WAL vs. SFNC

Last updated Jun 4, 2026

WAL (Western Alliance Bancorporation) and SFNC (Simmons First National Corporation) are both stocks. Both operate in the Banks - Regional industry within the Financial Services sector. Over the past 10 years, WAL returned 9.17%/yr vs 1.93%/yr for SFNC. A 0.62 correlation means they provide meaningful diversification when combined.

Performance

WAL vs. SFNC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Western Alliance Bancorporation (WAL) and Simmons First National Corporation (SFNC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WAL achieves a -6.57% return, which is significantly lower than SFNC's 11.83% return. Over the past 10 years, WAL has outperformed SFNC with an annualized return of 9.17%, while SFNC has yielded a comparatively lower 1.93% annualized return.

WAL

• 1D: -3.05%
• 1M: -2.08%
• YTD: -6.57%
• 6M: -7.49%
• 1Y: 8.33%
• 3Y*: 29.77%
• 5Y*: -3.29%
• 10Y*: 9.17%

SFNC

• 1D: -2.57%
• 1M: -1.33%
• YTD: 11.83%
• 6M: 13.23%
• 1Y: 15.53%
• 3Y*: 9.92%
• 5Y*: -3.99%
• 10Y*: 1.93%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WAL vs. SFNC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WAL Western Alliance Bancorporation	-6.57%	2.55%	29.67%	14.12%	-43.68%	81.72%	7.77%	45.90%	-30.25%	16.24%
SFNC Simmons First National Corporation	11.83%	-11.27%	16.70%	-3.96%	-24.62%	40.32%	-16.10%	13.90%	-13.77%	-6.44%

Correlation

The correlation between WAL and SFNC is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jul 5, 2005	0.62

The correlation between WAL and SFNC shifts across timeframes, from 0.62 (all time) to 0.77 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS WAL : $11.59 SFNC : -$3.51
PS Ratio WAL : 1.21 SFNC : 3.78
Total Revenue (TTM) WAL : $5.28B SFNC : $568.83M
Gross Profit (TTM) WAL : $2.51B SFNC : -$152.21M
EBITDA (TTM) WAL : $1.03B SFNC : -$492.97M

Return for Risk

WAL vs. SFNC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WAL

WAL Risk / Return Rank: 46
WAL Sharpe Ratio Rank: 49
WAL Sortino Ratio Rank: 42
WAL Omega Ratio Rank: 43
WAL Calmar Ratio Rank: 47
WAL Martin Ratio Rank: 48

SFNC

SFNC Risk / Return Rank: 58
SFNC Sharpe Ratio Rank: 61
SFNC Sortino Ratio Rank: 54
SFNC Omega Ratio Rank: 54
SFNC Calmar Ratio Rank: 60
SFNC Martin Ratio Rank: 60

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WAL vs. SFNC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Western Alliance Bancorporation (WAL) and Simmons First National Corporation (SFNC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	WAL	SFNC	Difference
Sharpe ratio: Return per unit of total volatility	0.22	0.59	-0.36
Sortino ratio: Return per unit of downside risk	0.54	1.01	-0.47
Omega ratio: Gain probability vs. loss probability	1.07	1.13	-0.06
Calmar ratio: Return relative to maximum drawdown	0.28	0.89	-0.61
Martin ratio: Return relative to average drawdown	0.66	2.03	-1.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WAL vs. SFNC - Sharpe Ratio Comparison

The current WAL Sharpe Ratio is 0.22, which is lower than the SFNC Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of WAL and SFNC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WAL	SFNC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.22	0.59	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.05	-0.13	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	0.06	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.24	-0.13

Drawdowns

WAL vs. SFNC - Drawdown Comparison

The maximum WAL drawdown since its inception was -92.14%, which is greater than SFNC's maximum drawdown of -63.88%. Use the drawdown chart below to compare losses from any high point for WAL and SFNC.

Drawdown Indicators

	WAL	SFNC	Difference
Max Drawdown Largest peak-to-trough decline	-92.14%	-63.88%	-28.26%
Max Drawdown (1Y) Largest decline over 1 year	-30.26%	-17.58%	-12.68%
Max Drawdown (3Y) Largest decline over 3 years	-35.98%	-30.55%	-5.43%
Max Drawdown (5Y) Largest decline over 5 years	-84.79%	-53.40%	-31.39%
Max Drawdown (10Y) Largest decline over 10 years	-84.79%	-54.17%	-30.62%
Current Drawdown Current decline from peak	-29.78%	-23.25%	-6.53%
Average Drawdown Average peak-to-trough decline	-38.51%	-18.69%	-19.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.73%	7.66%	+5.07%

Volatility

WAL vs. SFNC - Volatility Comparison

Western Alliance Bancorporation (WAL) has a higher volatility of 10.54% compared to Simmons First National Corporation (SFNC) at 6.26%. This indicates that WAL's price experiences larger fluctuations and is considered to be riskier than SFNC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WAL	SFNC	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.54%	6.26%	+4.28%
Volatility (6M) Calculated over the trailing 6-month period	26.82%	19.93%	+6.89%
Volatility (1Y) Calculated over the trailing 1-year period	37.52%	26.69%	+10.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.28%	31.04%	+29.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.30%	34.04%	+18.26%

Dividends

WAL vs. SFNC - Dividend Comparison

WAL's dividend yield for the trailing twelve months is around 2.11%, less than SFNC's 4.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SFNC Simmons First National Corporation	4.09%	4.51%	3.79%	4.03%	3.52%	2.43%	3.15%	2.39%	2.49%	1.75%	1.54%	1.79%
WAL Western Alliance Bancorporation	2.11%	1.86%	1.78%	2.20%	2.38%	1.11%	1.67%	0.88%	0.00%	0.00%	0.00%	0.00%

Financials

WAL vs. SFNC - Profitability Comparison

The chart below illustrates the profitability comparison between Western Alliance Bancorporation and Simmons First National Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

WAL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Western Alliance Bancorporation reported a gross profit of 0.00 and revenue of 1.19B. Therefore, the gross margin over that period was 0.0%.

SFNC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Simmons First National Corporation reported a gross profit of 0.00 and revenue of 301.81M. Therefore, the gross margin over that period was 0.0%.

WAL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Western Alliance Bancorporation reported an operating income of 0.00 and revenue of 1.19B, resulting in an operating margin of 0.0%.

SFNC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Simmons First National Corporation reported an operating income of 0.00 and revenue of 301.81M, resulting in an operating margin of 0.0%.

WAL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Western Alliance Bancorporation reported a net income of 182.10M and revenue of 1.19B, resulting in a net margin of 15.3%.

SFNC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Simmons First National Corporation reported a net income of 68.54M and revenue of 301.81M, resulting in a net margin of 22.7%.

Frequently Asked Questions

Can I hold both WAL and SFNC in my portfolio?

WAL and SFNC have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WAL or SFNC?

WAL has higher volatility (10.54%) compared to SFNC (6.26%). In terms of maximum drawdown, WAL dropped -92.14% vs SFNC's -63.88%.

Which has better risk-adjusted returns?

SFNC currently has the higher Sharpe Ratio (0.59 vs 0.22), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.