BEAT vs FCAP: Correlation
Heartbeam, Inc. (BEAT) and First Capital, Inc. (FCAP) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BEAT and FCAP?
Across a 3-year window, the weekly returns of BEAT and FCAP correlate at 0.36, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.55 versus 0.36 over 3 years. Stretching to 5 years gives 0.27, with an annualized covariance of 2149.6 %².
Within BEAT's tracked universe of 16 assets, FCAP comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FCAP outperformed by 114.6 percentage points (-58.8% for BEAT against +55.8% for FCAP). One caveat on sizing: BEAT is 3.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BEAT vs FCAP: side by side
| BEAT (Heartbeam, Inc.) | FCAP (First Capital, Inc.) | |
|---|---|---|
| 1-year return | -58.8% | +55.8% |
| 5-year return | -89.6% | +72.5% |
| Volatility (ann.) | 152.8% | 38.7% |
| Beta vs S&P 500 | 0.65 | 0.26 |
| Max drawdown (3Y) | -86.1% | -32.5% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 11.3 |
| Dividend yield | 0.00% | 2.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BEAT | FCAP |
|---|---|---|
| 2022 | +58.4% | -36.3% |
| 2023 | -51.8% | +16.5% |
| 2024 | -2.1% | +20.0% |
| 2025 | +4.3% | +88.4% |
| 2026 | -79.8% | +6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BEAT and FCAP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BEAT and FCAP?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.55 over the last year and 0.27 over 5 years.
Is FCAP a good diversifier for BEAT?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 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/beat-vs-fcap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/beat-vs-fcap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BEAT correlations · FCAP correlations
