FSBW vs MCBS: Correlation
How closely do FS Bancorp, Inc. (FSBW) and MetroCity Bankshares, Inc. (MCBS) trade together? Their weekly returns over three years give a correlation of 0.79, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSBW and MCBS?
On 3 years of weekly data the FSBW/MCBS correlation comes out at 0.79, strong. Recent behaviour matches the longer record: 0.70 over 1 year against 0.79 over 3. The 5-year figure is 0.68, and annualized covariance runs at 611.5 %².
Few assets follow FSBW as closely as MCBS, which ranks #3 of 23 tracked partners. Correlation aside, the last 12 months split them widely, with MCBS ahead by 17.3 points (+3.5% versus +20.8%).
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.
FSBW vs MCBS: side by side
| FSBW (FS Bancorp, Inc.) | MCBS (MetroCity Bankshares, Inc.) | |
|---|---|---|
| 1-year return | +3.5% | +20.8% |
| 5-year return | +47.7% | +99.5% |
| Volatility (ann.) | 27.5% | 28.2% |
| Beta vs S&P 500 | 0.69 | 0.85 |
| Max drawdown (3Y) | -26.1% | -28.0% |
| Market cap | $0.3B | $1.0B |
| P/E (trailing) | 9.7 | 12.2 |
| Dividend yield | 2.69% | 2.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSBW | MCBS |
|---|---|---|
| 2022 | +2.4% | -19.3% |
| 2023 | +14.1% | +15.3% |
| 2024 | +14.3% | +37.1% |
| 2025 | +3.7% | -14.1% |
| 2026 | +5.9% | +35.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSBW and MCBS good diversifiers for each other?
To a limited degree. At 0.79 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FSBW and MCBS?
Using weekly returns as of 2026-08-27: 0.79 over 3 years, with 0.70 over the last year and 0.68 over 5 years.
Is MCBS a good diversifier for FSBW?
To a limited degree. At 0.79 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.79 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: FSBW correlations · MCBS correlations
