FBNC vs ONIT: Correlation
First Bancorp (FBNC) and Onity Group Inc. (ONIT) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBNC and ONIT?
On 3 years of weekly data the FBNC/ONIT correlation comes out at 0.54, moderate. The past 12 months show a weaker link (0.29) than the 3-year average (0.54). The 5-year figure is 0.47, and annualized covariance runs at 718.3 %².
By 3-year correlation, ONIT places #12 of the 23 assets tracked against FBNC. The last year tells two different stories: FBNC led by 35.2 percentage points, +16.9% for FBNC against -18.3% for ONIT.
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 ONIT: side by side
| FBNC (First Bancorp) | ONIT (Onity Group Inc.) | |
|---|---|---|
| 1-year return | +16.9% | -18.3% |
| 5-year return | +72.4% | +26.4% |
| Volatility (ann.) | 30.0% | 44.1% |
| Beta vs S&P 500 | 0.89 | 1.15 |
| Max drawdown (3Y) | -26.0% | -36.5% |
| Market cap | $2.6B | $0.3B |
| P/E (trailing) | 19.9 | 2.2 |
| Dividend yield | 1.47% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBNC | ONIT |
|---|---|---|
| 2022 | -4.2% | -23.5% |
| 2023 | -11.2% | +0.6% |
| 2024 | +21.7% | -0.2% |
| 2025 | +17.8% | +49.1% |
| 2026 | +26.2% | -24.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBNC and ONIT good diversifiers for each other?
Only partially. A correlation of 0.54 means FBNC and ONIT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between FBNC and ONIT?
As of 2026-08-27, the correlation of weekly returns between FBNC and ONIT is 0.54 over 3 years, 0.29 over 1 year and 0.47 over 5 years.
Is ONIT a good diversifier for FBNC?
Only partially. A correlation of 0.54 means FBNC and ONIT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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-onit.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fbnc-vs-onit/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FBNC correlations · ONIT correlations
