FMBH vs MPB: Correlation
First Mid Bancshares, Inc. (FMBH) and Mid Penn Bancorp (MPB) show a very strong relationship: their 3-year correlation of weekly returns is 0.81.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMBH and MPB?
On 3 years of weekly data the FMBH/MPB correlation comes out at 0.81, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.86) sits close to the 3-year figure. The 5-year figure is 0.74, and annualized covariance runs at 588.5 %².
Among the 56 assets we track against FMBH, MPB ranks #30 by 3-year correlation. Neither side won the trailing year by much: +26.9% against +25.2%.
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 MPB: side by side
| FMBH (First Mid Bancshares, Inc.) | MPB (Mid Penn Bancorp) | |
|---|---|---|
| 1-year return | +26.9% | +25.2% |
| 5-year return | +40.9% | +61.4% |
| Volatility (ann.) | 26.0% | 27.8% |
| Beta vs S&P 500 | 0.76 | 0.71 |
| Max drawdown (3Y) | -27.5% | -26.8% |
| Market cap | $1.3B | $0.9B |
| P/E (trailing) | 12.5 | 12.8 |
| Dividend yield | 1.99% | 2.42% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMBH | MPB |
|---|---|---|
| 2022 | -23.2% | -2.9% |
| 2023 | +11.6% | -16.1% |
| 2024 | +9.1% | +22.8% |
| 2025 | +8.7% | +10.7% |
| 2026 | +31.1% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMBH and MPB good diversifiers for each other?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FMBH and MPB?
The FMBH/MPB correlation stands at 0.81 on a 3-year window (1 year: 0.86, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is MPB a good diversifier for FMBH?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.81 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 · MPB correlations
