ECBK vs FCAP: Correlation
How closely do ECB Bancorp, Inc. (ECBK) and First Capital, Inc. (FCAP) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECBK and FCAP?
On 3 years of weekly data the ECBK/FCAP correlation comes out at 0.35, moderate. Recent behaviour matches the longer record: 0.31 over 1 year against 0.35 over 3. The 5-year figure is 0.31, and annualized covariance runs at 312.5 %².
By 3-year correlation, FCAP places #6 of the 11 assets tracked against ECBK. Their recent paths diverged sharply: over the last 12 months FCAP outperformed by 34.9 percentage points (+20.9% for ECBK against +55.8% for FCAP). One caveat on sizing: FCAP is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ECBK vs FCAP: side by side
| ECBK (ECB Bancorp, Inc.) | FCAP (First Capital, Inc.) | |
|---|---|---|
| 1-year return | +20.9% | +55.8% |
| 5-year return | n/a | +72.5% |
| Volatility (ann.) | 23.4% | 38.7% |
| Beta vs S&P 500 | 0.45 | 0.26 |
| Max drawdown (3Y) | -19.7% | -32.5% |
| Market cap | $0.2B | $0.2B |
| P/E (trailing) | 14.8 | 11.3 |
| Dividend yield | 0.00% | 2.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ECBK | FCAP |
|---|---|---|
| 2022 | – | -36.3% |
| 2023 | -21.7% | +16.5% |
| 2024 | +18.2% | +20.0% |
| 2025 | +17.2% | +88.4% |
| 2026 | +19.2% | +6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECBK and FCAP good diversifiers for each other?
Reasonably. At 0.35, ECBK and FCAP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ECBK and FCAP?
As of 2026-08-27, the correlation of weekly returns between ECBK and FCAP is 0.35 over 3 years, 0.31 over 1 year and 0.31 over 5 years.
Is FCAP a good diversifier for ECBK?
Reasonably. At 0.35, ECBK and FCAP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 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/ecbk-vs-fcap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ecbk-vs-fcap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ECBK correlations · FCAP correlations
