FBNC vs HOFT: Correlation
How closely do First Bancorp (FBNC) and Hooker Furnishings Corporation (HOFT) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBNC and HOFT?
Over the past 3 years, FBNC and HOFT moved with a correlation of 0.57, which is moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 923.2 %².
Among the 23 assets we track against FBNC, HOFT ranks #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HOFT outperformed by 22.0 percentage points (+16.9% for FBNC against +38.9% for HOFT). Note the risk asymmetry: HOFT runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 HOFT: side by side
| FBNC (First Bancorp) | HOFT (Hooker Furnishings Corporation) | |
|---|---|---|
| 1-year return | +16.9% | +38.9% |
| 5-year return | +72.4% | -46.3% |
| Volatility (ann.) | 30.0% | 53.9% |
| Beta vs S&P 500 | 0.89 | 1.11 |
| Max drawdown (3Y) | -26.0% | -69.9% |
| Market cap | $2.6B | $0.1B |
| P/E (trailing) | 19.9 | – |
| Dividend yield | 1.47% | 5.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBNC | HOFT |
|---|---|---|
| 2022 | -4.2% | -15.7% |
| 2023 | -11.2% | +45.7% |
| 2024 | +21.7% | -43.3% |
| 2025 | +17.8% | -13.3% |
| 2026 | +26.2% | +21.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBNC and HOFT good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FBNC and HOFT?
As of 2026-08-27, the correlation of weekly returns between FBNC and HOFT is 0.57 over 3 years, 0.50 over 1 year and 0.48 over 5 years.
Is HOFT a good diversifier for FBNC?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: FBNC correlations · HOFT correlations
