FGBI vs VLY: Correlation
Measured on weekly returns over the past three years, First Guaranty Bancshares, Inc. (FGBI) and Valley National Bancorp (VLY) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FGBI and VLY?
Over the past 3 years, FGBI and VLY moved with a correlation of 0.36, which is moderate. The relationship has been stable: the 1-year correlation (0.27) sits close to the 3-year figure. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 631.5 %².
Within FGBI's tracked universe of 11 assets, VLY comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VLY outperformed by 35.2 percentage points (+2.7% for FGBI against +37.9% for VLY). Risk is not evenly split, since FGBI carries 1.6 times the volatility of the other side.
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.
FGBI vs VLY: side by side
| FGBI (First Guaranty Bancshares, Inc.) | VLY (Valley National Bancorp) | |
|---|---|---|
| 1-year return | +2.7% | +37.9% |
| 5-year return | -46.6% | +32.9% |
| Volatility (ann.) | 52.8% | 32.8% |
| Beta vs S&P 500 | 0.28 | 0.93 |
| Max drawdown (3Y) | -70.0% | -39.5% |
| Market cap | $0.1B | $7.7B |
| P/E (trailing) | – | 11.9 |
| Dividend yield | 0.49% | 3.12% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FGBI | VLY |
|---|---|---|
| 2022 | +18.2% | -14.6% |
| 2023 | -50.2% | +0.7% |
| 2024 | +6.6% | -11.9% |
| 2025 | -52.5% | +34.8% |
| 2026 | +51.4% | +21.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FGBI and VLY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FGBI and VLY?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.27 over the last year and 0.37 over 5 years.
Is VLY a good diversifier for FGBI?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 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/fgbi-vs-vly.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fgbi-vs-vly/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FGBI correlations · VLY correlations
