SNV vs. FRME

Last updated Jun 3, 2026

SNV (Synovus Financial Corp.) and FRME (First Merchants Corporation) are both stocks. Both operate in the Banks - Regional industry within the Financial Services sector. At a 0.46 correlation, their price movements are largely independent.

Performance

SNV vs. FRME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Synovus Financial Corp. (SNV) and First Merchants Corporation (FRME). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SNV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FRME

• 1D: 1.57%
• 1M: -0.67%
• YTD: 8.13%
• 6M: 11.23%
• 1Y: 12.00%
• 3Y*: 16.14%
• 5Y*: 0.86%
• 10Y*: 7.53%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SNV vs. FRME - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SNV Synovus Financial Corp.	0.00%	0.82%	41.11%	5.14%	-18.87%	52.30%	-12.44%	26.60%	-31.74%	18.29%
FRME First Merchants Corporation	8.13%	-2.55%	11.82%	-5.82%	1.11%	14.99%	-6.93%	24.62%	-16.93%	13.63%

Correlation

The correlation between SNV and FRME is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Feb 26, 1992	0.46

The correlation between SNV and FRME shifts across timeframes, from 0.46 (all time) to 0.76 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap SNV : $7.02B FRME : $2.45B
EPS SNV : $5.72 FRME : $3.40
PE Ratio SNV : 8.75 FRME : 11.80
PEG Ratio SNV : 0.48 FRME : 13.92
PS Ratio SNV : 2.10 FRME : 2.24
PB Ratio SNV : 1.33 FRME : 0.92
Total Revenue (TTM) SNV : $3.33B FRME : $1.05B
Gross Profit (TTM) SNV : $2.29B FRME : $484.80M
EBITDA (TTM) SNV : $1.05B FRME : $217.48M

Return for Risk

SNV vs. FRME — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FRME

FRME Risk / Return Rank: 53
FRME Sharpe Ratio Rank: 57
FRME Sortino Ratio Rank: 50
FRME Omega Ratio Rank: 48
FRME Calmar Ratio Rank: 55
FRME Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SNV vs. FRME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Synovus Financial Corp. (SNV) and First Merchants Corporation (FRME). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SNV	FRME	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.49	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.03	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.23	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.20	—

Drawdowns

Drawdown Indicators

	SNV	FRME	Difference
Max Drawdown Largest peak-to-trough decline	—	-81.31%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-15.73%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-43.72%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-53.03%	—
Current Drawdown Current decline from peak	—	-7.10%	—
Average Drawdown Average peak-to-trough decline	—	-19.24%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.56%	—

Volatility

Volatility by Period

	SNV	FRME	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.09%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	24.43%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	30.00%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	32.78%	—

Dividends

SNV vs. FRME - Dividend Comparison

SNV's dividend yield for the trailing twelve months is around 2.34%, less than FRME's 3.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRME First Merchants Corporation	3.59%	3.82%	3.48%	3.61%	3.04%	2.70%	2.78%	2.40%	2.45%	1.64%	1.43%	1.61%
SNV Synovus Financial Corp.	2.34%	3.12%	2.97%	4.04%	3.62%	2.76%	4.08%	3.06%	3.13%	1.25%	1.17%	1.30%

Financials

SNV vs. FRME - Profitability Comparison

The chart below illustrates the profitability comparison between Synovus Financial Corp. and First Merchants Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

SNV - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Synovus Financial Corp. reported a gross profit of 593.70M and revenue of 615.39M. Therefore, the gross margin over that period was 96.5%.

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%.

SNV - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Synovus Financial Corp. reported an operating income of 244.97M and revenue of 615.39M, resulting in an operating margin of 39.8%.

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%.

SNV - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Synovus Financial Corp. reported a net income of 196.99M and revenue of 615.39M, resulting in a net margin of 32.0%.

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%.

Frequently Asked Questions

Can I hold both SNV and FRME in my portfolio?

SNV and FRME have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.