FMBH vs SMBK: Correlation
How closely do First Mid Bancshares, Inc. (FMBH) and SmartFinancial, Inc. (SMBK) trade together? Their weekly returns over three years give a correlation of 0.84, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMBH and SMBK?
Over the past 3 years, FMBH and SMBK moved with a correlation of 0.84, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.91) sits close to the 3-year figure. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 630.8 %².
Within FMBH's tracked universe of 56 assets, SMBK comes in at #22 by 3-year correlation. Over the last 12 months SMBK came out ahead by 10.7 percentage points (+26.9% against +37.6%).
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 SMBK: side by side
| FMBH (First Mid Bancshares, Inc.) | SMBK (SmartFinancial, Inc.) | |
|---|---|---|
| 1-year return | +26.9% | +37.6% |
| 5-year return | +40.9% | +113.7% |
| Volatility (ann.) | 26.0% | 28.9% |
| Beta vs S&P 500 | 0.76 | 0.84 |
| Max drawdown (3Y) | -27.5% | -26.4% |
| Market cap | $1.3B | $0.9B |
| P/E (trailing) | 12.5 | 14.9 |
| Dividend yield | 1.99% | 0.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMBH | SMBK |
|---|---|---|
| 2022 | -23.2% | +1.6% |
| 2023 | +11.6% | -9.7% |
| 2024 | +9.1% | +28.1% |
| 2025 | +8.7% | +20.5% |
| 2026 | +31.1% | +37.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMBH and SMBK 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 SMBK?
As of 2026-08-27, the correlation of weekly returns between FMBH and SMBK is 0.84 over 3 years, 0.91 over 1 year and 0.77 over 5 years.
Is SMBK 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?
On the −1 to +1 scale, 0.84 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
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Related comparisons
Hubs: FMBH correlations · SMBK correlations
