BY vs FNLC: Correlation
Measured on weekly returns over the past three years, Byline Bancorp, Inc. (BY) and First Bancorp, Inc (ME) (FNLC) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BY and FNLC?
On 3 years of weekly data the BY/FNLC correlation comes out at 0.80, 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 0.75, and annualized covariance runs at 635.8 %².
By 3-year correlation, FNLC places #38 of the 70 assets tracked against BY. Twelve-month performance is nearly a tie, at +32.5% for BY and +33.4% for FNLC.
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 FNLC: side by side
| BY (Byline Bancorp, Inc.) | FNLC (First Bancorp, Inc (ME)) | |
|---|---|---|
| 1-year return | +32.5% | +33.4% |
| 5-year return | +66.2% | +51.0% |
| Volatility (ann.) | 26.8% | 29.5% |
| Beta vs S&P 500 | 0.80 | 0.46 |
| Max drawdown (3Y) | -27.2% | -25.0% |
| Market cap | $1.7B | $0.4B |
| P/E (trailing) | 11.5 | 10.2 |
| Dividend yield | 1.15% | 4.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BY | FNLC |
|---|---|---|
| 2022 | -14.7% | -0.4% |
| 2023 | +4.3% | -0.5% |
| 2024 | +25.0% | +2.5% |
| 2025 | +2.0% | +2.3% |
| 2026 | +32.7% | +35.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BY and FNLC good diversifiers for each other?
No. With a correlation of 0.80, BY and FNLC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between BY and FNLC?
As of 2026-08-27, the correlation of weekly returns between BY and FNLC is 0.80 over 3 years, 0.81 over 1 year and 0.75 over 5 years.
Is FNLC a good diversifier for BY?
No. With a correlation of 0.80, BY and FNLC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.80 mean?
On the −1 to +1 scale, 0.80 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/by-vs-fnlc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/by-vs-fnlc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BY correlations · FNLC correlations
