FULT vs NBTB: Correlation
How closely do Fulton Financial Corporation (FULT) and NBT Bancorp Inc. (NBTB) trade together? Their weekly returns over three years give a correlation of 0.87, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FULT and NBTB?
On 3 years of weekly data the FULT/NBTB correlation comes out at 0.87, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.83 lands near the 3-year figure. The 5-year figure is 0.80, and annualized covariance runs at 717.3 %².
Among the 45 assets we track against FULT, NBTB ranks #18 by 3-year correlation. The trailing year gives FULT the advantage: +24.1% versus +18.1%, a 6.0-point spread.
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.
FULT vs NBTB: side by side
| FULT (Fulton Financial Corporation) | NBTB (NBT Bancorp Inc.) | |
|---|---|---|
| 1-year return | +24.1% | +18.1% |
| 5-year return | +85.0% | +68.0% |
| Volatility (ann.) | 30.3% | 27.2% |
| Beta vs S&P 500 | 1.03 | 0.75 |
| Max drawdown (3Y) | -29.9% | -25.7% |
| Market cap | $4.5B | $2.7B |
| P/E (trailing) | 11.4 | 12.5 |
| Dividend yield | 3.15% | 2.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FULT | NBTB |
|---|---|---|
| 2022 | +3.1% | +16.0% |
| 2023 | +2.5% | -0.1% |
| 2024 | +21.9% | +17.7% |
| 2025 | +4.3% | -10.2% |
| 2026 | +25.0% | +26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FULT and NBTB good diversifiers for each other?
No: a correlation of 0.87 means FULT and NBTB tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between FULT and NBTB?
The FULT/NBTB correlation stands at 0.87 on a 3-year window (1 year: 0.83, 5 years: 0.80), computed from weekly returns as of 2026-08-27.
Is NBTB a good diversifier for FULT?
No: a correlation of 0.87 means FULT and NBTB tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.87 mean?
On the −1 to +1 scale, 0.87 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
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[](https://www.pairbook.io/pair/fult-vs-nbtb/)
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Related comparisons
Hubs: FULT correlations · NBTB correlations
