AX vs FCF: Correlation
Axos Financial, Inc. (AX) and First Commonwealth Financial Corporation (FCF) show a very strong relationship: their 3-year correlation of weekly returns is 0.85.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AX and FCF?
On 3 years of weekly data the AX/FCF correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.76 over 1 year against 0.85 over 3. The 5-year figure is 0.80, and annualized covariance runs at 873.9 %².
FCF is one of the assets that tracks AX most closely: it ranks #1 out of the 15 assets we track against AX. On 12-month performance FCF holds a 14.8-point edge, +5.5% against +20.3%.
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.
AX vs FCF: side by side
| AX (Axos Financial, Inc.) | FCF (First Commonwealth Financial Corporation) | |
|---|---|---|
| 1-year return | +5.5% | +20.3% |
| 5-year return | +99.7% | +83.7% |
| Volatility (ann.) | 38.3% | 26.9% |
| Beta vs S&P 500 | 1.12 | 0.72 |
| Max drawdown (3Y) | -34.9% | -26.9% |
| Market cap | $5.5B | $2.1B |
| P/E (trailing) | 11.6 | 12.7 |
| Dividend yield | 0.00% | 2.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AX | FCF |
|---|---|---|
| 2022 | -31.6% | -10.3% |
| 2023 | +42.9% | +14.8% |
| 2024 | +27.9% | +13.4% |
| 2025 | +23.4% | +3.0% |
| 2026 | +13.0% | +26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AX and FCF good diversifiers for each other?
No: a correlation of 0.85 means AX and FCF tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between AX and FCF?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.76 over the last year and 0.80 over 5 years.
Is FCF a good diversifier for AX?
No: a correlation of 0.85 means AX and FCF tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.85 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
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Related comparisons
Hubs: AX correlations · FCF correlations
