FNLC vs NODK: Correlation
First Bancorp, Inc (ME) (FNLC) and NI Holdings, Inc. (NODK) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNLC and NODK?
On 3 years of weekly data the FNLC/NODK correlation comes out at 0.41, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.29 versus 0.41 over 3 years. The 5-year figure is 0.37, and annualized covariance runs at 272.5 %².
Among the 17 assets we track against FNLC, NODK ranks #12 by 3-year correlation. The last year tells two different stories: FNLC led by 18.7 percentage points, +33.4% for FNLC against +14.7% for NODK.
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.
FNLC vs NODK: side by side
| FNLC (First Bancorp, Inc (ME)) | NODK (NI Holdings, Inc.) | |
|---|---|---|
| 1-year return | +33.4% | +14.7% |
| 5-year return | +51.0% | -21.2% |
| Volatility (ann.) | 29.5% | 22.7% |
| Beta vs S&P 500 | 0.46 | 0.27 |
| Max drawdown (3Y) | -25.0% | -28.4% |
| Market cap | $0.4B | $0.3B |
| P/E (trailing) | 10.2 | 40.1 |
| Dividend yield | 4.32% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNLC | NODK |
|---|---|---|
| 2022 | -0.4% | -29.8% |
| 2023 | -0.5% | -2.1% |
| 2024 | +2.5% | +20.9% |
| 2025 | +2.3% | -15.3% |
| 2026 | +35.6% | +14.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNLC and NODK good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FNLC and NODK?
The FNLC/NODK correlation stands at 0.41 on a 3-year window (1 year: 0.29, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is NODK a good diversifier for FNLC?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
A reading of 0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FNLC correlations · NODK correlations
