LOCL vs MCHB: Correlation
How closely do Local Bounti Corporation (LOCL) and Mechanics Bancorp (MCHB) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOCL and MCHB?
On 3 years of weekly data the LOCL/MCHB correlation comes out at 0.37, moderate. The past 12 months show a weaker link (0.05) than the 3-year average (0.37). The 5-year figure is 0.27, and annualized covariance runs at 3363.7 %².
Few assets follow LOCL as closely as MCHB, which ranks #1 of 34 tracked partners. The last year tells two different stories: MCHB led by 84.8 percentage points, -58.8% for LOCL against +26.0% for MCHB. Risk is not evenly split, since LOCL carries 2.2 times the volatility of the other side.
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.
LOCL vs MCHB: side by side
| LOCL (Local Bounti Corporation) | MCHB (Mechanics Bancorp) | |
|---|---|---|
| 1-year return | -58.8% | +26.0% |
| 5-year return | -99.2% | -51.9% |
| Volatility (ann.) | 142.7% | 63.9% |
| Beta vs S&P 500 | -0.49 | 1.12 |
| Max drawdown (3Y) | -79.4% | -56.1% |
| Market cap | – | $3.6B |
| P/E (trailing) | – | 12.3 |
| Dividend yield | 0.00% | 8.16% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LOCL | MCHB |
|---|---|---|
| 2022 | -78.4% | -44.8% |
| 2023 | -88.5% | -60.6% |
| 2024 | +0.0% | +10.9% |
| 2025 | +3.4% | +29.9% |
| 2026 | -53.8% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOCL and MCHB good diversifiers for each other?
Reasonably. At 0.37, LOCL and MCHB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LOCL and MCHB?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.05 over the last year and 0.27 over 5 years.
Is MCHB a good diversifier for LOCL?
Reasonably. At 0.37, LOCL and MCHB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/locl-vs-mchb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/locl-vs-mchb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LOCL correlations · MCHB correlations
