FMBH vs FRBA: Correlation
First Mid Bancshares, Inc. (FMBH) and First Bank (FRBA) show a very strong relationship: their 3-year correlation of weekly returns is 0.82.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMBH and FRBA?
Over the past 3 years, FMBH and FRBA moved with a correlation of 0.82, which is very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.70) than the 3-year average (0.82). Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 567.1 %².
By 3-year correlation, FRBA places #28 of the 56 assets tracked against FMBH. Correlation aside, the last 12 months split them widely, with FMBH ahead by 18.0 points (+26.9% versus +8.9%).
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 FRBA: side by side
| FMBH (First Mid Bancshares, Inc.) | FRBA (First Bank) | |
|---|---|---|
| 1-year return | +26.9% | +8.9% |
| 5-year return | +40.9% | +47.4% |
| Volatility (ann.) | 26.0% | 26.6% |
| Beta vs S&P 500 | 0.76 | 0.61 |
| Max drawdown (3Y) | -27.5% | -22.0% |
| Market cap | $1.3B | $0.4B |
| P/E (trailing) | 12.5 | 10.4 |
| Dividend yield | 1.99% | 1.67% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMBH | FRBA |
|---|---|---|
| 2022 | -23.2% | -3.6% |
| 2023 | +11.6% | +9.1% |
| 2024 | +9.1% | -2.6% |
| 2025 | +8.7% | +18.8% |
| 2026 | +31.1% | +10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMBH and FRBA good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FMBH and FRBA?
As of 2026-08-27, the correlation of weekly returns between FMBH and FRBA is 0.82 over 3 years, 0.70 over 1 year and 0.72 over 5 years.
Is FRBA a good diversifier for FMBH?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 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: FMBH correlations · FRBA correlations
