FCF vs FRBA: Correlation
Measured on weekly returns over the past three years, First Commonwealth Financial Corporation (FCF) and First Bank (FRBA) carry a correlation of 0.81, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCF and FRBA?
Over the past 3 years, FCF and FRBA moved with a correlation of 0.81, which is very strong, meaning they move nearly in lockstep. Lately the two have drifted apart, with the 1-year correlation at 0.71 versus 0.81 over 3 years. Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 576.3 %².
By 3-year correlation, FRBA places #45 of the 64 assets tracked against FCF. On 12-month performance FCF holds a 11.4-point edge, +20.3% against +8.9%.
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 FRBA: side by side
| FCF (First Commonwealth Financial Corporation) | FRBA (First Bank) | |
|---|---|---|
| 1-year return | +20.3% | +8.9% |
| 5-year return | +83.7% | +47.4% |
| Volatility (ann.) | 26.9% | 26.6% |
| Beta vs S&P 500 | 0.72 | 0.61 |
| Max drawdown (3Y) | -26.9% | -22.0% |
| Market cap | $2.1B | $0.4B |
| P/E (trailing) | 12.7 | 10.4 |
| Dividend yield | 2.64% | 1.67% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCF | FRBA |
|---|---|---|
| 2022 | -10.3% | -3.6% |
| 2023 | +14.8% | +9.1% |
| 2024 | +13.4% | -2.6% |
| 2025 | +3.0% | +18.8% |
| 2026 | +26.0% | +10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCF and FRBA good diversifiers for each other?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FCF and FRBA?
As of 2026-08-27, the correlation of weekly returns between FCF and FRBA is 0.81 over 3 years, 0.71 over 1 year and 0.73 over 5 years.
Is FRBA a good diversifier for FCF?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.81 mean?
On the −1 to +1 scale, 0.81 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.
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Related comparisons
Hubs: FCF correlations · FRBA correlations
