CFG vs IVZ: Correlation
How closely do Citizens Financial Group (CFG) and Invesco (IVZ) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CFG and IVZ?
On 3 years of weekly data the CFG/IVZ correlation comes out at 0.62, strong. The past 12 months show a weaker link (0.21) than the 3-year average (0.62). The 5-year figure is 0.59, and annualized covariance runs at 630.2 %².
Among the 46 assets we track against CFG, IVZ ranks #30 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IVZ outperformed by 16.6 percentage points (+39.3% for CFG against +55.9% for IVZ). This link changes with the market regime, having swung between 0.19 and 0.79 on a rolling one-year basis.
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.
CFG vs IVZ: side by side
| CFG (Citizens Financial Group) | IVZ (Invesco) | |
|---|---|---|
| 1-year return | +39.3% | +55.9% |
| 5-year return | +98.3% | +63.7% |
| Volatility (ann.) | 31.0% | 32.6% |
| Beta vs S&P 500 | 1.16 | 1.29 |
| Max drawdown (3Y) | -29.1% | -36.5% |
| Market cap | $29.6B | $14.7B |
| P/E (trailing) | 15.4 | – |
| Dividend yield | 2.55% | 2.58% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | CFG | IVZ |
|---|---|---|
| 2022 | -13.4% | -18.7% |
| 2023 | -11.0% | +4.2% |
| 2024 | +38.0% | +3.0% |
| 2025 | +38.6% | +56.9% |
| 2026 | +22.7% | +29.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFG and IVZ good diversifiers for each other?
To a limited degree. At 0.62 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 CFG and IVZ?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.21 over the last year and 0.59 over 5 years.
Is IVZ a good diversifier for CFG?
To a limited degree. At 0.62 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 0.62 mean?
A reading of 0.62 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/cfg-vs-ivz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cfg-vs-ivz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CFG correlations · IVZ correlations
