FBNC vs TOWN: Correlation
First Bancorp (FBNC) and Towne Bank (TOWN) show a very strong relationship: their 3-year correlation of weekly returns is 0.86.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBNC and TOWN?
On 3 years of weekly data the FBNC/TOWN correlation comes out at 0.86, very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.70) than the 3-year average (0.86). The 5-year figure is 0.84, and annualized covariance runs at 648.4 %².
Within FBNC's tracked universe of 23 assets, TOWN comes in at #5 by 3-year correlation. On 12-month performance FBNC holds a 10.2-point edge, +16.9% against +6.7%.
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 TOWN: side by side
| FBNC (First Bancorp) | TOWN (Towne Bank) | |
|---|---|---|
| 1-year return | +16.9% | +6.7% |
| 5-year return | +72.4% | +47.6% |
| Volatility (ann.) | 30.0% | 25.0% |
| Beta vs S&P 500 | 0.89 | 0.77 |
| Max drawdown (3Y) | -26.0% | -18.4% |
| Market cap | $2.6B | $3.5B |
| P/E (trailing) | 19.9 | 18.0 |
| Dividend yield | 1.47% | 2.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBNC | TOWN |
|---|---|---|
| 2022 | -4.2% | +0.7% |
| 2023 | -11.2% | +0.3% |
| 2024 | +21.7% | +18.3% |
| 2025 | +17.8% | +1.0% |
| 2026 | +26.2% | +16.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBNC and TOWN good diversifiers for each other?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FBNC and TOWN?
As of 2026-08-27, the correlation of weekly returns between FBNC and TOWN is 0.86 over 3 years, 0.70 over 1 year and 0.84 over 5 years.
Is TOWN a good diversifier for FBNC?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.86 mean?
On the −1 to +1 scale, 0.86 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 · TOWN correlations
