PEBO vs THFF: Correlation
How closely do Peoples Bancorp Inc. (PEBO) and First Financial Corporation (THFF) trade together? Their weekly returns over three years give a correlation of 0.89, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PEBO and THFF?
Over the past 3 years, PEBO and THFF moved with a correlation of 0.89, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.91 over 1 year against 0.89 over 3. Over 5 years the correlation is 0.82, and the annualized covariance of weekly returns is 628.8 %².
THFF is one of the assets that tracks PEBO most closely: it ranks #2 out of the 26 assets we track against PEBO. The trailing year gives THFF the advantage: +33.6% versus +38.8%, a 5.2-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.
PEBO vs THFF: side by side
| PEBO (Peoples Bancorp Inc.) | THFF (First Financial Corporation) | |
|---|---|---|
| 1-year return | +33.6% | +38.8% |
| 5-year return | +66.3% | +135.2% |
| Volatility (ann.) | 25.1% | 28.2% |
| Beta vs S&P 500 | 0.69 | 0.81 |
| Max drawdown (3Y) | -24.5% | -20.2% |
| Market cap | $1.4B | $0.9B |
| P/E (trailing) | 12.0 | 11.1 |
| Dividend yield | 4.18% | 2.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PEBO | THFF |
|---|---|---|
| 2022 | -6.6% | +4.4% |
| 2023 | +26.5% | -2.6% |
| 2024 | -1.0% | +11.1% |
| 2025 | +0.1% | +36.2% |
| 2026 | +36.7% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PEBO and THFF good diversifiers for each other?
No: a correlation of 0.89 means PEBO and THFF tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between PEBO and THFF?
Using weekly returns as of 2026-08-27: 0.89 over 3 years, with 0.91 over the last year and 0.82 over 5 years.
Is THFF a good diversifier for PEBO?
No: a correlation of 0.89 means PEBO and THFF tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.89 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: PEBO correlations · THFF correlations
