CZFS vs FMNB: Correlation
How closely do Citizens Financial Services, Inc. (CZFS) and Farmers National Banc Corp. (FMNB) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CZFS and FMNB?
Over the past 3 years, CZFS and FMNB moved with a correlation of 0.74, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.60 versus 0.74 over 3 years. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 890.6 %².
Few assets follow CZFS as closely as FMNB, which ranks #1 of 14 tracked partners. Correlation aside, the last 12 months split them widely, with CZFS ahead by 24.5 points (+34.8% versus +10.3%). Risk is not evenly split, since CZFS carries 1.6 times the volatility of the other side.
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.
CZFS vs FMNB: side by side
| CZFS (Citizens Financial Services, Inc.) | FMNB (Farmers National Banc Corp.) | |
|---|---|---|
| 1-year return | +34.8% | +10.3% |
| 5-year return | +56.8% | +27.6% |
| Volatility (ann.) | 43.2% | 27.7% |
| Beta vs S&P 500 | 0.95 | 0.71 |
| Max drawdown (3Y) | -38.1% | -23.6% |
| Market cap | $0.4B | $0.9B |
| P/E (trailing) | 9.4 | 10.6 |
| Dividend yield | 2.49% | 4.34% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CZFS | FMNB |
|---|---|---|
| 2022 | +31.2% | -20.6% |
| 2023 | -12.3% | +7.8% |
| 2024 | +2.7% | +3.4% |
| 2025 | -6.9% | -1.7% |
| 2026 | +44.6% | +21.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CZFS and FMNB good diversifiers for each other?
Only partially. A correlation of 0.74 means CZFS and FMNB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CZFS and FMNB?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.60 over the last year and 0.57 over 5 years.
Is FMNB a good diversifier for CZFS?
Only partially. A correlation of 0.74 means CZFS and FMNB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 mean?
A reading of 0.74 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/czfs-vs-fmnb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/czfs-vs-fmnb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CZFS correlations · FMNB correlations
