FBNC vs TRC: Correlation
First Bancorp (FBNC) and Tejon Ranch Co (TRC) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBNC and TRC?
Over the past 3 years, FBNC and TRC moved with a correlation of 0.53, which is moderate. The past 12 months show a weaker link (0.41) than the 3-year average (0.53). Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 374.9 %².
Among the 23 assets we track against FBNC, TRC ranks #14 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FBNC outperformed by 24.0 percentage points (+16.9% for FBNC against -7.1% for TRC).
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 TRC: side by side
| FBNC (First Bancorp) | TRC (Tejon Ranch Co) | |
|---|---|---|
| 1-year return | +16.9% | -7.1% |
| 5-year return | +72.4% | -15.6% |
| Volatility (ann.) | 30.0% | 23.7% |
| Beta vs S&P 500 | 0.89 | 0.44 |
| Max drawdown (3Y) | -26.0% | -24.3% |
| Market cap | $2.6B | $0.4B |
| P/E (trailing) | 19.9 | 73.4 |
| Dividend yield | 1.47% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBNC | TRC |
|---|---|---|
| 2022 | -4.2% | -1.3% |
| 2023 | -11.2% | -8.7% |
| 2024 | +21.7% | -7.6% |
| 2025 | +17.8% | -0.8% |
| 2026 | +26.2% | +2.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBNC and TRC good diversifiers for each other?
Only partially. A correlation of 0.53 means FBNC and TRC 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 TRC?
As of 2026-08-27, the correlation of weekly returns between FBNC and TRC is 0.53 over 3 years, 0.41 over 1 year and 0.49 over 5 years.
Is TRC a good diversifier for FBNC?
Only partially. A correlation of 0.53 means FBNC and TRC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 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-trc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fbnc-vs-trc/)
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Related comparisons
Hubs: FBNC correlations · TRC correlations
