DCOM vs INDB: Correlation
How closely do Dime Commercial Bancshares, Inc. (DCOM) and Independent Bank Corp. (INDB) trade together? Their weekly returns over three years give a correlation of 0.85, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DCOM and INDB?
Across a 3-year window, the weekly returns of DCOM and INDB correlate at 0.85, very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.74) than the 3-year average (0.85). Stretching to 5 years gives 0.78, with an annualized covariance of 871.2 %².
In DCOM's tracked universe of 15 assets, INDB sits right near the top at #2. The last year tells two different stories: DCOM led by 17.8 percentage points, +36.1% for DCOM against +18.3% for INDB.
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.
DCOM vs INDB: side by side
| DCOM (Dime Commercial Bancshares, Inc.) | INDB (Independent Bank Corp.) | |
|---|---|---|
| 1-year return | +36.1% | +18.3% |
| 5-year return | +46.6% | +28.6% |
| Volatility (ann.) | 33.3% | 30.9% |
| Beta vs S&P 500 | 0.87 | 0.85 |
| Max drawdown (3Y) | -36.0% | -30.8% |
| Market cap | $1.8B | $3.9B |
| P/E (trailing) | 14.6 | 14.9 |
| Dividend yield | 2.48% | 2.97% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DCOM | INDB |
|---|---|---|
| 2022 | -6.8% | +6.3% |
| 2023 | -11.5% | -18.9% |
| 2024 | +19.0% | +1.6% |
| 2025 | +1.4% | +17.9% |
| 2026 | +37.1% | +14.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DCOM and INDB good diversifiers for each other?
No: a correlation of 0.85 means DCOM and INDB tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between DCOM and INDB?
As of 2026-08-27, the correlation of weekly returns between DCOM and INDB is 0.85 over 3 years, 0.74 over 1 year and 0.78 over 5 years.
Is INDB a good diversifier for DCOM?
No: a correlation of 0.85 means DCOM and INDB tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.85 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/dcom-vs-indb.json
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Related comparisons
Hubs: DCOM correlations · INDB correlations
