FCF vs FNLC: Correlation
First Commonwealth Financial Corporation (FCF) and First Bancorp, Inc (ME) (FNLC) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCF and FNLC?
On 3 years of weekly data the FCF/FNLC correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.78 lands near the 3-year figure. The 5-year figure is 0.75, and annualized covariance runs at 638.2 %².
Among the 64 assets we track against FCF, FNLC ranks #47 by 3-year correlation. The trailing year gives FNLC the advantage: +20.3% versus +33.4%, a 13.1-point spread.
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 FNLC: side by side
| FCF (First Commonwealth Financial Corporation) | FNLC (First Bancorp, Inc (ME)) | |
|---|---|---|
| 1-year return | +20.3% | +33.4% |
| 5-year return | +83.7% | +51.0% |
| Volatility (ann.) | 26.9% | 29.5% |
| Beta vs S&P 500 | 0.72 | 0.46 |
| Max drawdown (3Y) | -26.9% | -25.0% |
| Market cap | $2.1B | $0.4B |
| P/E (trailing) | 12.7 | 10.2 |
| Dividend yield | 2.64% | 4.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCF | FNLC |
|---|---|---|
| 2022 | -10.3% | -0.4% |
| 2023 | +14.8% | -0.5% |
| 2024 | +13.4% | +2.5% |
| 2025 | +3.0% | +2.3% |
| 2026 | +26.0% | +35.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCF and FNLC good diversifiers for each other?
No. With a correlation of 0.80, FCF and FNLC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between FCF and FNLC?
Using weekly returns as of 2026-08-27: 0.80 over 3 years, with 0.78 over the last year and 0.75 over 5 years.
Is FNLC a good diversifier for FCF?
No. With a correlation of 0.80, FCF and FNLC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.80 mean?
On the −1 to +1 scale, 0.80 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/fcf-vs-fnlc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fcf-vs-fnlc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FCF correlations · FNLC correlations
