SPFI vs THFF: Correlation
South Plains Financial, Inc. (SPFI) and First Financial Corporation (THFF) show a very strong relationship: their 3-year correlation of weekly returns is 0.82.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPFI and THFF?
Across a 3-year window, the weekly returns of SPFI and THFF correlate at 0.82, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.76 over 1 year against 0.82 over 3. Stretching to 5 years gives 0.75, with an annualized covariance of 634.8 %².
Few assets follow SPFI as closely as THFF, which ranks #1 of 14 tracked partners. Their recent paths diverged sharply: over the last 12 months THFF outperformed by 31.1 percentage points (+7.7% for SPFI against +38.8% for THFF).
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.
SPFI vs THFF: side by side
| SPFI (South Plains Financial, Inc.) | THFF (First Financial Corporation) | |
|---|---|---|
| 1-year return | +7.7% | +38.8% |
| 5-year return | +108.3% | +135.2% |
| Volatility (ann.) | 27.6% | 28.2% |
| Beta vs S&P 500 | 0.61 | 0.81 |
| Max drawdown (3Y) | -23.8% | -20.2% |
| Market cap | $0.8B | $0.9B |
| P/E (trailing) | 11.9 | 11.1 |
| Dividend yield | 1.52% | 2.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SPFI | THFF |
|---|---|---|
| 2022 | +0.7% | +4.4% |
| 2023 | +7.4% | -2.6% |
| 2024 | +22.2% | +11.1% |
| 2025 | +13.6% | +36.2% |
| 2026 | +13.8% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPFI and THFF good diversifiers for each other?
No: a correlation of 0.82 means SPFI and THFF tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between SPFI and THFF?
The SPFI/THFF correlation stands at 0.82 on a 3-year window (1 year: 0.76, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is THFF a good diversifier for SPFI?
No: a correlation of 0.82 means SPFI and THFF tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 mean?
On the −1 to +1 scale, 0.82 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/spfi-vs-thff.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spfi-vs-thff/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPFI correlations · THFF correlations
