FCNCA vs SSB: Correlation
First Citizens BancShares, Inc. (FCNCA) and SouthState Bank Corporation (SSB) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCNCA and SSB?
Over the past 3 years, FCNCA and SSB moved with a correlation of 0.67, which is strong. Recent behaviour matches the longer record: 0.61 over 1 year against 0.67 over 3. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 572.4 %².
Within FCNCA's tracked universe of 11 assets, SSB comes in at #5 by 3-year correlation. Twelve-month performance is nearly a tie, at +6.7% for FCNCA and +6.8% for SSB.
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.
FCNCA vs SSB: side by side
| FCNCA (First Citizens BancShares, Inc.) | SSB (SouthState Bank Corporation) | |
|---|---|---|
| 1-year return | +6.7% | +6.8% |
| 5-year return | +146.7% | +76.5% |
| Volatility (ann.) | 29.7% | 28.6% |
| Beta vs S&P 500 | 0.95 | 0.95 |
| Max drawdown (3Y) | -33.5% | -27.6% |
| Market cap | $24.4B | $10.3B |
| P/E (trailing) | 11.7 | 11.2 |
| Dividend yield | 0.38% | 2.26% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCNCA | SSB |
|---|---|---|
| 2022 | -8.4% | -2.4% |
| 2023 | +87.7% | +13.8% |
| 2024 | +49.5% | +20.7% |
| 2025 | +2.0% | -3.1% |
| 2026 | +0.9% | +14.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCNCA and SSB good diversifiers for each other?
To a limited degree. At 0.67 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 FCNCA and SSB?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.61 over the last year and 0.41 over 5 years.
Is SSB a good diversifier for FCNCA?
To a limited degree. At 0.67 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 0.67 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.
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Related comparisons
Hubs: FCNCA correlations · SSB correlations
