CARE vs SHBI: Correlation
Carter Bankshares, Inc. (CARE) and Shore Bancshares, Inc. (SHBI) show a strong relationship: their 3-year correlation of weekly returns is 0.75.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARE and SHBI?
On 3 years of weekly data the CARE/SHBI correlation comes out at 0.75, strong. The past 12 months show a weaker link (0.63) than the 3-year average (0.75). The 5-year figure is 0.68, and annualized covariance runs at 747.1 %².
In CARE's tracked universe of 14 assets, SHBI sits right near the top at #1. Correlation aside, the last 12 months split them widely, with CARE ahead by 28.0 points (+65.7% versus +37.7%).
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.
CARE vs SHBI: side by side
| CARE (Carter Bankshares, Inc.) | SHBI (Shore Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +65.7% | +37.7% |
| 5-year return | +167.6% | +51.7% |
| Volatility (ann.) | 30.7% | 32.6% |
| Beta vs S&P 500 | 0.64 | 0.89 |
| Max drawdown (3Y) | -31.7% | -31.9% |
| Market cap | $0.7B | $0.8B |
| P/E (trailing) | 5.5 | 11.7 |
| Dividend yield | 0.32% | 2.16% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CARE | SHBI |
|---|---|---|
| 2022 | +7.8% | -14.4% |
| 2023 | -9.8% | -15.1% |
| 2024 | +17.5% | +15.6% |
| 2025 | +11.8% | +15.0% |
| 2026 | +64.1% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARE and SHBI good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CARE and SHBI?
As of 2026-08-27, the correlation of weekly returns between CARE and SHBI is 0.75 over 3 years, 0.63 over 1 year and 0.68 over 5 years.
Is SHBI a good diversifier for CARE?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 mean?
On the −1 to +1 scale, 0.75 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/care-vs-shbi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/care-vs-shbi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CARE correlations · SHBI correlations
