EBC vs FFBC: Correlation
How closely do Eastern Bankshares, Inc. (EBC) and First Financial Bancorp. (FFBC) trade together? Their weekly returns over three years give a correlation of 0.84, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EBC and FFBC?
Over the past 3 years, EBC and FFBC moved with a correlation of 0.84, which is very strong, meaning they move nearly in lockstep. Lately the two have drifted apart, with the 1-year correlation at 0.71 versus 0.84 over 3 years. Over 5 years the correlation is 0.74, and the annualized covariance of weekly returns is 667.8 %².
Within EBC's tracked universe of 11 assets, FFBC comes in at #5 by 3-year correlation. The trailing year gives EBC the advantage: +34.8% versus +26.7%, a 8.1-point spread.
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.
EBC vs FFBC: side by side
| EBC (Eastern Bankshares, Inc.) | FFBC (First Financial Bancorp.) | |
|---|---|---|
| 1-year return | +34.8% | +26.7% |
| 5-year return | +30.6% | +69.6% |
| Volatility (ann.) | 28.3% | 28.0% |
| Beta vs S&P 500 | 0.84 | 0.81 |
| Max drawdown (3Y) | -25.0% | -26.1% |
| Market cap | $5.1B | $3.4B |
| P/E (trailing) | 12.5 | 11.6 |
| Dividend yield | 2.41% | 3.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EBC | FFBC |
|---|---|---|
| 2022 | -12.7% | +3.4% |
| 2023 | -15.0% | +2.4% |
| 2024 | +25.1% | +17.6% |
| 2025 | +10.1% | -3.3% |
| 2026 | +23.3% | +33.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EBC and FFBC good diversifiers for each other?
No. With a correlation of 0.84, EBC and FFBC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between EBC and FFBC?
The EBC/FFBC correlation stands at 0.84 on a 3-year window (1 year: 0.71, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is FFBC a good diversifier for EBC?
No. With a correlation of 0.84, EBC and FFBC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.84 mean?
A reading of 0.84 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: EBC correlations · FFBC correlations
