FMBH vs LKFN: Correlation
Measured on weekly returns over the past three years, First Mid Bancshares, Inc. (FMBH) and Lakeland Financial Corporation (LKFN) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMBH and LKFN?
Across a 3-year window, the weekly returns of FMBH and LKFN correlate at 0.85, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.84) sits close to the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 663.6 %².
Within FMBH's tracked universe of 56 assets, LKFN comes in at #18 by 3-year correlation. The last year tells two different stories: FMBH led by 37.3 percentage points, +26.9% for FMBH against -10.4% for LKFN.
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 LKFN: side by side
| FMBH (First Mid Bancshares, Inc.) | LKFN (Lakeland Financial Corporation) | |
|---|---|---|
| 1-year return | +26.9% | -10.4% |
| 5-year return | +40.9% | +4.7% |
| Volatility (ann.) | 26.0% | 29.9% |
| Beta vs S&P 500 | 0.76 | 0.75 |
| Max drawdown (3Y) | -27.5% | -31.7% |
| Market cap | $1.3B | $1.5B |
| P/E (trailing) | 12.5 | 13.6 |
| Dividend yield | 1.99% | 3.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMBH | LKFN |
|---|---|---|
| 2022 | -23.2% | -7.0% |
| 2023 | +11.6% | -7.8% |
| 2024 | +9.1% | +8.7% |
| 2025 | +8.7% | -14.3% |
| 2026 | +31.1% | +6.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMBH and LKFN good diversifiers for each other?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FMBH and LKFN?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.84 over the last year and 0.76 over 5 years.
Is LKFN a good diversifier for FMBH?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 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/fmbh-vs-lkfn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fmbh-vs-lkfn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FMBH correlations · LKFN correlations
