SHBI vs VABK: Correlation
How closely do Shore Bancshares, Inc. (SHBI) and Virginia National Bankshares Corporation (VABK) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SHBI and VABK?
Over the past 3 years, SHBI and VABK moved with a correlation of 0.60, which is strong. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 690.0 %².
Within SHBI's tracked universe of 35 assets, VABK comes in at #29 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SHBI ahead by 21.7 points (+37.7% versus +16.0%).
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 VABK: side by side
| SHBI (Shore Bancshares, Inc.) | VABK (Virginia National Bankshares Corporation) | |
|---|---|---|
| 1-year return | +37.7% | +16.0% |
| 5-year return | +51.7% | +50.7% |
| Volatility (ann.) | 32.6% | 35.4% |
| Beta vs S&P 500 | 0.89 | 0.71 |
| Max drawdown (3Y) | -31.9% | -40.9% |
| Market cap | $0.8B | $0.3B |
| P/E (trailing) | 11.7 | 10.1 |
| Dividend yield | 2.16% | 3.10% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SHBI | VABK |
|---|---|---|
| 2022 | -14.4% | +0.3% |
| 2023 | -15.1% | -2.5% |
| 2024 | +15.6% | +15.5% |
| 2025 | +15.0% | +8.2% |
| 2026 | +32.2% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SHBI and VABK good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SHBI and VABK?
As of 2026-08-27, the correlation of weekly returns between SHBI and VABK is 0.60 over 3 years, 0.50 over 1 year and 0.50 over 5 years.
Is VABK a good diversifier for SHBI?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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/shbi-vs-vabk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/shbi-vs-vabk/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SHBI correlations · VABK correlations
