FBIZ vs FCF: Correlation
Measured on weekly returns over the past three years, First Business Financial Services, Inc. (FBIZ) and First Commonwealth Financial Corporation (FCF) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBIZ and FCF?
On 3 years of weekly data the FBIZ/FCF correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.80 over 1 year against 0.85 over 3. The 5-year figure is 0.76, and annualized covariance runs at 682.8 %².
Few assets follow FBIZ as closely as FCF, which ranks #3 of 13 tracked partners. Correlation aside, the last 12 months split them widely, with FBIZ ahead by 17.7 points (+38.0% versus +20.3%).
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.
FBIZ vs FCF: side by side
| FBIZ (First Business Financial Services, Inc.) | FCF (First Commonwealth Financial Corporation) | |
|---|---|---|
| 1-year return | +38.0% | +20.3% |
| 5-year return | +187.1% | +83.7% |
| Volatility (ann.) | 30.0% | 26.9% |
| Beta vs S&P 500 | 0.79 | 0.72 |
| Max drawdown (3Y) | -20.8% | -26.9% |
| Market cap | $0.6B | $2.1B |
| P/E (trailing) | 10.6 | 12.7 |
| Dividend yield | 1.80% | 2.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBIZ | FCF |
|---|---|---|
| 2022 | +28.2% | -10.3% |
| 2023 | +12.9% | +14.8% |
| 2024 | +18.4% | +13.4% |
| 2025 | +20.1% | +3.0% |
| 2026 | +32.6% | +26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBIZ and FCF good diversifiers for each other?
No: a correlation of 0.85 means FBIZ and FCF tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between FBIZ and FCF?
The FBIZ/FCF correlation stands at 0.85 on a 3-year window (1 year: 0.80, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is FCF a good diversifier for FBIZ?
No: a correlation of 0.85 means FBIZ and FCF tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.85 mean?
A reading of 0.85 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/fbiz-vs-fcf.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fbiz-vs-fcf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FBIZ correlations · FCF correlations
