COFS vs FMBH: Correlation
Measured on weekly returns over the past three years, ChoiceOne Financial Services, Inc. (COFS) and First Mid Bancshares, Inc. (FMBH) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COFS and FMBH?
On 3 years of weekly data the COFS/FMBH correlation comes out at 0.66, strong. Recent behaviour matches the longer record: 0.74 over 1 year against 0.66 over 3. The 5-year figure is 0.52, and annualized covariance runs at 628.4 %².
By 3-year correlation, FMBH places #5 of the 12 assets tracked against COFS. Correlation aside, the last 12 months split them widely, with FMBH ahead by 16.2 points (+10.7% 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.
COFS vs FMBH: side by side
| COFS (ChoiceOne Financial Services, Inc.) | FMBH (First Mid Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +10.7% | +26.9% |
| 5-year return | +66.4% | +40.9% |
| Volatility (ann.) | 36.3% | 26.0% |
| Beta vs S&P 500 | 0.84 | 0.76 |
| Max drawdown (3Y) | -34.9% | -27.5% |
| Market cap | $0.5B | $1.3B |
| P/E (trailing) | 8.8 | 12.5 |
| Dividend yield | 3.43% | 1.99% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COFS | FMBH |
|---|---|---|
| 2022 | +14.4% | -23.2% |
| 2023 | +5.3% | +11.6% |
| 2024 | +26.3% | +9.1% |
| 2025 | -14.0% | +8.7% |
| 2026 | +14.8% | +31.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COFS and FMBH good diversifiers for each other?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between COFS and FMBH?
As of 2026-08-27, the correlation of weekly returns between COFS and FMBH is 0.66 over 3 years, 0.74 over 1 year and 0.52 over 5 years.
Is FMBH a good diversifier for COFS?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 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/cofs-vs-fmbh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cofs-vs-fmbh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COFS correlations · FMBH correlations
