CUBI vs MBWM: Correlation
Customers Bancorp, Inc (CUBI) and Mercantile Bank Corporation (MBWM) show a strong relationship: their 3-year correlation of weekly returns is 0.78.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CUBI and MBWM?
On 3 years of weekly data the CUBI/MBWM correlation comes out at 0.78, strong. Lately the two have drifted apart, with the 1-year correlation at 0.64 versus 0.78 over 3 years. The 5-year figure is 0.69, and annualized covariance runs at 990.3 %².
MBWM is one of the assets that tracks CUBI most closely: it ranks #1 out of the 12 assets we track against CUBI. Over the last 12 months MBWM came out ahead by 12.5 percentage points (+11.2% against +23.7%).
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.
CUBI vs MBWM: side by side
| CUBI (Customers Bancorp, Inc) | MBWM (Mercantile Bank Corporation) | |
|---|---|---|
| 1-year return | +11.2% | +23.7% |
| 5-year return | +93.6% | +126.2% |
| Volatility (ann.) | 42.3% | 29.8% |
| Beta vs S&P 500 | 1.17 | 0.82 |
| Max drawdown (3Y) | -36.1% | -25.0% |
| Market cap | $2.7B | $1.0B |
| P/E (trailing) | 9.5 | 10.5 |
| Dividend yield | 0.00% | 2.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CUBI | MBWM |
|---|---|---|
| 2022 | -56.6% | -0.8% |
| 2023 | +103.3% | +25.8% |
| 2024 | -15.5% | +14.0% |
| 2025 | +50.2% | +11.7% |
| 2026 | +8.1% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CUBI and MBWM good diversifiers for each other?
Only partially. A correlation of 0.78 means CUBI and MBWM 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 CUBI and MBWM?
The CUBI/MBWM correlation stands at 0.78 on a 3-year window (1 year: 0.64, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is MBWM a good diversifier for CUBI?
Only partially. A correlation of 0.78 means CUBI and MBWM 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?
On the −1 to +1 scale, 0.78 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/cubi-vs-mbwm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cubi-vs-mbwm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CUBI correlations · MBWM correlations
