BFC vs IBCP: Correlation
Bank First Corporation (BFC) and Independent Bank Corporation (IBCP) show a strong relationship: their 3-year correlation of weekly returns is 0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BFC and IBCP?
On 3 years of weekly data the BFC/IBCP correlation comes out at 0.76, strong. Little has changed lately, as the 1-year reading of 0.70 lands near the 3-year figure. The 5-year figure is 0.69, and annualized covariance runs at 584.4 %².
Among the 13 assets we track against BFC, IBCP ranks #5 by 3-year correlation. Their 12-month results are close: +18.4% for BFC against +13.7% for IBCP.
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.
BFC vs IBCP: side by side
| BFC (Bank First Corporation) | IBCP (Independent Bank Corporation) | |
|---|---|---|
| 1-year return | +18.4% | +13.7% |
| 5-year return | +139.3% | +112.7% |
| Volatility (ann.) | 26.7% | 28.7% |
| Beta vs S&P 500 | 0.70 | 0.77 |
| Max drawdown (3Y) | -15.7% | -27.5% |
| Market cap | $1.7B | $0.8B |
| P/E (trailing) | 20.0 | 10.6 |
| Dividend yield | 1.27% | 2.94% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BFC | IBCP |
|---|---|---|
| 2022 | +30.0% | +4.3% |
| 2023 | -5.3% | +14.0% |
| 2024 | +16.4% | +38.5% |
| 2025 | +28.7% | -3.5% |
| 2026 | +25.6% | +15.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BFC and IBCP good diversifiers for each other?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BFC and IBCP?
As of 2026-08-27, the correlation of weekly returns between BFC and IBCP is 0.76 over 3 years, 0.70 over 1 year and 0.69 over 5 years.
Is IBCP a good diversifier for BFC?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.76 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bfc-vs-ibcp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bfc-vs-ibcp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BFC correlations · IBCP correlations
