Northwest Bancshares Correlations

NWBI Stock

USD 14.84 0.19 1.26%

The current 90-days correlation between Northwest Bancshares and ST Bancorp is 0.95 (i.e., Almost no diversification). The correlation of Northwest Bancshares is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Northwest Bancshares Correlation With Market

Poor diversification

The correlation between Northwest Bancshares and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northwest Bancshares and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Northwest Bancshares. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For more detail on how to invest in Northwest Stock please use our How to Invest in Northwest Bancshares guide.

Moving together with Northwest Stock

0.99	AX	Axos Financial	Pair Corr
0.98	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.96	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.9	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.78	VBNK	VersaBank Fiscal Year End 11th of December 2024	Pair Corr
0.83	VBTX	Veritex Holdings Normal Trading	Pair Corr
0.61	TECTP	Tectonic Financial	Pair Corr
0.89	EBTC	Enterprise Bancorp	Pair Corr
0.97	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.8	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.97	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.79	WAFD	Washington Federal	Pair Corr
0.87	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.68	BANC-PF	Banc of California	Pair Corr
0.9	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.68	ESSA	ESSA Bancorp	Pair Corr
0.68	EVBN	Evans Bancorp	Pair Corr
0.8	EWBC	East West Bancorp Fiscal Year End 28th of January 2025	Pair Corr
0.71	WMPN	William Penn Bancorp	Pair Corr

Moving against Northwest Stock

0.58	CFG-PE	Citizens Financial	Pair Corr
0.51	TFC-PR	Truist Financial	Pair Corr
0.5	TFC-PO	Truist Financial	Pair Corr
0.45	WAFDP	Washington Federal	Pair Corr

Related Correlations Analysis

	STBA	CFB	EFSC	FBMS	FBP	FCF	FULT	HTBK	FUNC	BRKL
STBA		0.9	0.47	0.5	0.82	0.63	0.64	0.74	0.18	0.29	STBA
CFB	0.9		0.49	0.54	0.71	0.59	0.64	0.73	0.14	0.31	CFB
EFSC	0.47	0.49		0.98	0.44	0.97	0.96	0.92	0.91	0.96	EFSC
FBMS	0.5	0.54	0.98		0.47	0.95	0.96	0.92	0.86	0.94	FBMS
FBP	0.82	0.71	0.44	0.47		0.61	0.6	0.62	0.22	0.27	FBP
FCF	0.63	0.59	0.97	0.95	0.61		0.97	0.95	0.85	0.89	FCF
FULT	0.64	0.64	0.96	0.96	0.6	0.97		0.97	0.8	0.89	FULT
HTBK	0.74	0.73	0.92	0.92	0.62	0.95	0.97		0.73	0.83	HTBK
FUNC	0.18	0.14	0.91	0.86	0.22	0.85	0.8	0.73		0.96	FUNC
BRKL	0.29	0.31	0.96	0.94	0.27	0.89	0.89	0.83	0.96		BRKL
	STBA	CFB	EFSC	FBMS	FBP	FCF	FULT	HTBK	FUNC	BRKL

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Risk-Adjusted Indicators

There is a big difference between Northwest Stock performing well and Northwest Bancshares Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Northwest Bancshares' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
STBA	1.48	(0.20)	(0.04)	0.03	1.60	(1.76)	2.82	(2.36)	18.80
CFB	1.58	(0.27)	0.00	(0.01)	0.00	0.00	3.51	(3.00)	18.20
EFSC	1.45	(0.01)	0.08	0.12	1.38	(1.74)	2.99	(2.69)	19.91
FBMS	1.58	(0.02)	0.06	0.11	1.50	(1.97)	3.88	(3.51)	16.66
FBP	1.57	(0.24)	(0.03)	0.02	2.11	(1.62)	2.85	(3.55)	19.73
FCF	1.44	(0.06)	0.06	0.09	1.36	(1.69)	2.85	(2.63)	20.14
FULT	1.62	(0.05)	0.06	0.10	1.63	(1.81)	2.90	(2.66)	21.09
HTBK	1.39	(0.09)	0.03	0.08	1.40	(1.75)	2.93	(2.24)	17.09
FUNC	0.73	0.21	0.34	0.31	0.00	(1.03)	2.56	(0.63)	8.08
BRKL	1.37	0.14	0.17	0.20	1.17	(1.61)	3.72	(2.11)	14.18

Northwest Bancshares Corporate Management

Dan Delgadillo	Executive Finance	Profile
Jeffrey Maddigan	Corporate Accounting	Profile
Jacqueline Snell	Senior Controller	Profile
Michael Cappetta	Senior Officer	Profile
John Golding	Senior Banking	Profile

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