FBNC vs OTTR: Correlation
How closely do First Bancorp (FBNC) and Otter Tail Corporation (OTTR) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBNC and OTTR?
Across a 3-year window, the weekly returns of FBNC and OTTR correlate at 0.53, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.41 versus 0.53 over 3 years. Stretching to 5 years gives 0.36, with an annualized covariance of 427.4 %².
Among the 23 assets we track against FBNC, OTTR ranks #13 by 3-year correlation. Over the last 12 months FBNC came out ahead by 6.2 percentage points (+16.9% against +10.7%).
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 OTTR: side by side
| FBNC (First Bancorp) | OTTR (Otter Tail Corporation) | |
|---|---|---|
| 1-year return | +16.9% | +10.7% |
| 5-year return | +72.4% | +88.2% |
| Volatility (ann.) | 30.0% | 26.7% |
| Beta vs S&P 500 | 0.89 | 0.57 |
| Max drawdown (3Y) | -26.0% | -27.1% |
| Market cap | $2.6B | $3.8B |
| P/E (trailing) | 19.9 | 19.9 |
| Dividend yield | 1.47% | 2.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBNC | OTTR |
|---|---|---|
| 2022 | -4.2% | -15.6% |
| 2023 | -11.2% | +48.1% |
| 2024 | +21.7% | -11.2% |
| 2025 | +17.8% | +12.3% |
| 2026 | +26.2% | +15.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBNC and OTTR good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FBNC and OTTR?
The FBNC/OTTR correlation stands at 0.53 on a 3-year window (1 year: 0.41, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is OTTR a good diversifier for FBNC?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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-ottr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fbnc-vs-ottr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FBNC correlations · OTTR correlations
