FCAP vs MP: Correlation
Measured on weekly returns over the past three years, First Capital, Inc. (FCAP) and MP Materials Corp. (MP) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCAP and MP?
Over the past 3 years, FCAP and MP moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.28 over 1 year against -0.23 over 3. Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -608.8 %².
Among the 13 assets we track against FCAP, MP sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months FCAP outperformed by 73.1 percentage points (+55.8% for FCAP against -17.3% for MP). One caveat on sizing: MP is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FCAP vs MP: side by side
| FCAP (First Capital, Inc.) | MP (MP Materials Corp.) | |
|---|---|---|
| 1-year return | +55.8% | -17.3% |
| 5-year return | +72.5% | +76.6% |
| Volatility (ann.) | 38.7% | 69.3% |
| Beta vs S&P 500 | 0.26 | 0.90 |
| Max drawdown (3Y) | -32.5% | -61.4% |
| Market cap | $0.2B | $10.5B |
| P/E (trailing) | 11.3 | – |
| Dividend yield | 2.02% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCAP | MP |
|---|---|---|
| 2022 | -36.3% | -46.5% |
| 2023 | +16.5% | -18.2% |
| 2024 | +20.0% | -21.4% |
| 2025 | +88.4% | +223.8% |
| 2026 | +6.3% | +16.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCAP and MP good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FCAP and MP?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.28 over the last year and -0.08 over 5 years.
Is MP a good diversifier for FCAP?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/fcap-vs-mp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fcap-vs-mp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FCAP correlations · MP correlations
