FBIZ vs THFF: Correlation
Measured on weekly returns over the past three years, First Business Financial Services, Inc. (FBIZ) and First Financial Corporation (THFF) 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 THFF?
Across a 3-year window, the weekly returns of FBIZ and THFF correlate at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.89 over 1 year against 0.85 over 3. Stretching to 5 years gives 0.79, with an annualized covariance of 717.8 %².
Within FBIZ's tracked universe of 13 assets, THFF comes in at #4 by 3-year correlation. Twelve-month performance is nearly a tie, at +38.0% for FBIZ and +38.8% for THFF.
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 THFF: side by side
| FBIZ (First Business Financial Services, Inc.) | THFF (First Financial Corporation) | |
|---|---|---|
| 1-year return | +38.0% | +38.8% |
| 5-year return | +187.1% | +135.2% |
| Volatility (ann.) | 30.0% | 28.2% |
| Beta vs S&P 500 | 0.79 | 0.81 |
| Max drawdown (3Y) | -20.8% | -20.2% |
| Market cap | $0.6B | $0.9B |
| P/E (trailing) | 10.6 | 11.1 |
| Dividend yield | 1.80% | 2.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBIZ | THFF |
|---|---|---|
| 2022 | +28.2% | +4.4% |
| 2023 | +12.9% | -2.6% |
| 2024 | +18.4% | +11.1% |
| 2025 | +20.1% | +36.2% |
| 2026 | +32.6% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBIZ and THFF good diversifiers for each other?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FBIZ and THFF?
The FBIZ/THFF correlation stands at 0.85 on a 3-year window (1 year: 0.89, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is THFF a good diversifier for FBIZ?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
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-thff.json
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Related comparisons
Hubs: FBIZ correlations · THFF correlations
