FCF vs IGIC: Correlation
Measured on weekly returns over the past three years, First Commonwealth Financial Corporation (FCF) and International General Insurance Holdings Ltd. (IGIC) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCF and IGIC?
Over the past 3 years, FCF and IGIC moved with a correlation of 0.48, which is moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.48 over 3. Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 367.4 %².
Among the 64 assets we track against FCF, IGIC ranks #59 by 3-year correlation. Their 12-month results are close: +20.3% for FCF against +15.8% for IGIC.
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 IGIC: side by side
| FCF (First Commonwealth Financial Corporation) | IGIC (International General Insurance Holdings Ltd.) | |
|---|---|---|
| 1-year return | +20.3% | +15.8% |
| 5-year return | +83.7% | +246.3% |
| Volatility (ann.) | 26.9% | 28.5% |
| Beta vs S&P 500 | 0.72 | 0.53 |
| Max drawdown (3Y) | -26.9% | -18.2% |
| Market cap | $2.1B | $1.1B |
| P/E (trailing) | 12.7 | 10.7 |
| Dividend yield | 2.64% | 1.31% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCF | IGIC |
|---|---|---|
| 2022 | -10.3% | +1.6% |
| 2023 | +14.8% | +61.7% |
| 2024 | +13.4% | +92.4% |
| 2025 | +3.0% | +13.8% |
| 2026 | +26.0% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCF and IGIC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FCF and IGIC?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.44 over the last year and 0.33 over 5 years.
Is IGIC a good diversifier for FCF?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 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 · IGIC correlations
