FCF vs SSB: Correlation
How closely do First Commonwealth Financial Corporation (FCF) and SouthState Bank Corporation (SSB) trade together? Their weekly returns over three years give a correlation of 0.87, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCF and SSB?
On 3 years of weekly data the FCF/SSB correlation comes out at 0.87, very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.75) than the 3-year average (0.87). The 5-year figure is 0.82, and annualized covariance runs at 669.4 %².
Within FCF's tracked universe of 64 assets, SSB comes in at #23 by 3-year correlation. The trailing year gives FCF the advantage: +20.3% versus +6.8%, a 13.5-point spread.
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 SSB: side by side
| FCF (First Commonwealth Financial Corporation) | SSB (SouthState Bank Corporation) | |
|---|---|---|
| 1-year return | +20.3% | +6.8% |
| 5-year return | +83.7% | +76.5% |
| Volatility (ann.) | 26.9% | 28.6% |
| Beta vs S&P 500 | 0.72 | 0.95 |
| Max drawdown (3Y) | -26.9% | -27.6% |
| Market cap | $2.1B | $10.3B |
| P/E (trailing) | 12.7 | 11.2 |
| Dividend yield | 2.64% | 2.26% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCF | SSB |
|---|---|---|
| 2022 | -10.3% | -2.4% |
| 2023 | +14.8% | +13.8% |
| 2024 | +13.4% | +20.7% |
| 2025 | +3.0% | -3.1% |
| 2026 | +26.0% | +14.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCF and SSB good diversifiers for each other?
Not really. At 0.87, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FCF and SSB?
The FCF/SSB correlation stands at 0.87 on a 3-year window (1 year: 0.75, 5 years: 0.82), computed from weekly returns as of 2026-08-27.
Is SSB a good diversifier for FCF?
Not really. At 0.87, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.87 mean?
On the −1 to +1 scale, 0.87 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 · SSB correlations
