FCF vs NBTB: Correlation
First Commonwealth Financial Corporation (FCF) and NBT Bancorp Inc. (NBTB) show a very strong relationship: their 3-year correlation of weekly returns is 0.88.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCF and NBTB?
On 3 years of weekly data the FCF/NBTB correlation comes out at 0.88, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.82 over 1 year against 0.88 over 3. The 5-year figure is 0.81, and annualized covariance runs at 644.6 %².
Among the 64 assets we track against FCF, NBTB ranks #15 by 3-year correlation. Twelve-month performance is nearly a tie, at +20.3% for FCF and +18.1% for NBTB.
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 NBTB: side by side
| FCF (First Commonwealth Financial Corporation) | NBTB (NBT Bancorp Inc.) | |
|---|---|---|
| 1-year return | +20.3% | +18.1% |
| 5-year return | +83.7% | +68.0% |
| Volatility (ann.) | 26.9% | 27.2% |
| Beta vs S&P 500 | 0.72 | 0.75 |
| Max drawdown (3Y) | -26.9% | -25.7% |
| Market cap | $2.1B | $2.7B |
| P/E (trailing) | 12.7 | 12.5 |
| Dividend yield | 2.64% | 2.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCF | NBTB |
|---|---|---|
| 2022 | -10.3% | +16.0% |
| 2023 | +14.8% | -0.1% |
| 2024 | +13.4% | +17.7% |
| 2025 | +3.0% | -10.2% |
| 2026 | +26.0% | +26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCF and NBTB good diversifiers for each other?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FCF and NBTB?
The FCF/NBTB correlation stands at 0.88 on a 3-year window (1 year: 0.82, 5 years: 0.81), computed from weekly returns as of 2026-08-27.
Is NBTB a good diversifier for FCF?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.88 mean?
A reading of 0.88 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-nbtb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fcf-vs-nbtb/)
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Related comparisons
Hubs: FCF correlations · NBTB correlations
