BMO vs KEY: Correlation
Measured on weekly returns over the past three years, Bank Of Montreal (BMO) and KeyCorp (KEY) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMO and KEY?
Over the past 3 years, BMO and KEY moved with a correlation of 0.66, which is strong. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 429.3 %².
In BMO's tracked universe of 11 assets, KEY sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months BMO outperformed by 28.3 percentage points (+46.7% for BMO against +18.4% for KEY). Risk is not evenly split, since KEY carries 1.6 times the volatility of the other side.
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.
BMO vs KEY: side by side
| BMO (Bank Of Montreal) | KEY (KeyCorp) | |
|---|---|---|
| 1-year return | +46.7% | +18.4% |
| 5-year return | +109.4% | +38.0% |
| Volatility (ann.) | 20.3% | 32.1% |
| Beta vs S&P 500 | 0.75 | 1.25 |
| Max drawdown (3Y) | -17.6% | -32.2% |
| Market cap | $120.0B | $23.5B |
| P/E (trailing) | 19.4 | 13.0 |
| Dividend yield | 3.86% | 3.71% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | BMO | KEY |
|---|---|---|
| 2022 | -12.4% | -21.7% |
| 2023 | +14.6% | -11.5% |
| 2024 | +3.0% | +25.3% |
| 2025 | +38.3% | +26.2% |
| 2026 | +34.6% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMO and KEY good diversifiers for each other?
Only partially. A correlation of 0.66 means BMO and KEY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BMO and KEY?
The BMO/KEY correlation stands at 0.66 on a 3-year window (1 year: 0.64, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is KEY a good diversifier for BMO?
Only partially. A correlation of 0.66 means BMO and KEY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 mean?
A reading of 0.66 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/bmo-vs-key.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bmo-vs-key/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BMO correlations · KEY correlations
