CPF vs FNB: Correlation
Measured on weekly returns over the past three years, Central Pacific Financial Corp New (CPF) and F.N.B. Corporation (FNB) carry a correlation of 0.86, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPF and FNB?
Across a 3-year window, the weekly returns of CPF and FNB correlate at 0.86, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.86) sits close to the 3-year figure. Stretching to 5 years gives 0.79, with an annualized covariance of 622.7 %².
Few assets follow CPF as closely as FNB, which ranks #3 of 19 tracked partners. Over the last 12 months CPF came out ahead by 11.0 percentage points (+24.4% against +13.4%).
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.
CPF vs FNB: side by side
| CPF (Central Pacific Financial Corp New) | FNB (F.N.B. Corporation) | |
|---|---|---|
| 1-year return | +24.4% | +13.4% |
| 5-year return | +85.5% | +91.1% |
| Volatility (ann.) | 26.5% | 27.4% |
| Beta vs S&P 500 | 0.84 | 1.03 |
| Max drawdown (3Y) | -25.2% | -32.6% |
| Market cap | $1.0B | $6.6B |
| P/E (trailing) | 12.2 | 11.0 |
| Dividend yield | 2.97% | 2.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CPF | FNB |
|---|---|---|
| 2022 | -24.7% | +11.7% |
| 2023 | +2.9% | +9.8% |
| 2024 | +54.3% | +11.0% |
| 2025 | +11.3% | +19.4% |
| 2026 | +23.5% | +9.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPF and FNB good diversifiers for each other?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between CPF and FNB?
Using weekly returns as of 2026-08-27: 0.86 over 3 years, with 0.86 over the last year and 0.79 over 5 years.
Is FNB a good diversifier for CPF?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.86 mean?
A reading of 0.86 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cpf-vs-fnb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cpf-vs-fnb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CPF correlations · FNB correlations
