BHB vs FSBW: Correlation
Measured on weekly returns over the past three years, Bar Harbor Bankshares, Inc. (BHB) and FS Bancorp, Inc. (FSBW) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHB and FSBW?
Across a 3-year window, the weekly returns of BHB and FSBW correlate at 0.80, very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.69) than the 3-year average (0.80). Stretching to 5 years gives 0.69, with an annualized covariance of 624.8 %².
Within BHB's tracked universe of 21 assets, FSBW comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BHB ahead by 22.7 points (+26.2% versus +3.5%).
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.
BHB vs FSBW: side by side
| BHB (Bar Harbor Bankshares, Inc.) | FSBW (FS Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +26.2% | +3.5% |
| 5-year return | +75.3% | +47.7% |
| Volatility (ann.) | 28.3% | 27.5% |
| Beta vs S&P 500 | 0.67 | 0.69 |
| Max drawdown (3Y) | -27.1% | -26.1% |
| Market cap | $0.7B | $0.3B |
| P/E (trailing) | 13.3 | 9.7 |
| Dividend yield | 3.31% | 2.69% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHB | FSBW |
|---|---|---|
| 2022 | +14.8% | +2.4% |
| 2023 | -4.5% | +14.1% |
| 2024 | +8.6% | +14.3% |
| 2025 | +5.7% | +3.7% |
| 2026 | +29.9% | +5.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHB and FSBW good diversifiers for each other?
No: a correlation of 0.80 means BHB and FSBW tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between BHB and FSBW?
Using weekly returns as of 2026-08-27: 0.80 over 3 years, with 0.69 over the last year and 0.69 over 5 years.
Is FSBW a good diversifier for BHB?
No: a correlation of 0.80 means BHB and FSBW tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.80 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/bhb-vs-fsbw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bhb-vs-fsbw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BHB correlations · FSBW correlations
