AbstractFingerprinting of functional connectomes is an increasingly standard measure of reproducibility in functional magnetic resonance imaging connectomics. In such studies, one attempts to match a subject's first session image with their second, in a blinded fashion, in a group of subjects measured twice. The number or percentage of correct matches is usually reported as a statistic, which is then used in permutation tests. Despite the simplicity and increasing popularity of such procedures, the soundness of the statistical tests, the power, and the factors impacting the test are unstudied. In this article, we investigate the statistical tests of matching based on exchangeability assumption in the fingerprinting analysis. We show that a nearly universal Poisson(1) approximation applies for different matching schemes. We theoretically investigate the permutation tests and explore the issue that the test is overly sensitive to uninteresting directions in the alternative hypothesis, such as clustering due to familial status or demographics. We perform a numerical study on two functional magnetic resonance imaging (fMRI) resting‐state datasets, the Human Connectome Project (HCP) and the Baltimore Longitudinal Study of Aging (BLSA). These datasets are instructive, as the HCP includes technical replications of long scans and includes monozygotic and dizygotic twins, as well as non‐twin siblings. In contrast, the BLSA study incorporates more typical length resting‐state scans in a longitudinal study. Finally, a study of single regional connections is performed on the HCP data.