FBNC vs LOB: Correlation
First Bancorp (FBNC) and Live Oak Bancshares, Inc. (LOB) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBNC and LOB?
On 3 years of weekly data the FBNC/LOB correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.68) runs below the 3-year figure (0.80). The 5-year figure is 0.68, and annualized covariance runs at 1011.4 %².
By 3-year correlation, LOB places #6 of the 23 assets tracked against FBNC. Over the last 12 months FBNC came out ahead by 13.1 percentage points (+16.9% against +3.8%).
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 LOB: side by side
| FBNC (First Bancorp) | LOB (Live Oak Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +16.9% | +3.8% |
| 5-year return | +72.4% | -33.6% |
| Volatility (ann.) | 30.0% | 42.3% |
| Beta vs S&P 500 | 0.89 | 1.11 |
| Max drawdown (3Y) | -26.0% | -53.8% |
| Market cap | $2.6B | $1.9B |
| P/E (trailing) | 19.9 | 14.0 |
| Dividend yield | 1.47% | 0.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBNC | LOB |
|---|---|---|
| 2022 | -4.2% | -65.3% |
| 2023 | -11.2% | +51.3% |
| 2024 | +21.7% | -12.8% |
| 2025 | +17.8% | -12.8% |
| 2026 | +26.2% | +16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBNC and LOB good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FBNC and LOB?
The FBNC/LOB correlation stands at 0.80 on a 3-year window (1 year: 0.68, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is LOB a good diversifier for FBNC?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 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-lob.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fbnc-vs-lob/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FBNC correlations · LOB correlations
