FMNB vs NATH: Correlation
Measured on weekly returns over the past three years, Farmers National Banc Corp. (FMNB) and Nathan's Famous, Inc. (NATH) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMNB and NATH?
Over the past 3 years, FMNB and NATH moved with a correlation of 0.44, which is moderate. The past 12 months show a weaker link (0.17) than the 3-year average (0.44). Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 304.9 %².
Within FMNB's tracked universe of 20 assets, NATH comes in at #13 by 3-year correlation. The last year tells two different stories: FMNB led by 15.8 percentage points, +10.3% for FMNB against -5.5% for NATH.
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.
FMNB vs NATH: side by side
| FMNB (Farmers National Banc Corp.) | NATH (Nathan's Famous, Inc.) | |
|---|---|---|
| 1-year return | +10.3% | -5.5% |
| 5-year return | +27.6% | +68.7% |
| Volatility (ann.) | 27.7% | 25.3% |
| Beta vs S&P 500 | 0.71 | 0.50 |
| Max drawdown (3Y) | -23.6% | -19.5% |
| Market cap | $0.9B | $0.4B |
| P/E (trailing) | 10.6 | 20.2 |
| Dividend yield | 4.34% | 2.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMNB | NATH |
|---|---|---|
| 2022 | -20.6% | +18.7% |
| 2023 | +7.8% | +19.2% |
| 2024 | +3.4% | +3.5% |
| 2025 | -1.7% | +24.6% |
| 2026 | +21.3% | +5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMNB and NATH good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FMNB and NATH?
The FMNB/NATH correlation stands at 0.44 on a 3-year window (1 year: 0.17, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is NATH a good diversifier for FMNB?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/fmnb-vs-nath.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fmnb-vs-nath/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FMNB correlations · NATH correlations
