FBNC vs HOG: Correlation
How closely do First Bancorp (FBNC) and Harley-Davidson, Inc. (HOG) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBNC and HOG?
Across a 3-year window, the weekly returns of FBNC and HOG correlate at 0.58, moderate. The past 12 months show a weaker link (0.44) than the 3-year average (0.58). Stretching to 5 years gives 0.55, with an annualized covariance of 592.5 %².
Among the 23 assets we track against FBNC, HOG ranks #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FBNC outperformed by 18.3 percentage points (+16.9% for FBNC against -1.4% for HOG).
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 HOG: side by side
| FBNC (First Bancorp) | HOG (Harley-Davidson, Inc.) | |
|---|---|---|
| 1-year return | +16.9% | -1.4% |
| 5-year return | +72.4% | -22.1% |
| Volatility (ann.) | 30.0% | 34.2% |
| Beta vs S&P 500 | 0.89 | 0.91 |
| Max drawdown (3Y) | -26.0% | -58.7% |
| Market cap | $2.6B | $2.9B |
| P/E (trailing) | 19.9 | 15.5 |
| Dividend yield | 1.47% | 2.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBNC | HOG |
|---|---|---|
| 2022 | -4.2% | +12.1% |
| 2023 | -11.2% | -9.8% |
| 2024 | +21.7% | -16.6% |
| 2025 | +17.8% | -30.1% |
| 2026 | +26.2% | +38.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBNC and HOG good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FBNC and HOG?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.44 over the last year and 0.55 over 5 years.
Is HOG a good diversifier for FBNC?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.58 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-hog.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fbnc-vs-hog/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FBNC correlations · HOG correlations
