BH vs FITB: Correlation
Measured on weekly returns over the past three years, Biglari Holdings Inc. (BH) and Fifth Third Bancorp (FITB) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BH and FITB?
On 3 years of weekly data the BH/FITB correlation comes out at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. The 5-year figure is 0.30, and annualized covariance runs at 559.0 %².
Among the 12 assets we track against BH, FITB ranks #5 by 3-year correlation. On 12-month performance FITB holds a 5.0-point edge, +19.6% against +24.6%. One caveat on sizing: BH is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BH vs FITB: side by side
| BH (Biglari Holdings Inc.) | FITB (Fifth Third Bancorp) | |
|---|---|---|
| 1-year return | +19.6% | +24.6% |
| 5-year return | +115.0% | +71.2% |
| Volatility (ann.) | 45.1% | 29.4% |
| Beta vs S&P 500 | 0.45 | 1.03 |
| Max drawdown (3Y) | -48.0% | -29.9% |
| Market cap | $1.2B | $49.7B |
| P/E (trailing) | – | 18.5 |
| Dividend yield | 0.00% | 2.90% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | BH | FITB |
|---|---|---|
| 2022 | -2.6% | -21.9% |
| 2023 | +18.8% | +10.4% |
| 2024 | +54.2% | +27.2% |
| 2025 | +30.7% | +14.8% |
| 2026 | +14.0% | +19.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BH and FITB good diversifiers for each other?
Reasonably. At 0.42, BH and FITB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BH and FITB?
The BH/FITB correlation stands at 0.42 on a 3-year window (1 year: 0.48, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is FITB a good diversifier for BH?
Reasonably. At 0.42, BH and FITB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bh-vs-fitb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bh-vs-fitb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BH correlations · FITB correlations
