HNVR vs RMBI: Correlation
Measured on weekly returns over the past three years, Hanover Bancorp, Inc. (HNVR) and Richmond Mutual Bancorporation, Inc. (RMBI) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HNVR and RMBI?
On 3 years of weekly data the HNVR/RMBI correlation comes out at 0.45, moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.45 over 3. The 5-year figure is 0.38, and annualized covariance runs at 311.6 %².
By 3-year correlation, RMBI places #7 of the 13 assets tracked against HNVR. The trailing year gives HNVR the advantage: +23.0% versus +14.6%, a 8.4-point spread.
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.
HNVR vs RMBI: side by side
| HNVR (Hanover Bancorp, Inc.) | RMBI (Richmond Mutual Bancorporation, Inc.) | |
|---|---|---|
| 1-year return | +23.0% | +14.6% |
| 5-year return | +40.1% | +24.6% |
| Volatility (ann.) | 27.1% | 25.3% |
| Beta vs S&P 500 | 0.50 | 0.34 |
| Max drawdown (3Y) | -28.2% | -20.8% |
| Market cap | $0.2B | $0.3B |
| P/E (trailing) | 21.3 | 13.1 |
| Dividend yield | 1.48% | 3.78% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HNVR | RMBI |
|---|---|---|
| 2022 | – | -16.7% |
| 2023 | -11.6% | -7.2% |
| 2024 | +33.7% | +28.6% |
| 2025 | +2.0% | +3.7% |
| 2026 | +18.5% | +16.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HNVR and RMBI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HNVR and RMBI?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.41 over the last year and 0.38 over 5 years.
Is RMBI a good diversifier for HNVR?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hnvr-vs-rmbi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hnvr-vs-rmbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HNVR correlations · RMBI correlations
