IBCP vs PEBO: Correlation
Independent Bank Corporation (IBCP) and Peoples Bancorp Inc. (PEBO) show a very strong relationship: their 3-year correlation of weekly returns is 0.87.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBCP and PEBO?
Over the past 3 years, IBCP and PEBO moved with a correlation of 0.87, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.83) sits close to the 3-year figure. Over 5 years the correlation is 0.79, and the annualized covariance of weekly returns is 626.1 %².
PEBO is one of the assets that tracks IBCP most closely: it ranks #3 out of the 15 assets we track against IBCP. The last year tells two different stories: PEBO led by 19.9 percentage points, +13.7% for IBCP against +33.6% for PEBO.
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.
IBCP vs PEBO: side by side
| IBCP (Independent Bank Corporation) | PEBO (Peoples Bancorp Inc.) | |
|---|---|---|
| 1-year return | +13.7% | +33.6% |
| 5-year return | +112.7% | +66.3% |
| Volatility (ann.) | 28.7% | 25.1% |
| Beta vs S&P 500 | 0.77 | 0.69 |
| Max drawdown (3Y) | -27.5% | -24.5% |
| Market cap | $0.8B | $1.4B |
| P/E (trailing) | 10.6 | 12.0 |
| Dividend yield | 2.94% | 4.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBCP | PEBO |
|---|---|---|
| 2022 | +4.3% | -6.6% |
| 2023 | +14.0% | +26.5% |
| 2024 | +38.5% | -1.0% |
| 2025 | -3.5% | +0.1% |
| 2026 | +15.3% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBCP and PEBO good diversifiers for each other?
No. With a correlation of 0.87, IBCP and PEBO move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between IBCP and PEBO?
The IBCP/PEBO correlation stands at 0.87 on a 3-year window (1 year: 0.83, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is PEBO a good diversifier for IBCP?
No. With a correlation of 0.87, IBCP and PEBO move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.87 mean?
A reading of 0.87 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: IBCP correlations · PEBO correlations
