BUSE vs MBWM: Correlation
Measured on weekly returns over the past three years, First Busey Corporation (BUSE) and Mercantile Bank Corporation (MBWM) carry a correlation of 0.88, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BUSE and MBWM?
On 3 years of weekly data the BUSE/MBWM correlation comes out at 0.88, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.89 over 1 year against 0.88 over 3. The 5-year figure is 0.85, and annualized covariance runs at 704.9 %².
Within BUSE's tracked universe of 38 assets, MBWM comes in at #4 by 3-year correlation. Neither side won the trailing year by much: +27.5% 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.
BUSE vs MBWM: side by side
| BUSE (First Busey Corporation) | MBWM (Mercantile Bank Corporation) | |
|---|---|---|
| 1-year return | +27.5% | +23.7% |
| 5-year return | +56.7% | +126.2% |
| Volatility (ann.) | 26.7% | 29.8% |
| Beta vs S&P 500 | 0.79 | 0.82 |
| Max drawdown (3Y) | -31.0% | -25.0% |
| Market cap | $2.5B | $1.0B |
| P/E (trailing) | 12.3 | 10.5 |
| Dividend yield | 3.39% | 2.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BUSE | MBWM |
|---|---|---|
| 2022 | -5.5% | -0.8% |
| 2023 | +5.1% | +25.8% |
| 2024 | -1.2% | +14.0% |
| 2025 | +5.5% | +11.7% |
| 2026 | +30.7% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BUSE and MBWM good diversifiers for each other?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between BUSE and MBWM?
Using weekly returns as of 2026-08-27: 0.88 over 3 years, with 0.89 over the last year and 0.85 over 5 years.
Is MBWM a good diversifier for BUSE?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.88 mean?
On the −1 to +1 scale, 0.88 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/buse-vs-mbwm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/buse-vs-mbwm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BUSE correlations · MBWM correlations
