FMNB vs SGHC: Correlation
How closely do Farmers National Banc Corp. (FMNB) and Super Group (SGHC) Limited (SGHC) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMNB and SGHC?
Over the past 3 years, FMNB and SGHC moved with a correlation of 0.44, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.06 versus 0.44 over 3 years. Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 593.6 %².
By 3-year correlation, SGHC places #14 of the 20 assets tracked against FMNB. Twelve-month performance is nearly a tie, at +10.3% for FMNB and +14.9% for SGHC. One caveat on sizing: SGHC is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SGHC: side by side
| FMNB (Farmers National Banc Corp.) | SGHC (Super Group (SGHC) Limited) | |
|---|---|---|
| 1-year return | +10.3% | +14.9% |
| 5-year return | +27.6% | +49.1% |
| Volatility (ann.) | 27.7% | 49.2% |
| Beta vs S&P 500 | 0.71 | 1.19 |
| Max drawdown (3Y) | -23.6% | -39.5% |
| Market cap | $0.9B | $7.0B |
| P/E (trailing) | 10.6 | 19.2 |
| Dividend yield | 4.34% | 1.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMNB | SGHC |
|---|---|---|
| 2022 | -20.6% | -69.8% |
| 2023 | +7.8% | +5.7% |
| 2024 | +3.4% | +107.7% |
| 2025 | -1.7% | +93.7% |
| 2026 | +21.3% | +16.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMNB and SGHC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FMNB and SGHC?
As of 2026-08-27, the correlation of weekly returns between FMNB and SGHC is 0.44 over 3 years, 0.06 over 1 year and 0.29 over 5 years.
Is SGHC a good diversifier for FMNB?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 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: FMNB correlations · SGHC correlations
