FNB vs IIIN: Correlation
F.N.B. Corporation (FNB) and Insteel Industries, Inc. (IIIN) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNB and IIIN?
Over the past 3 years, FNB and IIIN moved with a correlation of 0.57, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.39 versus 0.57 over 3 years. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 613.6 %².
Within FNB's tracked universe of 53 assets, IIIN comes in at #45 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FNB outperformed by 31.6 percentage points (+13.4% for FNB against -18.2% for IIIN).
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.
FNB vs IIIN: side by side
| FNB (F.N.B. Corporation) | IIIN (Insteel Industries, Inc.) | |
|---|---|---|
| 1-year return | +13.4% | -18.2% |
| 5-year return | +91.1% | +6.5% |
| Volatility (ann.) | 27.4% | 39.5% |
| Beta vs S&P 500 | 1.03 | 0.99 |
| Max drawdown (3Y) | -32.6% | -37.0% |
| Market cap | $6.6B | $0.6B |
| P/E (trailing) | 11.0 | 16.3 |
| Dividend yield | 2.65% | 0.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNB | IIIN |
|---|---|---|
| 2022 | +11.7% | -25.6% |
| 2023 | +9.8% | +50.0% |
| 2024 | +11.0% | -26.8% |
| 2025 | +19.4% | +21.5% |
| 2026 | +9.7% | -3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNB and IIIN good diversifiers for each other?
To a limited degree. At 0.57 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 FNB and IIIN?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.39 over the last year and 0.47 over 5 years.
Is IIIN a good diversifier for FNB?
To a limited degree. At 0.57 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 0.57 mean?
On the −1 to +1 scale, 0.57 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/fnb-vs-iiin.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fnb-vs-iiin/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNB correlations · IIIN correlations
