FSEA vs NNI: Correlation
How closely do First Seacoast Bancorp, Inc. (FSEA) and Nelnet, Inc. (NNI) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSEA and NNI?
Over the past 3 years, FSEA and NNI moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.52 versus -0.26 over 3 years. Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -191.0 %².
Among the 47 assets we track against FSEA, NNI ranks #28 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FSEA outperformed by 49.1 percentage points (+48.9% for FSEA against -0.2% for NNI). Note the risk asymmetry: FSEA runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FSEA vs NNI: side by side
| FSEA (First Seacoast Bancorp, Inc.) | NNI (Nelnet, Inc.) | |
|---|---|---|
| 1-year return | +48.9% | -0.2% |
| 5-year return | +44.2% | +67.8% |
| Volatility (ann.) | 33.2% | 22.0% |
| Beta vs S&P 500 | 0.19 | 0.59 |
| Max drawdown (3Y) | -21.5% | -18.5% |
| Market cap | $0.1B | $4.6B |
| P/E (trailing) | – | 15.3 |
| Dividend yield | 0.00% | 1.01% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSEA | NNI |
|---|---|---|
| 2022 | -10.5% | -6.0% |
| 2023 | -32.7% | -1.6% |
| 2024 | +30.6% | +22.4% |
| 2025 | +31.5% | +25.7% |
| 2026 | +29.7% | -3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSEA and NNI good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between FSEA and NNI?
As of 2026-08-27, the correlation of weekly returns between FSEA and NNI is -0.26 over 3 years, -0.52 over 1 year and -0.15 over 5 years.
Is NNI a good diversifier for FSEA?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
A reading of -0.26 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/fsea-vs-nni.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fsea-vs-nni/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FSEA correlations · NNI correlations
