FBNC vs PDLB: Correlation
How closely do First Bancorp (FBNC) and Ponce Financial Group, Inc. (PDLB) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBNC and PDLB?
Over the past 3 years, FBNC and PDLB moved with a correlation of 0.71, which is strong. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 546.1 %².
Among the 23 assets we track against FBNC, PDLB ranks #7 by 3-year correlation. The last year tells two different stories: PDLB led by 19.5 percentage points, +16.9% for FBNC against +36.4% for PDLB.
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 PDLB: side by side
| FBNC (First Bancorp) | PDLB (Ponce Financial Group, Inc.) | |
|---|---|---|
| 1-year return | +16.9% | +36.4% |
| 5-year return | +72.4% | +106.7% |
| Volatility (ann.) | 30.0% | 25.5% |
| Beta vs S&P 500 | 0.89 | 0.76 |
| Max drawdown (3Y) | -26.0% | -21.5% |
| Market cap | $2.6B | $0.5B |
| P/E (trailing) | 19.9 | 14.2 |
| Dividend yield | 1.47% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBNC | PDLB |
|---|---|---|
| 2022 | -4.2% | -10.3% |
| 2023 | -11.2% | +4.7% |
| 2024 | +21.7% | +33.2% |
| 2025 | +17.8% | +25.8% |
| 2026 | +26.2% | +24.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBNC and PDLB good diversifiers for each other?
To a limited degree. At 0.71 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 PDLB?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.61 over the last year and 0.63 over 5 years.
Is PDLB a good diversifier for FBNC?
To a limited degree. At 0.71 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 0.71 mean?
On the −1 to +1 scale, 0.71 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.
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Related comparisons
Hubs: FBNC correlations · PDLB correlations
