CLBK vs FMBH: Correlation
Measured on weekly returns over the past three years, Columbia Financial, Inc. (CLBK) and First Mid Bancshares, Inc. (FMBH) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLBK and FMBH?
Across a 3-year window, the weekly returns of CLBK and FMBH correlate at 0.78, strong. The relationship has been stable: the 1-year correlation (0.71) sits close to the 3-year figure. Stretching to 5 years gives 0.60, with an annualized covariance of 610.9 %².
Few assets follow CLBK as closely as FMBH, which ranks #1 of 11 tracked partners. Correlation aside, the last 12 months split them widely, with CLBK ahead by 43.8 points (+70.7% versus +26.9%).
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.
CLBK vs FMBH: side by side
| CLBK (Columbia Financial, Inc.) | FMBH (First Mid Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +70.7% | +26.9% |
| 5-year return | +45.5% | +40.9% |
| Volatility (ann.) | 30.1% | 26.0% |
| Beta vs S&P 500 | 0.64 | 0.76 |
| Max drawdown (3Y) | -33.9% | -27.5% |
| Market cap | $1.2B | $1.3B |
| P/E (trailing) | 21.3 | 12.5 |
| Dividend yield | 0.00% | 1.99% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLBK | FMBH |
|---|---|---|
| 2022 | +3.6% | -23.2% |
| 2023 | -10.8% | +11.6% |
| 2024 | -18.0% | +9.1% |
| 2025 | -1.7% | +8.7% |
| 2026 | +67.0% | +31.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLBK and FMBH good diversifiers for each other?
Only partially. A correlation of 0.78 means CLBK and FMBH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CLBK and FMBH?
The CLBK/FMBH correlation stands at 0.78 on a 3-year window (1 year: 0.71, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is FMBH a good diversifier for CLBK?
Only partially. A correlation of 0.78 means CLBK and FMBH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.78 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/clbk-vs-fmbh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clbk-vs-fmbh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLBK correlations · FMBH correlations
