BFST vs MBWM: Correlation
Measured on weekly returns over the past three years, Business First Bancshares, Inc. (BFST) and Mercantile Bank Corporation (MBWM) carry a correlation of 0.87, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BFST and MBWM?
Across a 3-year window, the weekly returns of BFST and MBWM correlate at 0.87, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.83 lands near the 3-year figure. Stretching to 5 years gives 0.74, with an annualized covariance of 775.1 %².
MBWM is one of the assets that tracks BFST most closely: it ranks #1 out of the 19 assets we track against BFST. Neither side won the trailing year by much: +25.6% against +23.7%.
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 MBWM: side by side
| BFST (Business First Bancshares, Inc.) | MBWM (Mercantile Bank Corporation) | |
|---|---|---|
| 1-year return | +25.6% | +23.7% |
| 5-year return | +47.5% | +126.2% |
| Volatility (ann.) | 29.7% | 29.8% |
| Beta vs S&P 500 | 0.82 | 0.82 |
| Max drawdown (3Y) | -27.3% | -25.0% |
| Market cap | $1.0B | $1.0B |
| P/E (trailing) | 11.1 | 10.5 |
| Dividend yield | 1.93% | 2.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BFST | MBWM |
|---|---|---|
| 2022 | -20.2% | -0.8% |
| 2023 | +14.4% | +25.8% |
| 2024 | +6.9% | +14.0% |
| 2025 | +4.0% | +11.7% |
| 2026 | +21.3% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BFST and MBWM good diversifiers for each other?
No. With a correlation of 0.87, BFST and MBWM move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between BFST and MBWM?
The BFST/MBWM correlation stands at 0.87 on a 3-year window (1 year: 0.83, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is MBWM a good diversifier for BFST?
No. With a correlation of 0.87, BFST and MBWM move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.87 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 · MBWM correlations
