HTB vs MBWM: Correlation
How closely do HomeTrust Bancshares, Inc. (HTB) and Mercantile Bank Corporation (MBWM) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTB and MBWM?
Across a 3-year window, the weekly returns of HTB and MBWM correlate at 0.82, very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.68) runs below the 3-year figure (0.82). Stretching to 5 years gives 0.78, with an annualized covariance of 670.4 %².
MBWM is one of the assets that tracks HTB most closely: it ranks #2 out of the 17 assets we track against HTB. On 12-month performance MBWM holds a 10.3-point edge, +13.4% against +23.7%.
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.
HTB vs MBWM: side by side
| HTB (HomeTrust Bancshares, Inc.) | MBWM (Mercantile Bank Corporation) | |
|---|---|---|
| 1-year return | +13.4% | +23.7% |
| 5-year return | +81.4% | +126.2% |
| Volatility (ann.) | 27.3% | 29.8% |
| Beta vs S&P 500 | 0.86 | 0.82 |
| Max drawdown (3Y) | -17.7% | -25.0% |
| Market cap | $0.8B | $1.0B |
| P/E (trailing) | 12.3 | 10.5 |
| Dividend yield | 1.13% | 2.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HTB | MBWM |
|---|---|---|
| 2022 | -20.9% | -0.8% |
| 2023 | +13.4% | +25.8% |
| 2024 | +27.0% | +14.0% |
| 2025 | +29.1% | +11.7% |
| 2026 | +9.3% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTB and MBWM good diversifiers for each other?
No. With a correlation of 0.82, HTB and MBWM move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between HTB and MBWM?
The HTB/MBWM correlation stands at 0.82 on a 3-year window (1 year: 0.68, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is MBWM a good diversifier for HTB?
No. With a correlation of 0.82, HTB and MBWM move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.82 mean?
On the −1 to +1 scale, 0.82 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.
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Related comparisons
Hubs: HTB correlations · MBWM correlations
