FRME First Merchants Corporation Common Stock

together opposite · bar = ρ at each lag, −10 … 0 … +10 days · holdout ρ · click a card for the full picture

Same exposure: EFSC move almost identically to FRME (|ρ| ≥ 0.93). Same-day relationships for the group are listed here.

FRME vs KRE

Both indexed to 100 at 2026-05-11.

FRME KRE · range 97–114 · 2026-05-11 → 2026-11-06

Same day, ranked by what's left after the market and sector factors are removed ("beyond mkt").

KRE State Street SPDR S&P Regional Banking ETF

ρ +0.86beyond mkt +0.39holdout +0.90stable 100%robust

WSBC WesBanco, Inc. Common Stock

ρ +0.83beyond mkt +0.38holdout +0.85stable 100%robust

CATY Cathay General Bancorp Common Stock

ρ +0.83beyond mkt +0.37holdout +0.83stable 100%robust

SBCF Seacoast Banking Corporation of Florida Common Stock

ρ +0.80beyond mkt +0.35holdout +0.84stable 100%robust

BUSE First Busey Corporation Class A Common Stock

ρ +0.82beyond mkt +0.34holdout +0.84stable 100%robust

TRMK Trustmark Corporation Common Stock

ρ +0.82beyond mkt +0.32holdout +0.86stable 100%robust

VIXM ProShares VIX Mid-Term Futures ETF

ρ -0.34beyond mkt +0.06holdout -0.30stable 100%robust

VXX iPath Series B S&P 500 VIX Short-Term Futures ETN

ρ -0.39beyond mkt -0.01holdout -0.31stable 100%robust

No day-to-day relationship, but 5- or 10-day returns move together.

KALU Kaiser Aluminum Corporation Common Stock

horizon 10dρ +0.40holdout +0.13stable 75%moderate

Biggest shifts in same-day correlation over the last 63 trading days versus the year before.

FNWD Finward Bancorp Common Stock

Δ +0.59recent +0.88prior +0.28beyond mkt +0.04

KALU Kaiser Aluminum Corporation Common Stock

Δ -0.59recent -0.23prior +0.35beyond mkt -0.05

BWMN Bowman Consulting Group Ltd. Common Stock

Δ -0.58recent -0.24prior +0.34beyond mkt -0.05

WKHS Workhorse Group, Inc. Common Stock

Δ -0.51recent -0.34prior +0.17beyond mkt -0.01

MDXG MiMedx Group, Inc Common Stock

Δ -0.51recent -0.17prior +0.34beyond mkt -0.02

MSM MSC Industrial Direct Co., Inc. Class A

Δ -0.51recent -0.06prior +0.44beyond mkt +0.05

Strong beyond-the-market co-movement with few shared neighbours.

Symbol	beyond mkt	raw ρ	shared
KRE State Street SPDR S&P Regional Banking ETF	+0.39	+0.86	10
WSBC WesBanco, Inc. Common Stock	+0.38	+0.83	17
SBCF Seacoast Banking Corporation of Florida Common Stock	+0.35	+0.80	17
CATY Cathay General Bancorp Common Stock	+0.37	+0.83	18