FCF vs OCFC: Correlation
How closely do First Commonwealth Financial Corporation (FCF) and OceanFirst Financial Corp. (OCFC) trade together? Their weekly returns over three years give a correlation of 0.85, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCF and OCFC?
Across a 3-year window, the weekly returns of FCF and OCFC correlate at 0.85, very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.70) runs below the 3-year figure (0.85). Stretching to 5 years gives 0.83, with an annualized covariance of 725.9 %².
By 3-year correlation, OCFC places #32 of the 64 assets tracked against FCF. On 12-month performance FCF holds a 13.9-point edge, +20.3% against +6.4%.
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 OCFC: side by side
| FCF (First Commonwealth Financial Corporation) | OCFC (OceanFirst Financial Corp.) | |
|---|---|---|
| 1-year return | +20.3% | +6.4% |
| 5-year return | +83.7% | +10.9% |
| Volatility (ann.) | 26.9% | 31.8% |
| Beta vs S&P 500 | 0.72 | 1.04 |
| Max drawdown (3Y) | -26.9% | -29.8% |
| Market cap | $2.1B | $1.8B |
| P/E (trailing) | 12.7 | 23.6 |
| Dividend yield | 2.64% | 4.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCF | OCFC |
|---|---|---|
| 2022 | -10.3% | -0.9% |
| 2023 | +14.8% | -14.2% |
| 2024 | +13.4% | +9.4% |
| 2025 | +3.0% | +3.9% |
| 2026 | +26.0% | +8.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCF and OCFC good diversifiers for each other?
No. With a correlation of 0.85, FCF and OCFC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between FCF and OCFC?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.70 over the last year and 0.83 over 5 years.
Is OCFC a good diversifier for FCF?
No. With a correlation of 0.85, FCF and OCFC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fcf-vs-ocfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fcf-vs-ocfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FCF correlations · OCFC correlations
