BHB vs PEBO: Correlation
Measured on weekly returns over the past three years, Bar Harbor Bankshares, Inc. (BHB) and Peoples Bancorp Inc. (PEBO) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHB and PEBO?
Across a 3-year window, the weekly returns of BHB and PEBO correlate at 0.85, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.87) sits close to the 3-year figure. Stretching to 5 years gives 0.73, with an annualized covariance of 601.0 %².
Within BHB's tracked universe of 21 assets, PEBO comes in at #4 by 3-year correlation. Over the last 12 months PEBO came out ahead by 7.4 percentage points (+26.2% against +33.6%).
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 PEBO: side by side
| BHB (Bar Harbor Bankshares, Inc.) | PEBO (Peoples Bancorp Inc.) | |
|---|---|---|
| 1-year return | +26.2% | +33.6% |
| 5-year return | +75.3% | +66.3% |
| Volatility (ann.) | 28.3% | 25.1% |
| Beta vs S&P 500 | 0.67 | 0.69 |
| Max drawdown (3Y) | -27.1% | -24.5% |
| Market cap | $0.7B | $1.4B |
| P/E (trailing) | 13.3 | 12.0 |
| Dividend yield | 3.31% | 4.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHB | PEBO |
|---|---|---|
| 2022 | +14.8% | -6.6% |
| 2023 | -4.5% | +26.5% |
| 2024 | +8.6% | -1.0% |
| 2025 | +5.7% | +0.1% |
| 2026 | +29.9% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHB and PEBO good diversifiers for each other?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between BHB and PEBO?
The BHB/PEBO correlation stands at 0.85 on a 3-year window (1 year: 0.87, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is PEBO a good diversifier for BHB?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: BHB correlations · PEBO correlations
