FRME vs WSBC: Correlation
Measured on weekly returns over the past three years, First Merchants Corporation (FRME) and WesBanco, Inc. (WSBC) carry a correlation of 0.88, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRME and WSBC?
Across a 3-year window, the weekly returns of FRME and WSBC correlate at 0.88, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.84 over 1 year against 0.88 over 3. Stretching to 5 years gives 0.87, with an annualized covariance of 742.5 %².
By 3-year correlation, WSBC places #6 of the 26 assets tracked against FRME. The last year tells two different stories: WSBC led by 25.1 percentage points, +3.5% for FRME against +28.6% for WSBC.
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 WSBC: side by side
| FRME (First Merchants Corporation) | WSBC (WesBanco, Inc.) | |
|---|---|---|
| 1-year return | +3.5% | +28.6% |
| 5-year return | +22.0% | +48.2% |
| Volatility (ann.) | 29.8% | 28.3% |
| Beta vs S&P 500 | 0.78 | 0.77 |
| Max drawdown (3Y) | -23.9% | -26.9% |
| Market cap | $2.6B | $3.9B |
| P/E (trailing) | 13.4 | 11.5 |
| Dividend yield | 3.48% | 3.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRME | WSBC |
|---|---|---|
| 2022 | +1.1% | +9.9% |
| 2023 | -5.8% | -10.9% |
| 2024 | +11.8% | +8.8% |
| 2025 | -2.5% | +7.0% |
| 2026 | +13.3% | +24.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRME and WSBC good diversifiers for each other?
No: a correlation of 0.88 means FRME and WSBC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between FRME and WSBC?
As of 2026-08-27, the correlation of weekly returns between FRME and WSBC is 0.88 over 3 years, 0.84 over 1 year and 0.87 over 5 years.
Is WSBC a good diversifier for FRME?
No: a correlation of 0.88 means FRME and WSBC tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.88 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/frme-vs-wsbc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frme-vs-wsbc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FRME correlations · WSBC correlations
