AVBH vs FBIZ: Correlation
Avidbank Holdings, Inc. (AVBH) and First Business Financial Services, Inc. (FBIZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVBH and FBIZ?
Over the past 3 years, AVBH and FBIZ moved with a correlation of 0.46, which is moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 267.1 %².
FBIZ is one of the assets that tracks AVBH most closely: it ranks #3 out of the 10 assets we track against AVBH. On 12-month performance FBIZ holds a 10.0-point edge, +28.0% against +38.0%. Risk is not evenly split, since FBIZ carries 1.5 times the volatility of the other side.
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.
AVBH vs FBIZ: side by side
| AVBH (Avidbank Holdings, Inc.) | FBIZ (First Business Financial Services, Inc.) | |
|---|---|---|
| 1-year return | +28.0% | +38.0% |
| 5-year return | +40.0% | +187.1% |
| Volatility (ann.) | 19.4% | 30.0% |
| Beta vs S&P 500 | 0.41 | 0.79 |
| Max drawdown (3Y) | -25.2% | -20.8% |
| Market cap | $0.3B | $0.6B |
| P/E (trailing) | – | 10.6 |
| Dividend yield | 0.00% | 1.80% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVBH | FBIZ |
|---|---|---|
| 2022 | -17.5% | +28.2% |
| 2023 | +3.2% | +12.9% |
| 2024 | +2.0% | +18.4% |
| 2025 | +21.8% | +20.1% |
| 2026 | +20.0% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVBH and FBIZ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AVBH and FBIZ?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.55 over the last year and 0.39 over 5 years.
Is FBIZ a good diversifier for AVBH?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AVBH correlations · FBIZ correlations
