FMBH vs WSBF: Correlation
How closely do First Mid Bancshares, Inc. (FMBH) and Waterstone Financial, Inc. (WSBF) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMBH and WSBF?
On 3 years of weekly data the FMBH/WSBF correlation comes out at 0.75, strong. Little has changed lately, as the 1-year reading of 0.67 lands near the 3-year figure. The 5-year figure is 0.67, and annualized covariance runs at 511.5 %².
Among the 56 assets we track against FMBH, WSBF ranks #41 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WSBF outperformed by 23.0 percentage points (+26.9% for FMBH against +49.9% for WSBF).
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 WSBF: side by side
| FMBH (First Mid Bancshares, Inc.) | WSBF (Waterstone Financial, Inc.) | |
|---|---|---|
| 1-year return | +26.9% | +49.9% |
| 5-year return | +40.9% | +33.3% |
| Volatility (ann.) | 26.0% | 26.2% |
| Beta vs S&P 500 | 0.76 | 0.61 |
| Max drawdown (3Y) | -27.5% | -26.5% |
| Market cap | $1.3B | $0.4B |
| P/E (trailing) | 12.5 | 12.1 |
| Dividend yield | 1.99% | 3.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMBH | WSBF |
|---|---|---|
| 2022 | -23.2% | -15.8% |
| 2023 | +11.6% | -13.1% |
| 2024 | +9.1% | -0.9% |
| 2025 | +8.7% | +28.8% |
| 2026 | +31.1% | +30.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMBH and WSBF good diversifiers for each other?
Only partially. A correlation of 0.75 means FMBH and WSBF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between FMBH and WSBF?
As of 2026-08-27, the correlation of weekly returns between FMBH and WSBF is 0.75 over 3 years, 0.67 over 1 year and 0.67 over 5 years.
Is WSBF a good diversifier for FMBH?
Only partially. A correlation of 0.75 means FMBH and WSBF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 mean?
A reading of 0.75 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fmbh-vs-wsbf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fmbh-vs-wsbf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FMBH correlations · WSBF correlations
