FSBW vs MG: Correlation
Measured on weekly returns over the past three years, FS Bancorp, Inc. (FSBW) and Mistras Group Inc (MG) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSBW and MG?
On 3 years of weekly data the FSBW/MG correlation comes out at 0.52, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.33, and annualized covariance runs at 564.5 %².
By 3-year correlation, MG places #14 of the 23 assets tracked against FSBW. Correlation aside, the last 12 months split them widely, with MG ahead by 96.2 points (+3.5% versus +99.7%).
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.
FSBW vs MG: side by side
| FSBW (FS Bancorp, Inc.) | MG (Mistras Group Inc) | |
|---|---|---|
| 1-year return | +3.5% | +99.7% |
| 5-year return | +47.7% | +87.3% |
| Volatility (ann.) | 27.5% | 39.7% |
| Beta vs S&P 500 | 0.69 | 0.84 |
| Max drawdown (3Y) | -26.1% | -40.8% |
| Market cap | $0.3B | $0.6B |
| P/E (trailing) | 9.7 | 22.6 |
| Dividend yield | 2.69% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSBW | MG |
|---|---|---|
| 2022 | +2.4% | -33.6% |
| 2023 | +14.1% | +48.5% |
| 2024 | +14.3% | +23.8% |
| 2025 | +3.7% | +39.6% |
| 2026 | +5.9% | +52.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSBW and MG good diversifiers for each other?
To a limited degree. At 0.52 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 MG?
As of 2026-08-27, the correlation of weekly returns between FSBW and MG is 0.52 over 3 years, 0.50 over 1 year and 0.33 over 5 years.
Is MG a good diversifier for FSBW?
To a limited degree. At 0.52 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 0.52 mean?
On the −1 to +1 scale, 0.52 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/fsbw-vs-mg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fsbw-vs-mg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FSBW correlations · MG correlations
