FCF vs HOPE: Correlation
Measured on weekly returns over the past three years, First Commonwealth Financial Corporation (FCF) and Hope Bancorp, Inc. (HOPE) carry a correlation of 0.89, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCF and HOPE?
On 3 years of weekly data the FCF/HOPE correlation comes out at 0.89, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.86 over 1 year against 0.89 over 3. The 5-year figure is 0.85, and annualized covariance runs at 714.0 %².
Among the 64 assets we track against FCF, HOPE ranks #7 by 3-year correlation. The trailing year gives HOPE the advantage: +20.3% versus +30.9%, a 10.6-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 HOPE: side by side
| FCF (First Commonwealth Financial Corporation) | HOPE (Hope Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +20.3% | +30.9% |
| 5-year return | +83.7% | +29.9% |
| Volatility (ann.) | 26.9% | 29.7% |
| Beta vs S&P 500 | 0.72 | 0.91 |
| Max drawdown (3Y) | -26.9% | -35.1% |
| Market cap | $2.1B | $1.8B |
| P/E (trailing) | 12.7 | 13.8 |
| Dividend yield | 2.64% | 4.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCF | HOPE |
|---|---|---|
| 2022 | -10.3% | -9.6% |
| 2023 | +14.8% | -0.1% |
| 2024 | +13.4% | +6.8% |
| 2025 | +3.0% | -5.9% |
| 2026 | +26.0% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCF and HOPE good diversifiers for each other?
No: a correlation of 0.89 means FCF and HOPE tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between FCF and HOPE?
The FCF/HOPE correlation stands at 0.89 on a 3-year window (1 year: 0.86, 5 years: 0.85), computed from weekly returns as of 2026-08-27.
Is HOPE a good diversifier for FCF?
No: a correlation of 0.89 means FCF and HOPE tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.89 mean?
A reading of 0.89 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fcf-vs-hope.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fcf-vs-hope/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FCF correlations · HOPE correlations
