MBWM vs NBN: Correlation
Mercantile Bank Corporation (MBWM) and Northeast Bank (NBN) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MBWM and NBN?
On 3 years of weekly data the MBWM/NBN correlation comes out at 0.72, strong. Little has changed lately, as the 1-year reading of 0.78 lands near the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 718.7 %².
By 3-year correlation, NBN places #20 of the 26 assets tracked against MBWM. The trailing year gives MBWM the advantage: +23.7% versus +17.7%, a 6.0-point spread.
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 NBN: side by side
| MBWM (Mercantile Bank Corporation) | NBN (Northeast Bank) | |
|---|---|---|
| 1-year return | +23.7% | +17.7% |
| 5-year return | +126.2% | +303.8% |
| Volatility (ann.) | 29.8% | 33.6% |
| Beta vs S&P 500 | 0.82 | 0.81 |
| Max drawdown (3Y) | -25.0% | -27.6% |
| Market cap | $1.0B | – |
| P/E (trailing) | 10.5 | 10.2 |
| Dividend yield | 2.57% | 0.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MBWM | NBN |
|---|---|---|
| 2022 | -0.8% | +17.9% |
| 2023 | +25.8% | +31.2% |
| 2024 | +14.0% | +66.3% |
| 2025 | +11.7% | +13.3% |
| 2026 | +26.1% | +25.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MBWM and NBN good diversifiers for each other?
Only partially. A correlation of 0.72 means MBWM and NBN 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 NBN?
The MBWM/NBN correlation stands at 0.72 on a 3-year window (1 year: 0.78, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is NBN a good diversifier for MBWM?
Only partially. A correlation of 0.72 means MBWM and NBN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 mean?
On the −1 to +1 scale, 0.72 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-nbn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mbwm-vs-nbn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MBWM correlations · NBN correlations
