CLBK vs FCF: Correlation
Measured on weekly returns over the past three years, Columbia Financial, Inc. (CLBK) and First Commonwealth Financial Corporation (FCF) carry a correlation of 0.77, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLBK and FCF?
Across a 3-year window, the weekly returns of CLBK and FCF correlate at 0.77, strong. The past 12 months show a weaker link (0.63) than the 3-year average (0.77). Stretching to 5 years gives 0.62, with an annualized covariance of 626.6 %².
Few assets follow CLBK as closely as FCF, which ranks #2 of 11 tracked partners. Their recent paths diverged sharply: over the last 12 months CLBK outperformed by 50.4 percentage points (+70.7% for CLBK against +20.3% for FCF).
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.
CLBK vs FCF: side by side
| CLBK (Columbia Financial, Inc.) | FCF (First Commonwealth Financial Corporation) | |
|---|---|---|
| 1-year return | +70.7% | +20.3% |
| 5-year return | +45.5% | +83.7% |
| Volatility (ann.) | 30.1% | 26.9% |
| Beta vs S&P 500 | 0.64 | 0.72 |
| Max drawdown (3Y) | -33.9% | -26.9% |
| Market cap | $1.2B | $2.1B |
| P/E (trailing) | 21.3 | 12.7 |
| Dividend yield | 0.00% | 2.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLBK | FCF |
|---|---|---|
| 2022 | +3.6% | -10.3% |
| 2023 | -10.8% | +14.8% |
| 2024 | -18.0% | +13.4% |
| 2025 | -1.7% | +3.0% |
| 2026 | +67.0% | +26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLBK and FCF good diversifiers for each other?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CLBK and FCF?
As of 2026-08-27, the correlation of weekly returns between CLBK and FCF is 0.77 over 3 years, 0.63 over 1 year and 0.62 over 5 years.
Is FCF a good diversifier for CLBK?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.77 mean?
On the −1 to +1 scale, 0.77 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/clbk-vs-fcf.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: CLBK correlations · FCF correlations
