BFST vs MBIN: Correlation
How closely do Business First Bancshares, Inc. (BFST) and Merchants Bancorp (MBIN) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BFST and MBIN?
Over the past 3 years, BFST and MBIN moved with a correlation of 0.66, which is strong. The past 12 months show a weaker link (0.54) than the 3-year average (0.66). Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 783.6 %².
Among the 19 assets we track against BFST, MBIN ranks #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MBIN ahead by 37.7 points (+25.6% versus +63.3%).
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.
BFST vs MBIN: side by side
| BFST (Business First Bancshares, Inc.) | MBIN (Merchants Bancorp) | |
|---|---|---|
| 1-year return | +25.6% | +63.3% |
| 5-year return | +47.5% | +132.1% |
| Volatility (ann.) | 29.7% | 39.8% |
| Beta vs S&P 500 | 0.82 | 0.90 |
| Max drawdown (3Y) | -27.3% | -43.9% |
| Market cap | $1.0B | $2.4B |
| P/E (trailing) | 11.1 | 10.7 |
| Dividend yield | 1.93% | 0.79% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BFST | MBIN |
|---|---|---|
| 2022 | -20.2% | -22.1% |
| 2023 | +14.4% | +77.0% |
| 2024 | +6.9% | -13.6% |
| 2025 | +4.0% | -5.5% |
| 2026 | +21.3% | +57.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BFST and MBIN good diversifiers for each other?
Only partially. A correlation of 0.66 means BFST and MBIN 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 BFST and MBIN?
The BFST/MBIN correlation stands at 0.66 on a 3-year window (1 year: 0.54, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is MBIN a good diversifier for BFST?
Only partially. A correlation of 0.66 means BFST and MBIN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 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.
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Related comparisons
Hubs: BFST correlations · MBIN correlations
