MBIN vs PFS: Correlation
How closely do Merchants Bancorp (MBIN) and Provident Financial Services, Inc (PFS) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MBIN and PFS?
Across a 3-year window, the weekly returns of MBIN and PFS correlate at 0.66, strong. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Stretching to 5 years gives 0.65, with an annualized covariance of 803.3 %².
Among the 11 assets we track against MBIN, PFS ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MBIN ahead by 39.4 points (+63.3% versus +23.9%).
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.
MBIN vs PFS: side by side
| MBIN (Merchants Bancorp) | PFS (Provident Financial Services, Inc) | |
|---|---|---|
| 1-year return | +63.3% | +23.9% |
| 5-year return | +132.1% | +37.5% |
| Volatility (ann.) | 39.8% | 30.4% |
| Beta vs S&P 500 | 0.90 | 0.87 |
| Max drawdown (3Y) | -43.9% | -31.3% |
| Market cap | $2.4B | $3.1B |
| P/E (trailing) | 10.7 | 9.8 |
| Dividend yield | 0.79% | 2.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MBIN | PFS |
|---|---|---|
| 2022 | -22.1% | -8.0% |
| 2023 | +77.0% | -10.8% |
| 2024 | -13.6% | +10.7% |
| 2025 | -5.5% | +10.2% |
| 2026 | +57.1% | +23.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MBIN and PFS good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MBIN and PFS?
The MBIN/PFS correlation stands at 0.66 on a 3-year window (1 year: 0.64, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is PFS a good diversifier for MBIN?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mbin-vs-pfs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mbin-vs-pfs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MBIN correlations · PFS correlations
