CARE vs PFS: Correlation
How closely do Carter Bankshares, Inc. (CARE) and Provident Financial Services, Inc (PFS) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARE and PFS?
On 3 years of weekly data the CARE/PFS correlation comes out at 0.74, strong. The link has loosened recently: the 1-year correlation (0.58) runs below the 3-year figure (0.74). The 5-year figure is 0.65, and annualized covariance runs at 690.2 %².
By 3-year correlation, PFS places #5 of the 14 assets tracked against CARE. Their recent paths diverged sharply: over the last 12 months CARE outperformed by 41.8 percentage points (+65.7% for CARE against +23.9% for PFS).
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.
CARE vs PFS: side by side
| CARE (Carter Bankshares, Inc.) | PFS (Provident Financial Services, Inc) | |
|---|---|---|
| 1-year return | +65.7% | +23.9% |
| 5-year return | +167.6% | +37.5% |
| Volatility (ann.) | 30.7% | 30.4% |
| Beta vs S&P 500 | 0.64 | 0.87 |
| Max drawdown (3Y) | -31.7% | -31.3% |
| Market cap | $0.7B | $3.1B |
| P/E (trailing) | 5.5 | 9.8 |
| Dividend yield | 0.32% | 2.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CARE | PFS |
|---|---|---|
| 2022 | +7.8% | -8.0% |
| 2023 | -9.8% | -10.8% |
| 2024 | +17.5% | +10.7% |
| 2025 | +11.8% | +10.2% |
| 2026 | +64.1% | +23.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARE and PFS good diversifiers for each other?
To a limited degree. At 0.74 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 CARE and PFS?
As of 2026-08-27, the correlation of weekly returns between CARE and PFS is 0.74 over 3 years, 0.58 over 1 year and 0.65 over 5 years.
Is PFS a good diversifier for CARE?
To a limited degree. At 0.74 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 0.74 mean?
A reading of 0.74 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/care-vs-pfs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/care-vs-pfs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CARE correlations · PFS correlations
