FMNB vs TOWN: Correlation
Measured on weekly returns over the past three years, Farmers National Banc Corp. (FMNB) and Towne Bank (TOWN) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMNB and TOWN?
On 3 years of weekly data the FMNB/TOWN correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.81 over 1 year against 0.85 over 3. The 5-year figure is 0.79, and annualized covariance runs at 589.9 %².
Within FMNB's tracked universe of 20 assets, TOWN comes in at #5 by 3-year correlation. Their 12-month results are close: +10.3% for FMNB against +6.7% for TOWN.
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 TOWN: side by side
| FMNB (Farmers National Banc Corp.) | TOWN (Towne Bank) | |
|---|---|---|
| 1-year return | +10.3% | +6.7% |
| 5-year return | +27.6% | +47.6% |
| Volatility (ann.) | 27.7% | 25.0% |
| Beta vs S&P 500 | 0.71 | 0.77 |
| Max drawdown (3Y) | -23.6% | -18.4% |
| Market cap | $0.9B | $3.5B |
| P/E (trailing) | 10.6 | 18.0 |
| Dividend yield | 4.34% | 2.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMNB | TOWN |
|---|---|---|
| 2022 | -20.6% | +0.7% |
| 2023 | +7.8% | +0.3% |
| 2024 | +3.4% | +18.3% |
| 2025 | -1.7% | +1.0% |
| 2026 | +21.3% | +16.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMNB and TOWN good diversifiers for each other?
No. With a correlation of 0.85, FMNB and TOWN move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between FMNB and TOWN?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.81 over the last year and 0.79 over 5 years.
Is TOWN a good diversifier for FMNB?
No. With a correlation of 0.85, FMNB and TOWN move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 mean?
A reading of 0.85 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
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Related comparisons
Hubs: FMNB correlations · TOWN correlations
