BUSE vs FNLC: Correlation
Measured on weekly returns over the past three years, First Busey Corporation (BUSE) and First Bancorp, Inc (ME) (FNLC) carry a correlation of 0.81, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BUSE and FNLC?
On 3 years of weekly data the BUSE/FNLC correlation comes out at 0.81, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. The 5-year figure is 0.77, and annualized covariance runs at 638.4 %².
Among the 38 assets we track against BUSE, FNLC ranks #22 by 3-year correlation. The trailing year gives FNLC the advantage: +27.5% versus +33.4%, a 5.9-point spread.
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.
BUSE vs FNLC: side by side
| BUSE (First Busey Corporation) | FNLC (First Bancorp, Inc (ME)) | |
|---|---|---|
| 1-year return | +27.5% | +33.4% |
| 5-year return | +56.7% | +51.0% |
| Volatility (ann.) | 26.7% | 29.5% |
| Beta vs S&P 500 | 0.79 | 0.46 |
| Max drawdown (3Y) | -31.0% | -25.0% |
| Market cap | $2.5B | $0.4B |
| P/E (trailing) | 12.3 | 10.2 |
| Dividend yield | 3.39% | 4.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BUSE | FNLC |
|---|---|---|
| 2022 | -5.5% | -0.4% |
| 2023 | +5.1% | -0.5% |
| 2024 | -1.2% | +2.5% |
| 2025 | +5.5% | +2.3% |
| 2026 | +30.7% | +35.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BUSE and FNLC good diversifiers for each other?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between BUSE and FNLC?
The BUSE/FNLC correlation stands at 0.81 on a 3-year window (1 year: 0.81, 5 years: 0.77), computed from weekly returns as of 2026-08-27.
Is FNLC a good diversifier for BUSE?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.81 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/buse-vs-fnlc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/buse-vs-fnlc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BUSE correlations · FNLC correlations
