AMSF vs FNLC: Correlation
How closely do AMERISAFE, Inc. (AMSF) and First Bancorp, Inc (ME) (FNLC) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMSF and FNLC?
Over the past 3 years, AMSF and FNLC moved with a correlation of 0.50, which is moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.50 over 3. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 363.3 %².
By 3-year correlation, FNLC places #5 of the 12 assets tracked against AMSF. Correlation aside, the last 12 months split them widely, with FNLC ahead by 72.9 points (-39.5% versus +33.4%).
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.
AMSF vs FNLC: side by side
| AMSF (AMERISAFE, Inc.) | FNLC (First Bancorp, Inc (ME)) | |
|---|---|---|
| 1-year return | -39.5% | +33.4% |
| 5-year return | -29.7% | +51.0% |
| Volatility (ann.) | 24.6% | 29.5% |
| Beta vs S&P 500 | 0.22 | 0.46 |
| Max drawdown (3Y) | -50.2% | -25.0% |
| Market cap | $0.5B | $0.4B |
| P/E (trailing) | 10.5 | 10.2 |
| Dividend yield | 6.09% | 4.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMSF | FNLC |
|---|---|---|
| 2022 | +6.1% | -0.4% |
| 2023 | -0.9% | -0.5% |
| 2024 | +19.6% | +2.5% |
| 2025 | -20.8% | +2.3% |
| 2026 | -30.2% | +35.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMSF and FNLC good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AMSF and FNLC?
The AMSF/FNLC correlation stands at 0.50 on a 3-year window (1 year: 0.57, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is FNLC a good diversifier for AMSF?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amsf-vs-fnlc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amsf-vs-fnlc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMSF correlations · FNLC correlations
