FCF vs FFBC: Correlation
First Commonwealth Financial Corporation (FCF) and First Financial Bancorp. (FFBC) show a very strong relationship: their 3-year correlation of weekly returns is 0.89.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCF and FFBC?
Over the past 3 years, FCF and FFBC moved with a correlation of 0.89, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.82 over 1 year against 0.89 over 3. Over 5 years the correlation is 0.86, and the annualized covariance of weekly returns is 673.2 %².
Among the 64 assets we track against FCF, FFBC ranks #5 by 3-year correlation. Over the last 12 months FFBC came out ahead by 6.4 percentage points (+20.3% against +26.7%).
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.
FCF vs FFBC: side by side
| FCF (First Commonwealth Financial Corporation) | FFBC (First Financial Bancorp.) | |
|---|---|---|
| 1-year return | +20.3% | +26.7% |
| 5-year return | +83.7% | +69.6% |
| Volatility (ann.) | 26.9% | 28.0% |
| Beta vs S&P 500 | 0.72 | 0.81 |
| Max drawdown (3Y) | -26.9% | -26.1% |
| Market cap | $2.1B | $3.4B |
| P/E (trailing) | 12.7 | 11.6 |
| Dividend yield | 2.64% | 3.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCF | FFBC |
|---|---|---|
| 2022 | -10.3% | +3.4% |
| 2023 | +14.8% | +2.4% |
| 2024 | +13.4% | +17.6% |
| 2025 | +3.0% | -3.3% |
| 2026 | +26.0% | +33.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCF and FFBC good diversifiers for each other?
No: a correlation of 0.89 means FCF and FFBC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between FCF and FFBC?
The FCF/FFBC correlation stands at 0.89 on a 3-year window (1 year: 0.82, 5 years: 0.86), computed from weekly returns as of 2026-08-27.
Is FFBC a good diversifier for FCF?
No: a correlation of 0.89 means FCF and FFBC tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.89 mean?
A reading of 0.89 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: FCF correlations · FFBC correlations
