SHBI vs STBA: Correlation
Measured on weekly returns over the past three years, Shore Bancshares, Inc. (SHBI) and S&T Bancorp, Inc. (STBA) carry a correlation of 0.87, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SHBI and STBA?
Across a 3-year window, the weekly returns of SHBI and STBA correlate at 0.87, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.87 over 1 year against 0.87 over 3. Stretching to 5 years gives 0.75, with an annualized covariance of 816.0 %².
By 3-year correlation, STBA places #5 of the 35 assets tracked against SHBI. On 12-month performance SHBI holds a 8.7-point edge, +37.7% against +29.0%.
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.
SHBI vs STBA: side by side
| SHBI (Shore Bancshares, Inc.) | STBA (S&T Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +37.7% | +29.0% |
| 5-year return | +51.7% | +102.2% |
| Volatility (ann.) | 32.6% | 28.7% |
| Beta vs S&P 500 | 0.89 | 0.68 |
| Max drawdown (3Y) | -31.9% | -26.1% |
| Market cap | $0.8B | $1.8B |
| P/E (trailing) | 11.7 | 13.3 |
| Dividend yield | 2.16% | 1.44% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SHBI | STBA |
|---|---|---|
| 2022 | -14.4% | +12.6% |
| 2023 | -15.1% | +2.1% |
| 2024 | +15.6% | +18.7% |
| 2025 | +15.0% | +6.7% |
| 2026 | +32.2% | +29.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SHBI and STBA good diversifiers for each other?
No: a correlation of 0.87 means SHBI and STBA tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between SHBI and STBA?
As of 2026-08-27, the correlation of weekly returns between SHBI and STBA is 0.87 over 3 years, 0.87 over 1 year and 0.75 over 5 years.
Is STBA a good diversifier for SHBI?
No: a correlation of 0.87 means SHBI and STBA tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.87 mean?
On the −1 to +1 scale, 0.87 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.
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Related comparisons
Hubs: SHBI correlations · STBA correlations
