CCBG vs FMNB: Correlation
Measured on weekly returns over the past three years, Capital City Bank Group (CCBG) and Farmers National Banc Corp. (FMNB) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCBG and FMNB?
On 3 years of weekly data the CCBG/FMNB correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.78 over 1 year against 0.82 over 3. The 5-year figure is 0.71, and annualized covariance runs at 586.3 %².
In CCBG's tracked universe of 13 assets, FMNB sits right near the top at #2. On 12-month performance CCBG holds a 9.6-point edge, +19.9% against +10.3%.
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.
CCBG vs FMNB: side by side
| CCBG (Capital City Bank Group) | FMNB (Farmers National Banc Corp.) | |
|---|---|---|
| 1-year return | +19.9% | +10.3% |
| 5-year return | +154.3% | +27.6% |
| Volatility (ann.) | 25.9% | 27.7% |
| Beta vs S&P 500 | 0.53 | 0.71 |
| Max drawdown (3Y) | -16.5% | -23.6% |
| Market cap | $0.9B | $0.9B |
| P/E (trailing) | 14.2 | 10.6 |
| Dividend yield | 2.08% | 4.34% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCBG | FMNB |
|---|---|---|
| 2022 | +25.8% | -20.6% |
| 2023 | -7.1% | +7.8% |
| 2024 | +28.1% | +3.4% |
| 2025 | +19.1% | -1.7% |
| 2026 | +21.7% | +21.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCBG and FMNB good diversifiers for each other?
No: a correlation of 0.82 means CCBG and FMNB tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CCBG and FMNB?
As of 2026-08-27, the correlation of weekly returns between CCBG and FMNB is 0.82 over 3 years, 0.78 over 1 year and 0.71 over 5 years.
Is FMNB a good diversifier for CCBG?
No: a correlation of 0.82 means CCBG and FMNB tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 mean?
On the −1 to +1 scale, 0.82 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/ccbg-vs-fmnb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ccbg-vs-fmnb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCBG correlations · FMNB correlations
