WAFD vs WNEB: Correlation
Measured on weekly returns over the past three years, WaFd, Inc. (WAFD) and Western New England Bancorp, Inc. (WNEB) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are WAFD and WNEB?
Across a 3-year window, the weekly returns of WAFD and WNEB correlate at 0.67, strong. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. Stretching to 5 years gives 0.61, with an annualized covariance of 622.2 %².
Among the 12 assets we track against WAFD, WNEB ranks #6 by 3-year correlation. Neither side won the trailing year by much: +16.9% against +11.9%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
WAFD vs WNEB: side by side
| WAFD (WaFd, Inc.) | WNEB (Western New England Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +16.9% | +11.9% |
| 5-year return | +28.1% | +85.9% |
| Volatility (ann.) | 28.8% | 32.1% |
| Beta vs S&P 500 | 0.70 | 0.66 |
| Max drawdown (3Y) | -34.6% | -33.3% |
| Market cap | $2.7B | $0.3B |
| P/E (trailing) | 11.4 | 16.5 |
| Dividend yield | 2.95% | 2.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | WAFD | WNEB |
|---|---|---|
| 2022 | +3.4% | +11.0% |
| 2023 | +1.7% | -1.1% |
| 2024 | +1.1% | +6.0% |
| 2025 | +3.0% | +40.9% |
| 2026 | +15.6% | +10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are WAFD and WNEB good diversifiers for each other?
Only partially. A correlation of 0.67 means WAFD and WNEB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between WAFD and WNEB?
The WAFD/WNEB correlation stands at 0.67 on a 3-year window (1 year: 0.67, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is WNEB a good diversifier for WAFD?
Only partially. A correlation of 0.67 means WAFD and WNEB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/wafd-vs-wneb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/wafd-vs-wneb/)
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Related comparisons
Hubs: WAFD correlations · WNEB correlations
