MCHB vs OCFC: Correlation
Measured on weekly returns over the past three years, Mechanics Bancorp (MCHB) and OceanFirst Financial Corp. (OCFC) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCHB and OCFC?
Over the past 3 years, MCHB and OCFC moved with a correlation of 0.54, which is moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 1086.2 %².
Few assets follow MCHB as closely as OCFC, which ranks #2 of 11 tracked partners. Their recent paths diverged sharply: over the last 12 months MCHB outperformed by 19.6 percentage points (+26.0% for MCHB against +6.4% for OCFC). One caveat on sizing: MCHB is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MCHB vs OCFC: side by side
| MCHB (Mechanics Bancorp) | OCFC (OceanFirst Financial Corp.) | |
|---|---|---|
| 1-year return | +26.0% | +6.4% |
| 5-year return | -51.9% | +10.9% |
| Volatility (ann.) | 63.9% | 31.8% |
| Beta vs S&P 500 | 1.12 | 1.04 |
| Max drawdown (3Y) | -56.1% | -29.8% |
| Market cap | $3.6B | $1.8B |
| P/E (trailing) | 12.3 | 23.6 |
| Dividend yield | 8.16% | 4.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MCHB | OCFC |
|---|---|---|
| 2022 | -44.8% | -0.9% |
| 2023 | -60.6% | -14.2% |
| 2024 | +10.9% | +9.4% |
| 2025 | +29.9% | +3.9% |
| 2026 | +18.7% | +8.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCHB and OCFC good diversifiers for each other?
Only partially. A correlation of 0.54 means MCHB and OCFC 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 MCHB and OCFC?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.49 over the last year and 0.55 over 5 years.
Is OCFC a good diversifier for MCHB?
Only partially. A correlation of 0.54 means MCHB and OCFC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mchb-vs-ocfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mchb-vs-ocfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MCHB correlations · OCFC correlations
