CAC vs MBIN: Correlation
Camden National Corporation (CAC) and Merchants Bancorp (MBIN) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAC and MBIN?
Across a 3-year window, the weekly returns of CAC and MBIN correlate at 0.69, strong. The relationship has been stable: the 1-year correlation (0.66) sits close to the 3-year figure. Stretching to 5 years gives 0.62, with an annualized covariance of 792.9 %².
Within CAC's tracked universe of 24 assets, MBIN comes in at #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MBIN outperformed by 20.0 percentage points (+43.3% for CAC against +63.3% for MBIN).
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.
CAC vs MBIN: side by side
| CAC (Camden National Corporation) | MBIN (Merchants Bancorp) | |
|---|---|---|
| 1-year return | +43.3% | +63.3% |
| 5-year return | +51.3% | +132.1% |
| Volatility (ann.) | 29.0% | 39.8% |
| Beta vs S&P 500 | 0.87 | 0.90 |
| Max drawdown (3Y) | -26.0% | -43.9% |
| Market cap | $1.0B | $2.4B |
| P/E (trailing) | 10.9 | 10.7 |
| Dividend yield | 2.97% | 0.79% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAC | MBIN |
|---|---|---|
| 2022 | -10.3% | -22.1% |
| 2023 | -5.0% | +77.0% |
| 2024 | +19.1% | -13.6% |
| 2025 | +5.8% | -5.5% |
| 2026 | +34.5% | +57.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAC and MBIN good diversifiers for each other?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CAC and MBIN?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.66 over the last year and 0.62 over 5 years.
Is MBIN a good diversifier for CAC?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.69 mean?
A reading of 0.69 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/cac-vs-mbin.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cac-vs-mbin/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CAC correlations · MBIN correlations
