AOMR vs FMBH: Correlation
Angel Oak Mortgage REIT, Inc. (AOMR) and First Mid Bancshares, Inc. (FMBH) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AOMR and FMBH?
Over the past 3 years, AOMR and FMBH moved with a correlation of 0.51, which is moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.51 over 3. Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 369.9 %².
Within AOMR's tracked universe of 13 assets, FMBH comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FMBH outperformed by 26.0 percentage points (+0.9% for AOMR against +26.9% for FMBH).
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.
AOMR vs FMBH: side by side
| AOMR (Angel Oak Mortgage REIT, Inc.) | FMBH (First Mid Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +0.9% | +26.9% |
| 5-year return | -9.4% | +40.9% |
| Volatility (ann.) | 28.0% | 26.0% |
| Beta vs S&P 500 | 0.54 | 0.76 |
| Max drawdown (3Y) | -37.2% | -27.5% |
| Market cap | $0.2B | $1.3B |
| P/E (trailing) | 11.3 | 12.5 |
| Dividend yield | 15.31% | 1.99% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AOMR | FMBH |
|---|---|---|
| 2022 | -67.3% | -23.2% |
| 2023 | +159.9% | +11.6% |
| 2024 | -1.9% | +9.1% |
| 2025 | +6.2% | +8.7% |
| 2026 | +8.9% | +31.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AOMR and FMBH good diversifiers for each other?
Only partially. A correlation of 0.51 means AOMR and FMBH 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 AOMR and FMBH?
The AOMR/FMBH correlation stands at 0.51 on a 3-year window (1 year: 0.48, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is FMBH a good diversifier for AOMR?
Only partially. A correlation of 0.51 means AOMR and FMBH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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/aomr-vs-fmbh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aomr-vs-fmbh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AOMR correlations · FMBH correlations
