FCF vs IBOC: Correlation
Measured on weekly returns over the past three years, First Commonwealth Financial Corporation (FCF) and International Bancshares Corporation (IBOC) carry a correlation of 0.86, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCF and IBOC?
Across a 3-year window, the weekly returns of FCF and IBOC correlate at 0.86, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.79 over 1 year against 0.86 over 3. Stretching to 5 years gives 0.83, with an annualized covariance of 624.1 %².
By 3-year correlation, IBOC places #26 of the 64 assets tracked against FCF. Correlation aside, the last 12 months split them widely, with FCF ahead by 21.2 points (+20.3% versus -0.9%).
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 IBOC: side by side
| FCF (First Commonwealth Financial Corporation) | IBOC (International Bancshares Corporation) | |
|---|---|---|
| 1-year return | +20.3% | -0.9% |
| 5-year return | +83.7% | +91.3% |
| Volatility (ann.) | 26.9% | 26.9% |
| Beta vs S&P 500 | 0.72 | 0.77 |
| Max drawdown (3Y) | -26.9% | -24.1% |
| Market cap | $2.1B | $4.4B |
| P/E (trailing) | 12.7 | 10.7 |
| Dividend yield | 2.64% | 2.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCF | IBOC |
|---|---|---|
| 2022 | -10.3% | +10.9% |
| 2023 | +14.8% | +22.0% |
| 2024 | +13.4% | +19.1% |
| 2025 | +3.0% | +7.4% |
| 2026 | +26.0% | +8.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCF and IBOC good diversifiers for each other?
No: a correlation of 0.86 means FCF and IBOC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between FCF and IBOC?
Using weekly returns as of 2026-08-27: 0.86 over 3 years, with 0.79 over the last year and 0.83 over 5 years.
Is IBOC a good diversifier for FCF?
No: a correlation of 0.86 means FCF and IBOC tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.86 mean?
A reading of 0.86 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-iboc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fcf-vs-iboc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FCF correlations · IBOC correlations
