FBNC vs MG: Correlation
Measured on weekly returns over the past three years, First Bancorp (FBNC) and Mistras Group Inc (MG) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBNC and MG?
On 3 years of weekly data the FBNC/MG correlation comes out at 0.51, moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.51 over 3. The 5-year figure is 0.30, and annualized covariance runs at 605.2 %².
Among the 23 assets we track against FBNC, MG ranks #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MG ahead by 82.8 points (+16.9% versus +99.7%).
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 MG: side by side
| FBNC (First Bancorp) | MG (Mistras Group Inc) | |
|---|---|---|
| 1-year return | +16.9% | +99.7% |
| 5-year return | +72.4% | +87.3% |
| Volatility (ann.) | 30.0% | 39.7% |
| Beta vs S&P 500 | 0.89 | 0.84 |
| Max drawdown (3Y) | -26.0% | -40.8% |
| Market cap | $2.6B | $0.6B |
| P/E (trailing) | 19.9 | 22.6 |
| Dividend yield | 1.47% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBNC | MG |
|---|---|---|
| 2022 | -4.2% | -33.6% |
| 2023 | -11.2% | +48.5% |
| 2024 | +21.7% | +23.8% |
| 2025 | +17.8% | +39.6% |
| 2026 | +26.2% | +52.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBNC and MG good diversifiers for each other?
To a limited degree. At 0.51 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 MG?
As of 2026-08-27, the correlation of weekly returns between FBNC and MG is 0.51 over 3 years, 0.45 over 1 year and 0.30 over 5 years.
Is MG a good diversifier for FBNC?
To a limited degree. At 0.51 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 0.51 mean?
On the −1 to +1 scale, 0.51 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fbnc-vs-mg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fbnc-vs-mg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FBNC correlations · MG correlations
