PBAM vs SHIM: Correlation
How closely do Private Bancorp of America, Inc. (PBAM) and Shimmick Corporation (SHIM) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PBAM and SHIM?
Over the past 3 years, PBAM and SHIM moved with a correlation of 0.43, which is moderate. Little has changed lately, as the 1-year reading of 0.33 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 984.7 %².
Within PBAM's tracked universe of 11 assets, SHIM comes in at #4 by 3-year correlation. The last year tells two different stories: PBAM led by 32.3 percentage points, +53.6% for PBAM against +21.3% for SHIM. Risk is not evenly split, since SHIM carries 6.4 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.
PBAM vs SHIM: side by side
| PBAM (Private Bancorp of America, Inc.) | SHIM (Shimmick Corporation) | |
|---|---|---|
| 1-year return | +53.6% | +21.3% |
| 5-year return | +253.3% | n/a |
| Volatility (ann.) | 19.0% | 120.7% |
| Beta vs S&P 500 | 0.13 | 1.54 |
| Max drawdown (3Y) | -14.8% | -82.2% |
| Market cap | $0.5B | $0.2B |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PBAM | SHIM |
|---|---|---|
| 2022 | +20.2% | – |
| 2023 | +8.1% | – |
| 2024 | +65.0% | -60.8% |
| 2025 | -0.4% | +12.7% |
| 2026 | +53.5% | +36.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PBAM and SHIM good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PBAM and SHIM?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.33 over the last year and n/a over 5 years.
Is SHIM a good diversifier for PBAM?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 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.
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Related comparisons
Hubs: PBAM correlations · SHIM correlations
