CBSH vs FFBC: Correlation
Measured on weekly returns over the past three years, Commerce Bancshares, Inc. (CBSH) and First Financial Bancorp. (FFBC) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBSH and FFBC?
Across a 3-year window, the weekly returns of CBSH and FFBC correlate at 0.85, very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.72) runs below the 3-year figure (0.85). Stretching to 5 years gives 0.80, with an annualized covariance of 539.5 %².
In CBSH's tracked universe of 13 assets, FFBC sits right near the top at #2. The last year tells two different stories: FFBC led by 27.7 percentage points, -1.0% for CBSH against +26.7% for FFBC.
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.
CBSH vs FFBC: side by side
| CBSH (Commerce Bancshares, Inc.) | FFBC (First Financial Bancorp.) | |
|---|---|---|
| 1-year return | -1.0% | +26.7% |
| 5-year return | +10.0% | +69.6% |
| Volatility (ann.) | 22.8% | 28.0% |
| Beta vs S&P 500 | 0.64 | 0.81 |
| Max drawdown (3Y) | -27.6% | -26.1% |
| Market cap | $8.3B | $3.4B |
| P/E (trailing) | 14.3 | 11.6 |
| Dividend yield | 1.84% | 3.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBSH | FFBC |
|---|---|---|
| 2022 | +0.5% | +3.4% |
| 2023 | -15.9% | +2.4% |
| 2024 | +24.7% | +17.6% |
| 2025 | -10.2% | -3.3% |
| 2026 | +12.1% | +33.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBSH and FFBC good diversifiers for each other?
No: a correlation of 0.85 means CBSH and FFBC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CBSH and FFBC?
The CBSH/FFBC correlation stands at 0.85 on a 3-year window (1 year: 0.72, 5 years: 0.80), computed from weekly returns as of 2026-08-27.
Is FFBC a good diversifier for CBSH?
No: a correlation of 0.85 means CBSH and FFBC tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 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/cbsh-vs-ffbc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cbsh-vs-ffbc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CBSH correlations · FFBC correlations
