CHCO vs THFF: Correlation
City Holding Company (CHCO) and First Financial Corporation (THFF) show a very strong relationship: their 3-year correlation of weekly returns is 0.85.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHCO and THFF?
On 3 years of weekly data the CHCO/THFF correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.85) sits close to the 3-year figure. The 5-year figure is 0.79, and annualized covariance runs at 496.3 %².
Within CHCO's tracked universe of 16 assets, THFF comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with THFF ahead by 25.5 points (+13.3% versus +38.8%).
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.
CHCO vs THFF: side by side
| CHCO (City Holding Company) | THFF (First Financial Corporation) | |
|---|---|---|
| 1-year return | +13.3% | +38.8% |
| 5-year return | +113.1% | +135.2% |
| Volatility (ann.) | 20.7% | 28.2% |
| Beta vs S&P 500 | 0.45 | 0.81 |
| Max drawdown (3Y) | -18.4% | -20.2% |
| Market cap | $2.0B | $0.9B |
| P/E (trailing) | 15.7 | 11.1 |
| Dividend yield | 2.41% | 2.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHCO | THFF |
|---|---|---|
| 2022 | +17.3% | +4.4% |
| 2023 | +22.0% | -2.6% |
| 2024 | +10.4% | +11.1% |
| 2025 | +3.4% | +36.2% |
| 2026 | +22.6% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHCO and THFF good diversifiers for each other?
No: a correlation of 0.85 means CHCO and THFF tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CHCO and THFF?
The CHCO/THFF correlation stands at 0.85 on a 3-year window (1 year: 0.85, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is THFF a good diversifier for CHCO?
No: a correlation of 0.85 means CHCO and THFF tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 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/chco-vs-thff.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/chco-vs-thff/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHCO correlations · THFF correlations
