BY vs FCF: Correlation
How closely do Byline Bancorp, Inc. (BY) and First Commonwealth Financial Corporation (FCF) trade together? Their weekly returns over three years give a correlation of 0.89, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BY and FCF?
On 3 years of weekly data the BY/FCF correlation comes out at 0.89, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.89 over 1 year against 0.89 over 3. The 5-year figure is 0.84, and annualized covariance runs at 639.6 %².
FCF is one of the assets that tracks BY most closely: it ranks #3 out of the 70 assets we track against BY. The trailing year gives BY the advantage: +32.5% versus +20.3%, a 12.2-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.
BY vs FCF: side by side
| BY (Byline Bancorp, Inc.) | FCF (First Commonwealth Financial Corporation) | |
|---|---|---|
| 1-year return | +32.5% | +20.3% |
| 5-year return | +66.2% | +83.7% |
| Volatility (ann.) | 26.8% | 26.9% |
| Beta vs S&P 500 | 0.80 | 0.72 |
| Max drawdown (3Y) | -27.2% | -26.9% |
| Market cap | $1.7B | $2.1B |
| P/E (trailing) | 11.5 | 12.7 |
| Dividend yield | 1.15% | 2.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BY | FCF |
|---|---|---|
| 2022 | -14.7% | -10.3% |
| 2023 | +4.3% | +14.8% |
| 2024 | +25.0% | +13.4% |
| 2025 | +2.0% | +3.0% |
| 2026 | +32.7% | +26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BY and FCF good diversifiers for each other?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between BY and FCF?
The BY/FCF correlation stands at 0.89 on a 3-year window (1 year: 0.89, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is FCF a good diversifier for BY?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.89 mean?
On the −1 to +1 scale, 0.89 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: BY correlations · FCF correlations
