JMSB vs SHBI: Correlation
How closely do John Marshall Bancorp, Inc. (JMSB) and Shore Bancshares, Inc. (SHBI) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JMSB and SHBI?
Over the past 3 years, JMSB and SHBI moved with a correlation of 0.68, which is strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.68 over 3. Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 706.3 %².
SHBI is one of the assets that tracks JMSB most closely: it ranks #3 out of the 10 assets we track against JMSB. Their recent paths diverged sharply: over the last 12 months SHBI outperformed by 23.9 percentage points (+13.8% for JMSB against +37.7% for SHBI).
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.
JMSB vs SHBI: side by side
| JMSB (John Marshall Bancorp, Inc.) | SHBI (Shore Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +13.8% | +37.7% |
| 5-year return | +32.1% | +51.7% |
| Volatility (ann.) | 31.7% | 32.6% |
| Beta vs S&P 500 | 0.65 | 0.89 |
| Max drawdown (3Y) | -45.4% | -31.9% |
| Market cap | $0.3B | $0.8B |
| P/E (trailing) | 13.1 | 11.7 |
| Dividend yield | 0.79% | 2.16% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JMSB | SHBI |
|---|---|---|
| 2022 | +45.8% | -14.4% |
| 2023 | -20.8% | -15.1% |
| 2024 | -9.7% | +15.6% |
| 2025 | +1.2% | +15.0% |
| 2026 | +14.5% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JMSB and SHBI good diversifiers for each other?
To a limited degree. At 0.68 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 JMSB and SHBI?
As of 2026-08-27, the correlation of weekly returns between JMSB and SHBI is 0.68 over 3 years, 0.62 over 1 year and 0.50 over 5 years.
Is SHBI a good diversifier for JMSB?
To a limited degree. At 0.68 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 0.68 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: JMSB correlations · SHBI correlations
