FRBA vs NHC: Correlation
First Bank (FRBA) and National HealthCare Corporation (NHC) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRBA and NHC?
Over the past 3 years, FRBA and NHC moved with a correlation of 0.53, which is moderate. The past 12 months show a weaker link (0.33) than the 3-year average (0.53). Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 425.0 %².
By 3-year correlation, NHC places #6 of the 14 assets tracked against FRBA. Their recent paths diverged sharply: over the last 12 months NHC outperformed by 93.0 percentage points (+8.9% for FRBA against +101.9% for NHC).
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.
FRBA vs NHC: side by side
| FRBA (First Bank) | NHC (National HealthCare Corporation) | |
|---|---|---|
| 1-year return | +8.9% | +101.9% |
| 5-year return | +47.4% | +243.9% |
| Volatility (ann.) | 26.6% | 29.9% |
| Beta vs S&P 500 | 0.61 | 0.50 |
| Max drawdown (3Y) | -22.0% | -33.4% |
| Market cap | $0.4B | $3.5B |
| P/E (trailing) | 10.4 | 25.0 |
| Dividend yield | 1.67% | 1.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRBA | NHC |
|---|---|---|
| 2022 | -3.6% | -9.4% |
| 2023 | +9.1% | +60.8% |
| 2024 | -2.6% | +19.0% |
| 2025 | +18.8% | +30.3% |
| 2026 | +10.2% | +63.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRBA and NHC good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FRBA and NHC?
The FRBA/NHC correlation stands at 0.53 on a 3-year window (1 year: 0.33, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is NHC a good diversifier for FRBA?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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/frba-vs-nhc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frba-vs-nhc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FRBA correlations · NHC correlations
