MBWM vs PEBO: Correlation
How closely do Mercantile Bank Corporation (MBWM) and Peoples Bancorp Inc. (PEBO) trade together? Their weekly returns over three years give a correlation of 0.87, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MBWM and PEBO?
Over the past 3 years, MBWM and PEBO moved with a correlation of 0.87, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.88 over 1 year against 0.87 over 3. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 654.7 %².
Among the 26 assets we track against MBWM, PEBO ranks #6 by 3-year correlation. On 12-month performance PEBO holds a 9.9-point edge, +23.7% against +33.6%.
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 PEBO: side by side
| MBWM (Mercantile Bank Corporation) | PEBO (Peoples Bancorp Inc.) | |
|---|---|---|
| 1-year return | +23.7% | +33.6% |
| 5-year return | +126.2% | +66.3% |
| Volatility (ann.) | 29.8% | 25.1% |
| Beta vs S&P 500 | 0.82 | 0.69 |
| Max drawdown (3Y) | -25.0% | -24.5% |
| Market cap | $1.0B | $1.4B |
| P/E (trailing) | 10.5 | 12.0 |
| Dividend yield | 2.57% | 4.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MBWM | PEBO |
|---|---|---|
| 2022 | -0.8% | -6.6% |
| 2023 | +25.8% | +26.5% |
| 2024 | +14.0% | -1.0% |
| 2025 | +11.7% | +0.1% |
| 2026 | +26.1% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MBWM and PEBO good diversifiers for each other?
Not really. At 0.87, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between MBWM and PEBO?
As of 2026-08-27, the correlation of weekly returns between MBWM and PEBO is 0.87 over 3 years, 0.88 over 1 year and 0.80 over 5 years.
Is PEBO a good diversifier for MBWM?
Not really. At 0.87, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.87 mean?
A reading of 0.87 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MBWM correlations · PEBO correlations
