FCF vs FMNB: Correlation
Measured on weekly returns over the past three years, First Commonwealth Financial Corporation (FCF) and Farmers National Banc Corp. (FMNB) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCF and FMNB?
Over the past 3 years, FCF and FMNB moved with a correlation of 0.85, which is very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.71) runs below the 3-year figure (0.85). Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 636.8 %².
Among the 64 assets we track against FCF, FMNB ranks #31 by 3-year correlation. Over the last 12 months FCF came out ahead by 10.0 percentage points (+20.3% against +10.3%).
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 FMNB: side by side
| FCF (First Commonwealth Financial Corporation) | FMNB (Farmers National Banc Corp.) | |
|---|---|---|
| 1-year return | +20.3% | +10.3% |
| 5-year return | +83.7% | +27.6% |
| Volatility (ann.) | 26.9% | 27.7% |
| Beta vs S&P 500 | 0.72 | 0.71 |
| Max drawdown (3Y) | -26.9% | -23.6% |
| Market cap | $2.1B | $0.9B |
| P/E (trailing) | 12.7 | 10.6 |
| Dividend yield | 2.64% | 4.34% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCF | FMNB |
|---|---|---|
| 2022 | -10.3% | -20.6% |
| 2023 | +14.8% | +7.8% |
| 2024 | +13.4% | +3.4% |
| 2025 | +3.0% | -1.7% |
| 2026 | +26.0% | +21.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCF and FMNB good diversifiers for each other?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FCF and FMNB?
The FCF/FMNB correlation stands at 0.85 on a 3-year window (1 year: 0.71, 5 years: 0.80), computed from weekly returns as of 2026-08-27.
Is FMNB a good diversifier for FCF?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.85 mean?
A reading of 0.85 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 · FMNB correlations
