FIBK vs MDXG: Correlation
How closely do First Interstate BancSystem, Inc. (FIBK) and MiMedx Group, Inc (MDXG) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIBK and MDXG?
On 3 years of weekly data the FIBK/MDXG correlation comes out at 0.46, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.19 versus 0.46 over 3 years. The 5-year figure is 0.27, and annualized covariance runs at 600.3 %².
Among the 20 assets we track against FIBK, MDXG ranks #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FIBK ahead by 59.0 points (+21.9% versus -37.1%).
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.
FIBK vs MDXG: side by side
| FIBK (First Interstate BancSystem, Inc.) | MDXG (MiMedx Group, Inc) | |
|---|---|---|
| 1-year return | +21.9% | -37.1% |
| 5-year return | +13.8% | -69.1% |
| Volatility (ann.) | 30.3% | 43.2% |
| Beta vs S&P 500 | 0.98 | 0.71 |
| Max drawdown (3Y) | -31.8% | -68.3% |
| Market cap | $3.6B | $0.7B |
| P/E (trailing) | 11.5 | 112.8 |
| Dividend yield | 5.05% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FIBK | MDXG |
|---|---|---|
| 2022 | -0.8% | -54.0% |
| 2023 | -14.8% | +215.5% |
| 2024 | +12.9% | +9.7% |
| 2025 | +13.5% | -29.6% |
| 2026 | +11.8% | -33.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIBK and MDXG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FIBK and MDXG?
The FIBK/MDXG correlation stands at 0.46 on a 3-year window (1 year: 0.19, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is MDXG a good diversifier for FIBK?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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.
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Related comparisons
Hubs: FIBK correlations · MDXG correlations
