MSBI vs REED: Correlation
How closely do Midland States Bancorp, Inc. (MSBI) and Reed's, Inc. (REED) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSBI and REED?
Across a 3-year window, the weekly returns of MSBI and REED correlate at -0.28, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.49 versus -0.28 over 3 years. Stretching to 5 years gives -0.14, with an annualized covariance of -1014.1 %².
Out of 11 assets tracked against MSBI, REED lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months MSBI outperformed by 171.2 percentage points (+87.1% for MSBI against -84.1% for REED). Risk is not evenly split, since REED carries 3.0 times the volatility of the other side.
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.
MSBI vs REED: side by side
| MSBI (Midland States Bancorp, Inc.) | REED (Reed's, Inc.) | |
|---|---|---|
| 1-year return | +87.1% | -84.1% |
| 5-year return | +70.9% | -99.5% |
| Volatility (ann.) | 34.4% | 104.6% |
| Beta vs S&P 500 | 0.70 | -0.39 |
| Max drawdown (3Y) | -44.3% | -96.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | 20.9 | – |
| Dividend yield | 3.90% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MSBI | REED |
|---|---|---|
| 2022 | +12.0% | -80.6% |
| 2023 | +9.1% | -54.3% |
| 2024 | -6.7% | -60.6% |
| 2025 | -6.9% | -44.4% |
| 2026 | +60.8% | -53.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSBI and REED good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MSBI and REED?
The MSBI/REED correlation stands at -0.28 on a 3-year window (1 year: -0.49, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is REED a good diversifier for MSBI?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
A reading of -0.28 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/msbi-vs-reed.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/msbi-vs-reed/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MSBI correlations · REED correlations
