FCF vs FISI: Correlation
Measured on weekly returns over the past three years, First Commonwealth Financial Corporation (FCF) and Financial Institutions, Inc. (FISI) carry a correlation of 0.83, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCF and FISI?
On 3 years of weekly data the FCF/FISI correlation comes out at 0.83, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.76) sits close to the 3-year figure. The 5-year figure is 0.76, and annualized covariance runs at 716.6 %².
Within FCF's tracked universe of 64 assets, FISI comes in at #36 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FISI ahead by 34.0 points (+20.3% versus +54.3%).
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 FISI: side by side
| FCF (First Commonwealth Financial Corporation) | FISI (Financial Institutions, Inc.) | |
|---|---|---|
| 1-year return | +20.3% | +54.3% |
| 5-year return | +83.7% | +65.6% |
| Volatility (ann.) | 26.9% | 31.9% |
| Beta vs S&P 500 | 0.72 | 0.93 |
| Max drawdown (3Y) | -26.9% | -27.8% |
| Market cap | $2.1B | $0.8B |
| P/E (trailing) | 12.7 | 10.1 |
| Dividend yield | 2.64% | 3.09% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCF | FISI |
|---|---|---|
| 2022 | -10.3% | -20.0% |
| 2023 | +14.8% | -6.8% |
| 2024 | +13.4% | +35.5% |
| 2025 | +3.0% | +19.5% |
| 2026 | +26.0% | +33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCF and FISI good diversifiers for each other?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FCF and FISI?
The FCF/FISI correlation stands at 0.83 on a 3-year window (1 year: 0.76, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is FISI a good diversifier for FCF?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.83 mean?
A reading of 0.83 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 · FISI correlations
