MRBK vs WASH: Correlation
Measured on weekly returns over the past three years, Meridian Corporation (MRBK) and Washington Trust Bancorp, Inc. (WASH) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRBK and WASH?
On 3 years of weekly data the MRBK/WASH correlation comes out at 0.59, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.76 versus 0.59 over 3 years. The 5-year figure is 0.56, and annualized covariance runs at 738.0 %².
Among the 13 assets we track against MRBK, WASH ranks #5 by 3-year correlation. The trailing year gives WASH the advantage: +26.7% versus +40.1%, a 13.4-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.
MRBK vs WASH: side by side
| MRBK (Meridian Corporation) | WASH (Washington Trust Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +26.7% | +40.1% |
| 5-year return | +64.7% | +4.8% |
| Volatility (ann.) | 35.7% | 34.9% |
| Beta vs S&P 500 | 0.96 | 1.04 |
| Max drawdown (3Y) | -39.2% | -32.3% |
| Market cap | $0.2B | $0.8B |
| P/E (trailing) | 10.6 | 13.7 |
| Dividend yield | 2.81% | 5.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MRBK | WASH |
|---|---|---|
| 2022 | -13.3% | -12.5% |
| 2023 | -4.1% | -26.1% |
| 2024 | +3.4% | +2.7% |
| 2025 | +32.7% | +1.7% |
| 2026 | +12.4% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRBK and WASH good diversifiers for each other?
Only partially. A correlation of 0.59 means MRBK and WASH 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 MRBK and WASH?
The MRBK/WASH correlation stands at 0.59 on a 3-year window (1 year: 0.76, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is WASH a good diversifier for MRBK?
Only partially. A correlation of 0.59 means MRBK and WASH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 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/mrbk-vs-wash.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mrbk-vs-wash/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MRBK correlations · WASH correlations
