MBWM vs NBBK: Correlation
How closely do Mercantile Bank Corporation (MBWM) and NB Bancorp, Inc. (NBBK) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MBWM and NBBK?
Across a 3-year window, the weekly returns of MBWM and NBBK correlate at 0.75, strong. Little has changed lately, as the 1-year reading of 0.79 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 624.4 %².
By 3-year correlation, NBBK places #17 of the 26 assets tracked against MBWM. Twelve-month performance is nearly a tie, at +23.7% for MBWM and +19.3% for NBBK.
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.
MBWM vs NBBK: side by side
| MBWM (Mercantile Bank Corporation) | NBBK (NB Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +23.7% | +19.3% |
| 5-year return | +126.2% | n/a |
| Volatility (ann.) | 29.8% | 27.6% |
| Beta vs S&P 500 | 0.82 | 0.84 |
| Max drawdown (3Y) | -25.0% | -24.7% |
| Market cap | $1.0B | $1.0B |
| P/E (trailing) | 10.5 | 14.7 |
| Dividend yield | 2.57% | 4.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MBWM | NBBK |
|---|---|---|
| 2022 | -0.8% | – |
| 2023 | +25.8% | – |
| 2024 | +14.0% | +34.3% |
| 2025 | +11.7% | +10.6% |
| 2026 | +26.1% | +13.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MBWM and NBBK good diversifiers for each other?
Only partially. A correlation of 0.75 means MBWM and NBBK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MBWM and NBBK?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.79 over the last year and n/a over 5 years.
Is NBBK a good diversifier for MBWM?
Only partially. A correlation of 0.75 means MBWM and NBBK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 mean?
On the −1 to +1 scale, 0.75 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/mbwm-vs-nbbk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mbwm-vs-nbbk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MBWM correlations · NBBK correlations
