OBT vs SHBI: Correlation
How closely do Orange County Bancorp, Inc. (OBT) and Shore Bancshares, Inc. (SHBI) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OBT and SHBI?
Across a 3-year window, the weekly returns of OBT and SHBI correlate at 0.74, strong. The relationship has been stable: the 1-year correlation (0.70) sits close to the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 926.5 %².
In OBT's tracked universe of 11 assets, SHBI sits right near the top at #3. The trailing year gives OBT the advantage: +45.7% versus +37.7%, a 8.0-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.
OBT vs SHBI: side by side
| OBT (Orange County Bancorp, Inc.) | SHBI (Shore Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +45.7% | +37.7% |
| 5-year return | +143.9% | +51.7% |
| Volatility (ann.) | 38.3% | 32.6% |
| Beta vs S&P 500 | 0.83 | 0.89 |
| Max drawdown (3Y) | -32.5% | -31.9% |
| Market cap | $0.5B | $0.8B |
| P/E (trailing) | 10.6 | 11.7 |
| Dividend yield | 1.77% | 2.16% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OBT | SHBI |
|---|---|---|
| 2022 | +18.3% | -14.4% |
| 2023 | +32.1% | -15.1% |
| 2024 | -6.1% | +15.6% |
| 2025 | +5.0% | +15.0% |
| 2026 | +34.4% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OBT and SHBI good diversifiers for each other?
Only partially. A correlation of 0.74 means OBT and SHBI 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 OBT and SHBI?
The OBT/SHBI correlation stands at 0.74 on a 3-year window (1 year: 0.70, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is SHBI a good diversifier for OBT?
Only partially. A correlation of 0.74 means OBT and SHBI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/obt-vs-shbi.json
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Related comparisons
Hubs: OBT correlations · SHBI correlations
