FRME vs. COLB
FRME (First Merchants Corporation) and COLB (Columbia Banking System, Inc.) are both stocks. Both operate in the Banks - Regional industry within the Financial Services sector. Over the past 10 years, FRME returned 8.59%/yr vs 5.40%/yr for COLB. At a 0.47 correlation, their price movements are largely independent.
Performance
FRME vs. COLB - Performance Comparison
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Returns By Period
In the year-to-date period, FRME achieves a 11.97% return, which is significantly lower than COLB's 13.21% return. Over the past 10 years, FRME has outperformed COLB with an annualized return of 8.59%, while COLB has yielded a comparatively lower 5.40% annualized return.
FRME
- 1D
- 1.15%
- 1M
- 3.57%
- YTD
- 11.97%
- 6M
- 8.52%
- 1Y
- 18.95%
- 3Y*
- 18.76%
- 5Y*
- 2.87%
- 10Y*
- 8.59%
COLB
- 1D
- 1.05%
- 1M
- 5.15%
- YTD
- 13.21%
- 6M
- 9.04%
- 1Y
- 44.74%
- 3Y*
- 21.75%
- 5Y*
- 0.39%
- 10Y*
- 5.40%
FRME vs. COLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRME First Merchants Corporation | 11.97% | -2.55% | 11.82% | -5.82% | 1.11% | 14.99% | -6.93% | 24.62% | -16.93% | 13.63% |
COLB Columbia Banking System, Inc. | 13.21% | 9.36% | 8.05% | -5.86% | -4.26% | -6.24% | -8.16% | 15.54% | -14.36% | -0.65% |
Correlation
The correlation between FRME and COLB is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 1992 | 0.47 |
Over the past year, FRME and COLB have become more correlated (0.74) than their long-term average of 0.47, meaning their price movements have been converging.
Fundamentals
FRME:
$2.51B
COLB:
$9.02B
FRME:
$3.40
COLB:
$2.53
FRME:
12.10
COLB:
12.22
FRME:
14.28
COLB:
1.66
FRME:
2.30
COLB:
2.42
FRME:
0.94
COLB:
1.18
FRME:
$1.05B
COLB:
$3.32B
FRME:
$484.80M
COLB:
$1.71B
FRME:
$217.48M
COLB:
$736.44M
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Return for Risk
FRME vs. COLB — Risk / Return Rank
FRME
COLB
FRME vs. COLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Merchants Corporation (FRME) and Columbia Banking System, Inc. (COLB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FRME | COLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.27 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 2.45 | -1.24 |
| Martin ratioReturn relative to average drawdown | 2.51 | 6.70 | -4.19 |
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Drawdowns
FRME vs. COLB - Drawdown Comparison
The maximum FRME drawdown since its inception was -81.31%, smaller than the maximum COLB drawdown of -85.93%. Use the drawdown chart below to compare losses from any high point for FRME and COLB.
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Drawdown Indicators
| FRME | COLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.31% | -85.93% | +4.62% |
Max Drawdown (1Y)Largest decline over 1 year | -15.73% | -18.38% | +2.65% |
Max Drawdown (3Y)Largest decline over 3 years | -23.94% | -36.43% | +12.49% |
Max Drawdown (5Y)Largest decline over 5 years | -43.72% | -51.72% | +8.00% |
Max Drawdown (10Y)Largest decline over 10 years | -53.03% | -60.80% | +7.77% |
Current DrawdownCurrent decline from peak | -3.81% | -20.07% | +16.26% |
Average DrawdownAverage peak-to-trough decline | -19.22% | -27.54% | +8.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.55% | 6.69% | +0.86% |
Volatility
FRME vs. COLB - Volatility Comparison
First Merchants Corporation (FRME) has a higher volatility of 7.32% compared to Columbia Banking System, Inc. (COLB) at 6.71%. This indicates that FRME's price experiences larger fluctuations and is considered to be riskier than COLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRME | COLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.32% | 6.71% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 16.56% | 18.96% | -2.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.60% | 30.13% | -5.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.93% | 38.07% | -8.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.81% | 37.99% | -5.18% |
Dividends
FRME vs. COLB - Dividend Comparison
FRME's dividend yield for the trailing twelve months is around 3.52%, less than COLB's 4.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COLB Columbia Banking System, Inc. | 4.76% | 5.19% | 5.33% | 5.17% | 3.98% | 3.48% | 3.12% | 2.75% | 2.76% | 2.03% | 3.42% | 3.57% |
FRME First Merchants Corporation | 3.52% | 3.82% | 3.48% | 3.61% | 3.04% | 2.70% | 2.78% | 2.40% | 2.45% | 1.64% | 1.43% | 1.61% |
Financials
FRME vs. COLB - Financials Comparison
This section allows you to compare key financial metrics between First Merchants Corporation and Columbia Banking System, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
FRME vs. COLB - Profitability Comparison
FRME - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, First Merchants Corporation reported a gross profit of 0.00 and revenue of 248.57M. Therefore, the gross margin over that period was 0.0%.
COLB - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Columbia Banking System, Inc. reported a gross profit of 0.00 and revenue of 816.00M. Therefore, the gross margin over that period was 0.0%.
FRME - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, First Merchants Corporation reported an operating income of 0.00 and revenue of 248.57M, resulting in an operating margin of 0.0%.
COLB - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Columbia Banking System, Inc. reported an operating income of 0.00 and revenue of 816.00M, resulting in an operating margin of 0.0%.
FRME - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, First Merchants Corporation reported a net income of 28.16M and revenue of 248.57M, resulting in a net margin of 11.3%.
COLB - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Columbia Banking System, Inc. reported a net income of 192.00M and revenue of 816.00M, resulting in a net margin of 23.5%.
Frequently Asked Questions
FRME and COLB have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRME has higher volatility (7.32%) compared to COLB (6.71%). In terms of maximum drawdown, FRME dropped -81.31% vs COLB's -85.93%.
COLB currently has the higher Sharpe Ratio (1.49 vs 0.78), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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