FMBH vs TRST: Correlation
Measured on weekly returns over the past three years, First Mid Bancshares, Inc. (FMBH) and TrustCo Bank Corp NY (TRST) carry a correlation of 0.89, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMBH and TRST?
On 3 years of weekly data the FMBH/TRST correlation comes out at 0.89, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.81) sits close to the 3-year figure. The 5-year figure is 0.81, and annualized covariance runs at 604.5 %².
Within FMBH's tracked universe of 56 assets, TRST comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TRST ahead by 24.0 points (+26.9% versus +50.9%).
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 TRST: side by side
| FMBH (First Mid Bancshares, Inc.) | TRST (TrustCo Bank Corp NY) | |
|---|---|---|
| 1-year return | +26.9% | +50.9% |
| 5-year return | +40.9% | +121.0% |
| Volatility (ann.) | 26.0% | 26.2% |
| Beta vs S&P 500 | 0.76 | 0.68 |
| Max drawdown (3Y) | -27.5% | -26.2% |
| Market cap | $1.3B | $1.0B |
| P/E (trailing) | 12.5 | 15.9 |
| Dividend yield | 1.99% | 2.66% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMBH | TRST |
|---|---|---|
| 2022 | -23.2% | +17.6% |
| 2023 | +11.6% | -13.3% |
| 2024 | +9.1% | +12.4% |
| 2025 | +8.7% | +29.3% |
| 2026 | +31.1% | +41.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMBH and TRST good diversifiers for each other?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FMBH and TRST?
As of 2026-08-27, the correlation of weekly returns between FMBH and TRST is 0.89 over 3 years, 0.81 over 1 year and 0.81 over 5 years.
Is TRST a good diversifier for FMBH?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.89 mean?
On the −1 to +1 scale, 0.89 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-trst.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fmbh-vs-trst/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FMBH correlations · TRST correlations
