EGBN vs SHBI: Correlation
Eagle Bancorp, Inc. (EGBN) and Shore Bancshares, Inc. (SHBI) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EGBN and SHBI?
On 3 years of weekly data the EGBN/SHBI correlation comes out at 0.72, strong. Lately the two have drifted apart, with the 1-year correlation at 0.53 versus 0.72 over 3 years. The 5-year figure is 0.68, and annualized covariance runs at 1026.0 %².
SHBI is one of the assets that tracks EGBN most closely: it ranks #3 out of the 10 assets we track against EGBN. Their 12-month results are close: +42.5% for EGBN against +37.7% for SHBI.
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.
EGBN vs SHBI: side by side
| EGBN (Eagle Bancorp, Inc.) | SHBI (Shore Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +42.5% | +37.7% |
| 5-year return | -41.4% | +51.7% |
| Volatility (ann.) | 43.4% | 32.6% |
| Beta vs S&P 500 | 0.65 | 0.89 |
| Max drawdown (3Y) | -46.0% | -31.9% |
| Market cap | $0.8B | $0.8B |
| P/E (trailing) | – | 11.7 |
| Dividend yield | 0.14% | 2.16% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EGBN | SHBI |
|---|---|---|
| 2022 | -21.9% | -14.4% |
| 2023 | -27.0% | -15.1% |
| 2024 | -7.9% | +15.6% |
| 2025 | -15.6% | +15.0% |
| 2026 | +29.1% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EGBN and SHBI good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EGBN and SHBI?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.53 over the last year and 0.68 over 5 years.
Is SHBI a good diversifier for EGBN?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 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
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Related comparisons
Hubs: EGBN correlations · SHBI correlations
