BNY vs RJF: Correlation
How closely do BNY Mellon (BNY) and Raymond James Financial (RJF) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNY and RJF?
Across a 3-year window, the weekly returns of BNY and RJF correlate at 0.68, strong. Recent behaviour matches the longer record: 0.60 over 1 year against 0.68 over 3. Stretching to 5 years gives 0.70, with an annualized covariance of 343.0 %².
By 3-year correlation, RJF places #16 of the 31 assets tracked against BNY. Correlation aside, the last 12 months split them widely, with BNY ahead by 50.9 points (+57.2% versus +6.3%). On a rolling one-year basis the correlation drifted between 0.57 and 0.82, a moderate band.
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.
BNY vs RJF: side by side
| BNY (BNY Mellon) | RJF (Raymond James Financial) | |
|---|---|---|
| 1-year return | +57.2% | +6.3% |
| 5-year return | +236.7% | +102.1% |
| Volatility (ann.) | 20.2% | 24.8% |
| Beta vs S&P 500 | 0.89 | 1.03 |
| Max drawdown (3Y) | -17.6% | -28.1% |
| Market cap | $110.1B | $33.8B |
| P/E (trailing) | 19.0 | 15.4 |
| Dividend yield | 1.30% | 1.20% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | BNY | RJF |
|---|---|---|
| 2022 | -19.1% | +8.3% |
| 2023 | +18.5% | +6.1% |
| 2024 | +51.9% | +40.8% |
| 2025 | +54.4% | +4.7% |
| 2026 | +41.5% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNY and RJF good diversifiers for each other?
To a limited degree. At 0.68 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BNY and RJF?
As of 2026-08-27, the correlation of weekly returns between BNY and RJF is 0.68 over 3 years, 0.60 over 1 year and 0.70 over 5 years.
Is RJF a good diversifier for BNY?
To a limited degree. At 0.68 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.68 mean?
A reading of 0.68 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/bny-vs-rjf.json
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[](https://www.pairbook.io/pair/bny-vs-rjf/)
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Related comparisons
Hubs: BNY correlations · RJF correlations
