FCF vs FMBH: Correlation
First Commonwealth Financial Corporation (FCF) and First Mid Bancshares, Inc. (FMBH) 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 FMBH?
On 3 years of weekly data the FCF/FMBH correlation comes out at 0.89, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.87 lands near the 3-year figure. The 5-year figure is 0.82, and annualized covariance runs at 623.1 %².
Within FCF's tracked universe of 64 assets, FMBH comes in at #6 by 3-year correlation. On 12-month performance FMBH holds a 6.6-point edge, +20.3% against +26.9%.
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 FMBH: side by side
| FCF (First Commonwealth Financial Corporation) | FMBH (First Mid Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +20.3% | +26.9% |
| 5-year return | +83.7% | +40.9% |
| Volatility (ann.) | 26.9% | 26.0% |
| Beta vs S&P 500 | 0.72 | 0.76 |
| Max drawdown (3Y) | -26.9% | -27.5% |
| Market cap | $2.1B | $1.3B |
| P/E (trailing) | 12.7 | 12.5 |
| Dividend yield | 2.64% | 1.99% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCF | FMBH |
|---|---|---|
| 2022 | -10.3% | -23.2% |
| 2023 | +14.8% | +11.6% |
| 2024 | +13.4% | +9.1% |
| 2025 | +3.0% | +8.7% |
| 2026 | +26.0% | +31.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCF and FMBH good diversifiers for each other?
No. With a correlation of 0.89, FCF and FMBH move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between FCF and FMBH?
Using weekly returns as of 2026-08-27: 0.89 over 3 years, with 0.87 over the last year and 0.82 over 5 years.
Is FMBH a good diversifier for FCF?
No. With a correlation of 0.89, FCF and FMBH move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.89 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fcf-vs-fmbh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fcf-vs-fmbh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FCF correlations · FMBH correlations
