FMBH vs MCBS: Correlation
Measured on weekly returns over the past three years, First Mid Bancshares, Inc. (FMBH) and MetroCity Bankshares, Inc. (MCBS) carry a correlation of 0.84, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMBH and MCBS?
Across a 3-year window, the weekly returns of FMBH and MCBS correlate at 0.84, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.78) sits close to the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 617.3 %².
Within FMBH's tracked universe of 56 assets, MCBS comes in at #20 by 3-year correlation. The trailing year gives FMBH the advantage: +26.9% versus +20.8%, a 6.1-point spread.
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 MCBS: side by side
| FMBH (First Mid Bancshares, Inc.) | MCBS (MetroCity Bankshares, Inc.) | |
|---|---|---|
| 1-year return | +26.9% | +20.8% |
| 5-year return | +40.9% | +99.5% |
| Volatility (ann.) | 26.0% | 28.2% |
| Beta vs S&P 500 | 0.76 | 0.85 |
| Max drawdown (3Y) | -27.5% | -28.0% |
| Market cap | $1.3B | $1.0B |
| P/E (trailing) | 12.5 | 12.2 |
| Dividend yield | 1.99% | 2.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMBH | MCBS |
|---|---|---|
| 2022 | -23.2% | -19.3% |
| 2023 | +11.6% | +15.3% |
| 2024 | +9.1% | +37.1% |
| 2025 | +8.7% | -14.1% |
| 2026 | +31.1% | +35.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMBH and MCBS good diversifiers for each other?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FMBH and MCBS?
As of 2026-08-27, the correlation of weekly returns between FMBH and MCBS is 0.84 over 3 years, 0.78 over 1 year and 0.76 over 5 years.
Is MCBS a good diversifier for FMBH?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.84 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 · MCBS correlations
