FNLC vs TRC: Correlation
How closely do First Bancorp, Inc (ME) (FNLC) and Tejon Ranch Co (TRC) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNLC and TRC?
On 3 years of weekly data the FNLC/TRC correlation comes out at 0.53, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.41 versus 0.53 over 3 years. The 5-year figure is 0.49, and annualized covariance runs at 366.6 %².
By 3-year correlation, TRC places #9 of the 17 assets tracked against FNLC. The last year tells two different stories: FNLC led by 40.5 percentage points, +33.4% for FNLC against -7.1% for TRC.
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 TRC: side by side
| FNLC (First Bancorp, Inc (ME)) | TRC (Tejon Ranch Co) | |
|---|---|---|
| 1-year return | +33.4% | -7.1% |
| 5-year return | +51.0% | -15.6% |
| Volatility (ann.) | 29.5% | 23.7% |
| Beta vs S&P 500 | 0.46 | 0.44 |
| Max drawdown (3Y) | -25.0% | -24.3% |
| Market cap | $0.4B | $0.4B |
| P/E (trailing) | 10.2 | 73.4 |
| Dividend yield | 4.32% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNLC | TRC |
|---|---|---|
| 2022 | -0.4% | -1.3% |
| 2023 | -0.5% | -8.7% |
| 2024 | +2.5% | -7.6% |
| 2025 | +2.3% | -0.8% |
| 2026 | +35.6% | +2.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNLC and TRC good diversifiers for each other?
To a limited degree. At 0.53 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 FNLC and TRC?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.41 over the last year and 0.49 over 5 years.
Is TRC a good diversifier for FNLC?
To a limited degree. At 0.53 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 0.53 mean?
A reading of 0.53 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
$ curl https://www.pairbook.io/api/v1/pairs/fnlc-vs-trc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fnlc-vs-trc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNLC correlations · TRC correlations
