FBP vs SGHC: Correlation
First BanCorp. New (FBP) and Super Group (SGHC) Limited (SGHC) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBP and SGHC?
On 3 years of weekly data the FBP/SGHC correlation comes out at 0.45, moderate. The past 12 months show a weaker link (0.15) than the 3-year average (0.45). The 5-year figure is 0.29, and annualized covariance runs at 571.2 %².
Among the 11 assets we track against FBP, SGHC sits near the bottom by co-movement, at rank #7. The trailing year gives FBP the advantage: +26.4% versus +14.9%, a 11.5-point spread. Risk is not evenly split, since SGHC carries 1.9 times the volatility of the other side.
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.
FBP vs SGHC: side by side
| FBP (First BanCorp. New) | SGHC (Super Group (SGHC) Limited) | |
|---|---|---|
| 1-year return | +26.4% | +14.9% |
| 5-year return | +155.4% | +49.1% |
| Volatility (ann.) | 25.8% | 49.2% |
| Beta vs S&P 500 | 0.84 | 1.19 |
| Max drawdown (3Y) | -22.9% | -39.5% |
| Market cap | $4.2B | $7.0B |
| P/E (trailing) | 11.8 | 19.2 |
| Dividend yield | 2.72% | 1.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBP | SGHC |
|---|---|---|
| 2022 | -4.7% | -69.8% |
| 2023 | +34.8% | +5.7% |
| 2024 | +16.9% | +107.7% |
| 2025 | +14.4% | +93.7% |
| 2026 | +36.0% | +16.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBP and SGHC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FBP and SGHC?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.15 over the last year and 0.29 over 5 years.
Is SGHC a good diversifier for FBP?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FBP correlations · SGHC correlations
