FBNC vs FCF: Correlation
Measured on weekly returns over the past three years, First Bancorp (FBNC) and First Commonwealth Financial Corporation (FCF) carry a correlation of 0.86, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBNC and FCF?
Over the past 3 years, FBNC and FCF moved with a correlation of 0.86, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.77 over 1 year against 0.86 over 3. Over 5 years the correlation is 0.82, and the annualized covariance of weekly returns is 692.2 %².
By 3-year correlation, FCF places #4 of the 23 assets tracked against FBNC. Their 12-month results are close: +16.9% for FBNC 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.
FBNC vs FCF: side by side
| FBNC (First Bancorp) | FCF (First Commonwealth Financial Corporation) | |
|---|---|---|
| 1-year return | +16.9% | +20.3% |
| 5-year return | +72.4% | +83.7% |
| Volatility (ann.) | 30.0% | 26.9% |
| Beta vs S&P 500 | 0.89 | 0.72 |
| Max drawdown (3Y) | -26.0% | -26.9% |
| Market cap | $2.6B | $2.1B |
| P/E (trailing) | 19.9 | 12.7 |
| Dividend yield | 1.47% | 2.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBNC | FCF |
|---|---|---|
| 2022 | -4.2% | -10.3% |
| 2023 | -11.2% | +14.8% |
| 2024 | +21.7% | +13.4% |
| 2025 | +17.8% | +3.0% |
| 2026 | +26.2% | +26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBNC and FCF good diversifiers for each other?
No: a correlation of 0.86 means FBNC and FCF tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between FBNC and FCF?
Using weekly returns as of 2026-08-27: 0.86 over 3 years, with 0.77 over the last year and 0.82 over 5 years.
Is FCF a good diversifier for FBNC?
No: a correlation of 0.86 means FBNC and FCF tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.86 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
$ curl https://www.pairbook.io/api/v1/pairs/fbnc-vs-fcf.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fbnc-vs-fcf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FBNC correlations · FCF correlations
