FMBH vs FMNB: Correlation
How closely do First Mid Bancshares, Inc. (FMBH) and Farmers National Banc Corp. (FMNB) trade together? Their weekly returns over three years give a correlation of 0.86, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMBH and FMNB?
On 3 years of weekly data the FMBH/FMNB correlation comes out at 0.86, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.83) sits close to the 3-year figure. The 5-year figure is 0.79, and annualized covariance runs at 616.0 %².
Among the 56 assets we track against FMBH, FMNB ranks #11 by 3-year correlation. The last year tells two different stories: FMBH led by 16.6 percentage points, +26.9% for FMBH against +10.3% for FMNB.
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.
FMBH vs FMNB: side by side
| FMBH (First Mid Bancshares, Inc.) | FMNB (Farmers National Banc Corp.) | |
|---|---|---|
| 1-year return | +26.9% | +10.3% |
| 5-year return | +40.9% | +27.6% |
| Volatility (ann.) | 26.0% | 27.7% |
| Beta vs S&P 500 | 0.76 | 0.71 |
| Max drawdown (3Y) | -27.5% | -23.6% |
| Market cap | $1.3B | $0.9B |
| P/E (trailing) | 12.5 | 10.6 |
| Dividend yield | 1.99% | 4.34% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMBH | FMNB |
|---|---|---|
| 2022 | -23.2% | -20.6% |
| 2023 | +11.6% | +7.8% |
| 2024 | +9.1% | +3.4% |
| 2025 | +8.7% | -1.7% |
| 2026 | +31.1% | +21.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMBH and FMNB good diversifiers for each other?
No: a correlation of 0.86 means FMBH and FMNB tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between FMBH and FMNB?
As of 2026-08-27, the correlation of weekly returns between FMBH and FMNB is 0.86 over 3 years, 0.83 over 1 year and 0.79 over 5 years.
Is FMNB a good diversifier for FMBH?
No: a correlation of 0.86 means FMBH and FMNB tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.86 mean?
A reading of 0.86 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fmbh-vs-fmnb.json
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Related comparisons
Hubs: FMBH correlations · FMNB correlations
