FCF vs WABC: Correlation
How closely do First Commonwealth Financial Corporation (FCF) and Westamerica Bancorporation (WABC) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCF and WABC?
Across a 3-year window, the weekly returns of FCF and WABC correlate at 0.82, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.76 over 1 year against 0.82 over 3. Stretching to 5 years gives 0.76, with an annualized covariance of 536.8 %².
Among the 64 assets we track against FCF, WABC ranks #41 by 3-year correlation. Twelve-month performance is nearly a tie, at +20.3% for FCF and +19.8% for WABC.
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 WABC: side by side
| FCF (First Commonwealth Financial Corporation) | WABC (Westamerica Bancorporation) | |
|---|---|---|
| 1-year return | +20.3% | +19.8% |
| 5-year return | +83.7% | +22.6% |
| Volatility (ann.) | 26.9% | 24.4% |
| Beta vs S&P 500 | 0.72 | 0.61 |
| Max drawdown (3Y) | -26.9% | -24.7% |
| Market cap | $2.1B | $1.3B |
| P/E (trailing) | 12.7 | 12.9 |
| Dividend yield | 2.64% | 3.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCF | WABC |
|---|---|---|
| 2022 | -10.3% | +5.2% |
| 2023 | +14.8% | -0.8% |
| 2024 | +13.4% | -3.6% |
| 2025 | +3.0% | -5.4% |
| 2026 | +26.0% | +24.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCF and WABC good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FCF and WABC?
The FCF/WABC correlation stands at 0.82 on a 3-year window (1 year: 0.76, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is WABC a good diversifier for FCF?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fcf-vs-wabc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fcf-vs-wabc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FCF correlations · WABC correlations
