CFG vs KEY: Correlation
Citizens Financial Group (CFG) and KeyCorp (KEY) show a very strong relationship: their 3-year correlation of weekly returns is 0.91.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CFG and KEY?
Over the past 3 years, CFG and KEY moved with a correlation of 0.91, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.91) sits close to the 3-year figure. Over 5 years the correlation is 0.89, and the annualized covariance of weekly returns is 902.6 %².
KEY is one of the assets that tracks CFG most closely: it ranks #3 out of the 46 assets we track against CFG. Correlation aside, the last 12 months split them widely, with CFG ahead by 20.9 points (+39.3% versus +18.4%). Stability stands out here, with the rolling one-year correlation confined to 0.84 through 0.97.
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 KEY: side by side
| CFG (Citizens Financial Group) | KEY (KeyCorp) | |
|---|---|---|
| 1-year return | +39.3% | +18.4% |
| 5-year return | +98.3% | +38.0% |
| Volatility (ann.) | 31.0% | 32.1% |
| Beta vs S&P 500 | 1.16 | 1.25 |
| Max drawdown (3Y) | -29.1% | -32.2% |
| Market cap | $29.6B | $23.5B |
| P/E (trailing) | 15.4 | 13.0 |
| Dividend yield | 2.55% | 3.71% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | CFG | KEY |
|---|---|---|
| 2022 | -13.4% | -21.7% |
| 2023 | -11.0% | -11.5% |
| 2024 | +38.0% | +25.3% |
| 2025 | +38.6% | +26.2% |
| 2026 | +22.7% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFG and KEY good diversifiers for each other?
No. With a correlation of 0.91, CFG and KEY move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CFG and KEY?
Using weekly returns as of 2026-08-27: 0.91 over 3 years, with 0.91 over the last year and 0.89 over 5 years.
Is KEY a good diversifier for CFG?
No. With a correlation of 0.91, CFG and KEY move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.91 mean?
On the −1 to +1 scale, 0.91 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cfg-vs-key.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cfg-vs-key/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CFG correlations · KEY correlations
