MBWM vs SMBK: Correlation
Measured on weekly returns over the past three years, Mercantile Bank Corporation (MBWM) and SmartFinancial, Inc. (SMBK) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MBWM and SMBK?
On 3 years of weekly data the MBWM/SMBK correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.84 lands near the 3-year figure. The 5-year figure is 0.81, and annualized covariance runs at 731.4 %².
Within MBWM's tracked universe of 26 assets, SMBK comes in at #10 by 3-year correlation. Over the last 12 months SMBK came out ahead by 13.9 percentage points (+23.7% against +37.6%).
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 SMBK: side by side
| MBWM (Mercantile Bank Corporation) | SMBK (SmartFinancial, Inc.) | |
|---|---|---|
| 1-year return | +23.7% | +37.6% |
| 5-year return | +126.2% | +113.7% |
| Volatility (ann.) | 29.8% | 28.9% |
| Beta vs S&P 500 | 0.82 | 0.84 |
| Max drawdown (3Y) | -25.0% | -26.4% |
| Market cap | $1.0B | $0.9B |
| P/E (trailing) | 10.5 | 14.9 |
| Dividend yield | 2.57% | 0.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MBWM | SMBK |
|---|---|---|
| 2022 | -0.8% | +1.6% |
| 2023 | +25.8% | -9.7% |
| 2024 | +14.0% | +28.1% |
| 2025 | +11.7% | +20.5% |
| 2026 | +26.1% | +37.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MBWM and SMBK good diversifiers for each other?
No: a correlation of 0.85 means MBWM and SMBK tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between MBWM and SMBK?
The MBWM/SMBK correlation stands at 0.85 on a 3-year window (1 year: 0.84, 5 years: 0.81), computed from weekly returns as of 2026-08-27.
Is SMBK a good diversifier for MBWM?
No: a correlation of 0.85 means MBWM and SMBK tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.85 mean?
A reading of 0.85 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mbwm-vs-smbk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mbwm-vs-smbk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MBWM correlations · SMBK correlations
