BAC vs PNC: Correlation
Bank of America (BAC) and PNC Financial Services (PNC) show a very strong relationship: their 3-year correlation of weekly returns is 0.81.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAC and PNC?
Over the past 3 years, BAC and PNC moved with a correlation of 0.81, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.74 over 1 year against 0.81 over 3. Over 5 years the correlation is 0.82, and the annualized covariance of weekly returns is 546.8 %².
Within BAC's tracked universe of 45 assets, PNC comes in at #10 by 3-year correlation. Twelve-month performance is nearly a tie, at +24.1% for BAC and +22.1% for PNC. Stability stands out here, with the rolling one-year correlation confined to 0.74 through 0.87.
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.
BAC vs PNC: side by side
| BAC (Bank of America) | PNC (PNC Financial Services) | |
|---|---|---|
| 1-year return | +24.1% | +22.1% |
| 5-year return | +66.0% | +53.5% |
| Volatility (ann.) | 26.5% | 25.6% |
| Beta vs S&P 500 | 1.11 | 0.92 |
| Max drawdown (3Y) | -27.5% | -29.8% |
| Market cap | $427.7B | $97.1B |
| P/E (trailing) | 14.1 | 13.5 |
| Dividend yield | 1.80% | 2.78% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | BAC | PNC |
|---|---|---|
| 2022 | -23.8% | -18.6% |
| 2023 | +4.8% | +2.7% |
| 2024 | +33.9% | +29.4% |
| 2025 | +28.0% | +12.2% |
| 2026 | +12.4% | +19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAC and PNC good diversifiers for each other?
No. With a correlation of 0.81, BAC and PNC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between BAC and PNC?
The BAC/PNC correlation stands at 0.81 on a 3-year window (1 year: 0.74, 5 years: 0.82), computed from weekly returns as of 2026-08-27.
Is PNC a good diversifier for BAC?
No. With a correlation of 0.81, BAC and PNC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.81 mean?
A reading of 0.81 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/bac-vs-pnc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bac-vs-pnc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BAC correlations · PNC correlations
