FCF vs NHC: Correlation
First Commonwealth Financial Corporation (FCF) and National HealthCare Corporation (NHC) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCF and NHC?
On 3 years of weekly data the FCF/NHC correlation comes out at 0.54, moderate. The link has loosened recently: the 1-year correlation (0.34) runs below the 3-year figure (0.54). The 5-year figure is 0.43, and annualized covariance runs at 435.4 %².
Within FCF's tracked universe of 64 assets, NHC comes in at #55 by 3-year correlation. The last year tells two different stories: NHC led by 81.6 percentage points, +20.3% for FCF against +101.9% for NHC.
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 NHC: side by side
| FCF (First Commonwealth Financial Corporation) | NHC (National HealthCare Corporation) | |
|---|---|---|
| 1-year return | +20.3% | +101.9% |
| 5-year return | +83.7% | +243.9% |
| Volatility (ann.) | 26.9% | 29.9% |
| Beta vs S&P 500 | 0.72 | 0.50 |
| Max drawdown (3Y) | -26.9% | -33.4% |
| Market cap | $2.1B | $3.5B |
| P/E (trailing) | 12.7 | 25.0 |
| Dividend yield | 2.64% | 1.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCF | NHC |
|---|---|---|
| 2022 | -10.3% | -9.4% |
| 2023 | +14.8% | +60.8% |
| 2024 | +13.4% | +19.0% |
| 2025 | +3.0% | +30.3% |
| 2026 | +26.0% | +63.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCF and NHC good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FCF and NHC?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.34 over the last year and 0.43 over 5 years.
Is NHC a good diversifier for FCF?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
A reading of 0.54 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-nhc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fcf-vs-nhc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FCF correlations · NHC correlations
