FRME vs SBCF: Correlation
Measured on weekly returns over the past three years, First Merchants Corporation (FRME) and Seacoast Banking Corporation of Florida (SBCF) 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 FRME and SBCF?
Across a 3-year window, the weekly returns of FRME and SBCF correlate at 0.89, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.83 over 1 year against 0.89 over 3. Stretching to 5 years gives 0.83, with an annualized covariance of 813.6 %².
SBCF is one of the assets that tracks FRME most closely: it ranks #3 out of the 26 assets we track against FRME. On 12-month performance SBCF holds a 9.2-point edge, +3.5% against +12.7%.
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.
FRME vs SBCF: side by side
| FRME (First Merchants Corporation) | SBCF (Seacoast Banking Corporation of Florida) | |
|---|---|---|
| 1-year return | +3.5% | +12.7% |
| 5-year return | +22.0% | +23.0% |
| Volatility (ann.) | 29.8% | 30.8% |
| Beta vs S&P 500 | 0.78 | 0.96 |
| Max drawdown (3Y) | -23.9% | -27.8% |
| Market cap | $2.6B | $3.3B |
| P/E (trailing) | 13.4 | 22.3 |
| Dividend yield | 3.48% | 2.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRME | SBCF |
|---|---|---|
| 2022 | +1.1% | -10.1% |
| 2023 | -5.8% | -6.0% |
| 2024 | +11.8% | -0.5% |
| 2025 | -2.5% | +17.1% |
| 2026 | +13.3% | +10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRME and SBCF good diversifiers for each other?
No. With a correlation of 0.89, FRME and SBCF move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between FRME and SBCF?
As of 2026-08-27, the correlation of weekly returns between FRME and SBCF is 0.89 over 3 years, 0.83 over 1 year and 0.83 over 5 years.
Is SBCF a good diversifier for FRME?
No. With a correlation of 0.89, FRME and SBCF move nearly in lockstep, so holding both adds very little diversification.
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/frme-vs-sbcf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frme-vs-sbcf/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FRME correlations · SBCF correlations
