FCF vs LKFN: Correlation
Measured on weekly returns over the past three years, First Commonwealth Financial Corporation (FCF) and Lakeland Financial Corporation (LKFN) carry a correlation of 0.84, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCF and LKFN?
Across a 3-year window, the weekly returns of FCF and LKFN correlate at 0.84, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.88 over 1 year against 0.84 over 3. Stretching to 5 years gives 0.76, with an annualized covariance of 678.9 %².
Among the 64 assets we track against FCF, LKFN ranks #35 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FCF ahead by 30.7 points (+20.3% versus -10.4%).
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 LKFN: side by side
| FCF (First Commonwealth Financial Corporation) | LKFN (Lakeland Financial Corporation) | |
|---|---|---|
| 1-year return | +20.3% | -10.4% |
| 5-year return | +83.7% | +4.7% |
| Volatility (ann.) | 26.9% | 29.9% |
| Beta vs S&P 500 | 0.72 | 0.75 |
| Max drawdown (3Y) | -26.9% | -31.7% |
| Market cap | $2.1B | $1.5B |
| P/E (trailing) | 12.7 | 13.6 |
| Dividend yield | 2.64% | 3.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCF | LKFN |
|---|---|---|
| 2022 | -10.3% | -7.0% |
| 2023 | +14.8% | -7.8% |
| 2024 | +13.4% | +8.7% |
| 2025 | +3.0% | -14.3% |
| 2026 | +26.0% | +6.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCF and LKFN good diversifiers for each other?
No: a correlation of 0.84 means FCF and LKFN tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between FCF and LKFN?
As of 2026-08-27, the correlation of weekly returns between FCF and LKFN is 0.84 over 3 years, 0.88 over 1 year and 0.76 over 5 years.
Is LKFN a good diversifier for FCF?
No: a correlation of 0.84 means FCF and LKFN tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.84 mean?
On the −1 to +1 scale, 0.84 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 · LKFN correlations
