FISI vs FMBH: Correlation
Financial Institutions, Inc. (FISI) and First Mid Bancshares, Inc. (FMBH) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FISI and FMBH?
Across a 3-year window, the weekly returns of FISI and FMBH correlate at 0.83, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.82) sits close to the 3-year figure. Stretching to 5 years gives 0.78, with an annualized covariance of 691.0 %².
In FISI's tracked universe of 14 assets, FMBH sits right near the top at #3. The last year tells two different stories: FISI led by 27.4 percentage points, +54.3% for FISI against +26.9% for FMBH.
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.
FISI vs FMBH: side by side
| FISI (Financial Institutions, Inc.) | FMBH (First Mid Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +54.3% | +26.9% |
| 5-year return | +65.6% | +40.9% |
| Volatility (ann.) | 31.9% | 26.0% |
| Beta vs S&P 500 | 0.93 | 0.76 |
| Max drawdown (3Y) | -27.8% | -27.5% |
| Market cap | $0.8B | $1.3B |
| P/E (trailing) | 10.1 | 12.5 |
| Dividend yield | 3.09% | 1.99% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FISI | FMBH |
|---|---|---|
| 2022 | -20.0% | -23.2% |
| 2023 | -6.8% | +11.6% |
| 2024 | +35.5% | +9.1% |
| 2025 | +19.5% | +8.7% |
| 2026 | +33.8% | +31.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FISI and FMBH good diversifiers for each other?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FISI and FMBH?
Using weekly returns as of 2026-08-27: 0.83 over 3 years, with 0.82 over the last year and 0.78 over 5 years.
Is FMBH a good diversifier for FISI?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.83 mean?
On the −1 to +1 scale, 0.83 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/fisi-vs-fmbh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fisi-vs-fmbh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FISI correlations · FMBH correlations
