CBL vs FMBH: Correlation
CBL & Associates Properties, Inc. (CBL) and First Mid Bancshares, Inc. (FMBH) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBL and FMBH?
Over the past 3 years, CBL and FMBH moved with a correlation of 0.58, which is moderate. Recent behaviour matches the longer record: 0.59 over 1 year against 0.58 over 3. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 394.9 %².
Among the 10 assets we track against CBL, FMBH ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CBL outperformed by 58.3 percentage points (+85.2% for CBL against +26.9% for FMBH).
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.
CBL vs FMBH: side by side
| CBL (CBL & Associates Properties, Inc.) | FMBH (First Mid Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +85.2% | +26.9% |
| 5-year return | +159.7% | +40.9% |
| Volatility (ann.) | 26.3% | 26.0% |
| Beta vs S&P 500 | 0.66 | 0.76 |
| Max drawdown (3Y) | -29.1% | -27.5% |
| Market cap | $1.7B | $1.3B |
| P/E (trailing) | 7.9 | 12.5 |
| Dividend yield | 3.27% | 1.99% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBL | FMBH |
|---|---|---|
| 2022 | -18.0% | -23.2% |
| 2023 | +13.0% | +11.6% |
| 2024 | +28.5% | +9.1% |
| 2025 | +37.2% | +8.7% |
| 2026 | +52.8% | +31.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBL and FMBH good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CBL and FMBH?
The CBL/FMBH correlation stands at 0.58 on a 3-year window (1 year: 0.59, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is FMBH a good diversifier for CBL?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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/cbl-vs-fmbh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbl-vs-fmbh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CBL correlations · FMBH correlations
