BUSE vs IBCP: Correlation
First Busey Corporation (BUSE) and Independent Bank Corporation (IBCP) show a very strong relationship: their 3-year correlation of weekly returns is 0.86.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BUSE and IBCP?
Across a 3-year window, the weekly returns of BUSE and IBCP correlate at 0.86, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. Stretching to 5 years gives 0.83, with an annualized covariance of 661.4 %².
By 3-year correlation, IBCP places #14 of the 38 assets tracked against BUSE. The trailing year gives BUSE the advantage: +27.5% versus +13.7%, a 13.8-point spread.
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.
BUSE vs IBCP: side by side
| BUSE (First Busey Corporation) | IBCP (Independent Bank Corporation) | |
|---|---|---|
| 1-year return | +27.5% | +13.7% |
| 5-year return | +56.7% | +112.7% |
| Volatility (ann.) | 26.7% | 28.7% |
| Beta vs S&P 500 | 0.79 | 0.77 |
| Max drawdown (3Y) | -31.0% | -27.5% |
| Market cap | $2.5B | $0.8B |
| P/E (trailing) | 12.3 | 10.6 |
| Dividend yield | 3.39% | 2.94% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BUSE | IBCP |
|---|---|---|
| 2022 | -5.5% | +4.3% |
| 2023 | +5.1% | +14.0% |
| 2024 | -1.2% | +38.5% |
| 2025 | +5.5% | -3.5% |
| 2026 | +30.7% | +15.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BUSE and IBCP good diversifiers for each other?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between BUSE and IBCP?
The BUSE/IBCP correlation stands at 0.86 on a 3-year window (1 year: 0.81, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is IBCP a good diversifier for BUSE?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.86 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/buse-vs-ibcp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/buse-vs-ibcp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BUSE correlations · IBCP correlations
