FMBH vs SHBI: Correlation
How closely do First Mid Bancshares, Inc. (FMBH) and Shore Bancshares, Inc. (SHBI) trade together? Their weekly returns over three years give a correlation of 0.88, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMBH and SHBI?
Over the past 3 years, FMBH and SHBI moved with a correlation of 0.88, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.85 lands near the 3-year figure. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 745.9 %².
By 3-year correlation, SHBI places #6 of the 56 assets tracked against FMBH. The trailing year gives SHBI the advantage: +26.9% versus +37.7%, a 10.8-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 SHBI: side by side
| FMBH (First Mid Bancshares, Inc.) | SHBI (Shore Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +26.9% | +37.7% |
| 5-year return | +40.9% | +51.7% |
| Volatility (ann.) | 26.0% | 32.6% |
| Beta vs S&P 500 | 0.76 | 0.89 |
| Max drawdown (3Y) | -27.5% | -31.9% |
| Market cap | $1.3B | $0.8B |
| P/E (trailing) | 12.5 | 11.7 |
| Dividend yield | 1.99% | 2.16% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMBH | SHBI |
|---|---|---|
| 2022 | -23.2% | -14.4% |
| 2023 | +11.6% | -15.1% |
| 2024 | +9.1% | +15.6% |
| 2025 | +8.7% | +15.0% |
| 2026 | +31.1% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMBH and SHBI good diversifiers for each other?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FMBH and SHBI?
As of 2026-08-27, the correlation of weekly returns between FMBH and SHBI is 0.88 over 3 years, 0.85 over 1 year and 0.77 over 5 years.
Is SHBI a good diversifier for FMBH?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.88 mean?
A reading of 0.88 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FMBH correlations · SHBI correlations
