Studying dynamic functional connectivity (dFC) has been the focus of many studies in recent years. The most commonly used estimator for dFC uses a sliding window in combination with a connectivity estimator such as Pearson correlation. Here, we propose a new approach to estimate connectivity while preserving its full frequency range and subsequently examine both static and dynamic connectivity in one unified approach. This approach which we call filter banked connectivity (FBC), implements frequency tiling directly in the connectivity domain contrary to other studies where frequency tiling is done in the activity domain. This leads to more accurate modeling, and a unified approach to capture connectivity ranging from static to highly dynamic, avoiding the need to pick a specific band as in a sliding window approach.First, we demonstrated that our proposed approach, can estimate connectivity at frequencies that sliding window approach fails. Next we evaluated the ability of the approach to identify group differences by using the FBC approach to estimate dFNC in a resting fMRI data set including schizophrenia patients (SZ, n=151) and typical controls (TC, n=163). To summarize the results, we used k-means to cluster the FBC values into different clusters. Some states showed very weak low frequency strength and as such SWPC was not well suited to capture them. Additionally, we found that SZs tend to spend more time in states exhibiting higher frequencies and engaging the default mode network and its anticorrelations with other networks compared to TCs which spent more time in lower frequency states which primarily includes strong intercorrelations within the sensorimotor domains. In summary, the proposed approach offers a novel way to estimate connectivity while unifying static and dynamic connectivity analyses and can provide additional otherwise missed information about the frequency profile of connectivity patterns.