SHBI vs THFF: Correlation
How closely do Shore Bancshares, Inc. (SHBI) and First Financial Corporation (THFF) trade together? Their weekly returns over three years give a correlation of 0.88, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SHBI and THFF?
On 3 years of weekly data the SHBI/THFF correlation comes out at 0.88, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.87 over 1 year against 0.88 over 3. The 5-year figure is 0.79, and annualized covariance runs at 804.1 %².
Within SHBI's tracked universe of 35 assets, THFF comes in at #4 by 3-year correlation. Twelve-month performance is nearly a tie, at +37.7% for SHBI and +38.8% for THFF.
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 THFF: side by side
| SHBI (Shore Bancshares, Inc.) | THFF (First Financial Corporation) | |
|---|---|---|
| 1-year return | +37.7% | +38.8% |
| 5-year return | +51.7% | +135.2% |
| Volatility (ann.) | 32.6% | 28.2% |
| Beta vs S&P 500 | 0.89 | 0.81 |
| Max drawdown (3Y) | -31.9% | -20.2% |
| Market cap | $0.8B | $0.9B |
| P/E (trailing) | 11.7 | 11.1 |
| Dividend yield | 2.16% | 2.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SHBI | THFF |
|---|---|---|
| 2022 | -14.4% | +4.4% |
| 2023 | -15.1% | -2.6% |
| 2024 | +15.6% | +11.1% |
| 2025 | +15.0% | +36.2% |
| 2026 | +32.2% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SHBI and THFF good diversifiers for each other?
No. With a correlation of 0.88, SHBI and THFF move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between SHBI and THFF?
Using weekly returns as of 2026-08-27: 0.88 over 3 years, with 0.87 over the last year and 0.79 over 5 years.
Is THFF a good diversifier for SHBI?
No. With a correlation of 0.88, SHBI and THFF move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.88 mean?
A reading of 0.88 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
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Related comparisons
Hubs: SHBI correlations · THFF correlations
