FDBC vs FMAO: Correlation
Measured on weekly returns over the past three years, Fidelity D & D Bancorp, Inc. (FDBC) and Farmers & Merchants Bancorp, Inc. (FMAO) carry a correlation of 0.73, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDBC and FMAO?
On 3 years of weekly data the FDBC/FMAO correlation comes out at 0.73, strong. Recent behaviour matches the longer record: 0.74 over 1 year against 0.73 over 3. The 5-year figure is 0.56, and annualized covariance runs at 928.5 %².
Few assets follow FDBC as closely as FMAO, which ranks #1 of 14 tracked partners. On 12-month performance FMAO holds a 9.1-point edge, +22.3% against +31.4%.
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.
FDBC vs FMAO: side by side
| FDBC (Fidelity D & D Bancorp, Inc.) | FMAO (Farmers & Merchants Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +22.3% | +31.4% |
| 5-year return | +16.8% | +78.8% |
| Volatility (ann.) | 35.2% | 36.2% |
| Beta vs S&P 500 | 0.69 | 0.90 |
| Max drawdown (3Y) | -35.1% | -35.0% |
| Market cap | $0.3B | $0.5B |
| P/E (trailing) | 10.1 | 11.6 |
| Dividend yield | 3.17% | 2.72% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FDBC | FMAO |
|---|---|---|
| 2022 | -17.5% | -14.9% |
| 2023 | +26.9% | -5.3% |
| 2024 | -13.2% | +23.1% |
| 2025 | -7.4% | -13.0% |
| 2026 | +25.7% | +39.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDBC and FMAO good diversifiers for each other?
To a limited degree. At 0.73 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 FDBC and FMAO?
Using weekly returns as of 2026-08-27: 0.73 over 3 years, with 0.74 over the last year and 0.56 over 5 years.
Is FMAO a good diversifier for FDBC?
To a limited degree. At 0.73 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 0.73 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/fdbc-vs-fmao.json
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Related comparisons
Hubs: FDBC correlations · FMAO correlations
