FMBH vs OSBC: Correlation
How closely do First Mid Bancshares, Inc. (FMBH) and Old Second Bancorp, Inc. (OSBC) trade together? Their weekly returns over three years give a correlation of 0.83, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMBH and OSBC?
On 3 years of weekly data the FMBH/OSBC correlation comes out at 0.83, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. The 5-year figure is 0.73, and annualized covariance runs at 578.3 %².
By 3-year correlation, OSBC places #27 of the 56 assets tracked against FMBH. On 12-month performance OSBC holds a 10.5-point edge, +26.9% against +37.4%.
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 OSBC: side by side
| FMBH (First Mid Bancshares, Inc.) | OSBC (Old Second Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +26.9% | +37.4% |
| 5-year return | +40.9% | +130.4% |
| Volatility (ann.) | 26.0% | 26.8% |
| Beta vs S&P 500 | 0.76 | 0.67 |
| Max drawdown (3Y) | -27.5% | -25.5% |
| Market cap | $1.3B | $1.3B |
| P/E (trailing) | 12.5 | 14.6 |
| Dividend yield | 1.99% | 1.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMBH | OSBC |
|---|---|---|
| 2022 | -23.2% | +29.2% |
| 2023 | +11.6% | -2.4% |
| 2024 | +9.1% | +16.7% |
| 2025 | +8.7% | +11.3% |
| 2026 | +31.1% | +30.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMBH and OSBC good diversifiers for each other?
No: a correlation of 0.83 means FMBH and OSBC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between FMBH and OSBC?
As of 2026-08-27, the correlation of weekly returns between FMBH and OSBC is 0.83 over 3 years, 0.81 over 1 year and 0.73 over 5 years.
Is OSBC a good diversifier for FMBH?
No: a correlation of 0.83 means FMBH and OSBC tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.83 mean?
On the −1 to +1 scale, 0.83 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-osbc.json
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Related comparisons
Hubs: FMBH correlations · OSBC correlations
