BMO vs RY: Correlation
How closely do Bank Of Montreal (BMO) and Royal Bank Of Canada (RY) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMO and RY?
Over the past 3 years, BMO and RY moved with a correlation of 0.66, which is strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 214.9 %².
In BMO's tracked universe of 11 assets, RY sits right near the top at #3. Neither side won the trailing year by much: +46.7% against +42.6%.
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 RY: side by side
| BMO (Bank Of Montreal) | RY (Royal Bank Of Canada) | |
|---|---|---|
| 1-year return | +46.7% | +42.6% |
| 5-year return | +109.4% | +132.0% |
| Volatility (ann.) | 20.3% | 16.1% |
| Beta vs S&P 500 | 0.75 | 0.57 |
| Max drawdown (3Y) | -17.6% | -14.6% |
| Market cap | $120.0B | $283.2B |
| P/E (trailing) | 19.4 | 18.7 |
| Dividend yield | 3.86% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BMO | RY |
|---|---|---|
| 2022 | -12.4% | -8.0% |
| 2023 | +14.6% | +12.2% |
| 2024 | +3.0% | +23.8% |
| 2025 | +38.3% | +45.2% |
| 2026 | +34.6% | +21.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMO and RY good diversifiers for each other?
Only partially. A correlation of 0.66 means BMO and RY 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 RY?
The BMO/RY correlation stands at 0.66 on a 3-year window (1 year: 0.75, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is RY a good diversifier for BMO?
Only partially. A correlation of 0.66 means BMO and RY 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-ry.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bmo-vs-ry/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BMO correlations · RY correlations
