CBAN vs SHBI: Correlation
Colony Bankcorp, Inc. (CBAN) and Shore Bancshares, Inc. (SHBI) 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 CBAN and SHBI?
On 3 years of weekly data the CBAN/SHBI correlation comes out 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. The 5-year figure is 0.73, and annualized covariance runs at 803.6 %².
Few assets follow CBAN as closely as SHBI, which ranks #2 of 16 tracked partners. Over the last 12 months SHBI came out ahead by 10.3 percentage points (+27.4% against +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.
CBAN vs SHBI: side by side
| CBAN (Colony Bankcorp, Inc.) | SHBI (Shore Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +27.4% | +37.7% |
| 5-year return | +36.8% | +51.7% |
| Volatility (ann.) | 28.8% | 32.6% |
| Beta vs S&P 500 | 0.83 | 0.89 |
| Max drawdown (3Y) | -20.9% | -31.9% |
| Market cap | $0.5B | $0.8B |
| P/E (trailing) | 12.7 | 11.7 |
| Dividend yield | 2.22% | 2.16% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBAN | SHBI |
|---|---|---|
| 2022 | -23.5% | -14.4% |
| 2023 | +9.2% | -15.1% |
| 2024 | +25.7% | +15.6% |
| 2025 | +13.6% | +15.0% |
| 2026 | +21.6% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBAN and SHBI good diversifiers for each other?
No: a correlation of 0.86 means CBAN and SHBI tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CBAN and SHBI?
As of 2026-08-27, the correlation of weekly returns between CBAN and SHBI is 0.86 over 3 years, 0.81 over 1 year and 0.73 over 5 years.
Is SHBI a good diversifier for CBAN?
No: a correlation of 0.86 means CBAN and SHBI tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.86 mean?
On the −1 to +1 scale, 0.86 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/cban-vs-shbi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cban-vs-shbi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CBAN correlations · SHBI correlations
