FMBH vs WTBA: Correlation
First Mid Bancshares, Inc. (FMBH) and West Bancorporation (WTBA) show a very strong relationship: their 3-year correlation of weekly returns is 0.84.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMBH and WTBA?
Across a 3-year window, the weekly returns of FMBH and WTBA correlate at 0.84, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.80) sits close to the 3-year figure. Stretching to 5 years gives 0.75, with an annualized covariance of 666.4 %².
Among the 56 assets we track against FMBH, WTBA ranks #24 by 3-year correlation. The last year tells two different stories: WTBA led by 21.0 percentage points, +26.9% for FMBH against +47.9% for WTBA.
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 WTBA: side by side
| FMBH (First Mid Bancshares, Inc.) | WTBA (West Bancorporation) | |
|---|---|---|
| 1-year return | +26.9% | +47.9% |
| 5-year return | +40.9% | +16.8% |
| Volatility (ann.) | 26.0% | 30.5% |
| Beta vs S&P 500 | 0.76 | 0.75 |
| Max drawdown (3Y) | -27.5% | -26.9% |
| Market cap | $1.3B | $0.5B |
| P/E (trailing) | 12.5 | 12.6 |
| Dividend yield | 1.99% | 3.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMBH | WTBA |
|---|---|---|
| 2022 | -23.2% | -14.4% |
| 2023 | +11.6% | -12.4% |
| 2024 | +9.1% | +7.7% |
| 2025 | +8.7% | +7.7% |
| 2026 | +31.1% | +31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMBH and WTBA good diversifiers for each other?
No. With a correlation of 0.84, FMBH and WTBA move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between FMBH and WTBA?
The FMBH/WTBA correlation stands at 0.84 on a 3-year window (1 year: 0.80, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is WTBA a good diversifier for FMBH?
No. With a correlation of 0.84, FMBH and WTBA move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.84 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: FMBH correlations · WTBA correlations
