EQBK vs FCF: Correlation
Measured on weekly returns over the past three years, Equity Bancshares, Inc. (EQBK) and First Commonwealth Financial Corporation (FCF) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQBK and FCF?
Across a 3-year window, the weekly returns of EQBK and FCF correlate at 0.82, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.80 lands near the 3-year figure. Stretching to 5 years gives 0.73, with an annualized covariance of 636.0 %².
Few assets follow EQBK as closely as FCF, which ranks #2 of 15 tracked partners. Their 12-month results are close: +23.7% for EQBK 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.
EQBK vs FCF: side by side
| EQBK (Equity Bancshares, Inc.) | FCF (First Commonwealth Financial Corporation) | |
|---|---|---|
| 1-year return | +23.7% | +20.3% |
| 5-year return | +67.0% | +83.7% |
| Volatility (ann.) | 28.8% | 26.9% |
| Beta vs S&P 500 | 0.76 | 0.72 |
| Max drawdown (3Y) | -28.3% | -26.9% |
| Market cap | $1.0B | $2.1B |
| P/E (trailing) | 31.5 | 12.7 |
| Dividend yield | 1.45% | 2.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQBK | FCF |
|---|---|---|
| 2022 | -2.6% | -10.3% |
| 2023 | +5.5% | +14.8% |
| 2024 | +26.9% | +13.4% |
| 2025 | +6.9% | +3.0% |
| 2026 | +12.2% | +26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQBK and FCF good diversifiers for each other?
No. With a correlation of 0.82, EQBK and FCF move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between EQBK and FCF?
The EQBK/FCF correlation stands at 0.82 on a 3-year window (1 year: 0.80, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is FCF a good diversifier for EQBK?
No. With a correlation of 0.82, EQBK and FCF move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.82 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: EQBK correlations · FCF correlations
