FMBH vs LCNB: Correlation
How closely do First Mid Bancshares, Inc. (FMBH) and LCNB Corporation (LCNB) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMBH and LCNB?
Over the past 3 years, FMBH and LCNB moved with a correlation of 0.71, which is strong. Little has changed lately, as the 1-year reading of 0.76 lands near the 3-year figure. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 548.7 %².
Within FMBH's tracked universe of 56 assets, LCNB comes in at #44 by 3-year correlation. Twelve-month performance is nearly a tie, at +26.9% for FMBH and +27.4% for LCNB.
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 LCNB: side by side
| FMBH (First Mid Bancshares, Inc.) | LCNB (LCNB Corporation) | |
|---|---|---|
| 1-year return | +26.9% | +27.4% |
| 5-year return | +40.9% | +43.8% |
| Volatility (ann.) | 26.0% | 29.6% |
| Beta vs S&P 500 | 0.76 | 0.49 |
| Max drawdown (3Y) | -27.5% | -23.8% |
| Market cap | $1.3B | $0.3B |
| P/E (trailing) | 12.5 | 11.2 |
| Dividend yield | 1.99% | 4.59% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMBH | LCNB |
|---|---|---|
| 2022 | -23.2% | -3.4% |
| 2023 | +11.6% | -7.5% |
| 2024 | +9.1% | +1.7% |
| 2025 | +8.7% | +14.7% |
| 2026 | +31.1% | +21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMBH and LCNB good diversifiers for each other?
Only partially. A correlation of 0.71 means FMBH and LCNB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between FMBH and LCNB?
The FMBH/LCNB correlation stands at 0.71 on a 3-year window (1 year: 0.76, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is LCNB a good diversifier for FMBH?
Only partially. A correlation of 0.71 means FMBH and LCNB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 mean?
A reading of 0.71 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-lcnb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fmbh-vs-lcnb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FMBH correlations · LCNB correlations
