CFG vs NTRS: Correlation
How closely do Citizens Financial Group (CFG) and Northern Trust (NTRS) 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 CFG and NTRS?
Across a 3-year window, the weekly returns of CFG and NTRS correlate at 0.74, strong. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Stretching to 5 years gives 0.72, with an annualized covariance of 543.3 %².
By 3-year correlation, NTRS places #23 of the 46 assets tracked against CFG. On 12-month performance NTRS holds a 5.5-point edge, +39.3% against +44.8%. The rolling one-year correlation moved between 0.58 and 0.85 over the past three years, a moderate range.
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 NTRS: side by side
| CFG (Citizens Financial Group) | NTRS (Northern Trust) | |
|---|---|---|
| 1-year return | +39.3% | +44.8% |
| 5-year return | +98.3% | +83.2% |
| Volatility (ann.) | 31.0% | 23.7% |
| Beta vs S&P 500 | 1.16 | 1.08 |
| Max drawdown (3Y) | -29.1% | -25.2% |
| Market cap | $29.6B | $34.1B |
| P/E (trailing) | 15.4 | 16.1 |
| Dividend yield | 2.55% | 1.71% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | CFG | NTRS |
|---|---|---|
| 2022 | -13.4% | -23.8% |
| 2023 | -11.0% | -1.0% |
| 2024 | +38.0% | +25.6% |
| 2025 | +38.6% | +36.9% |
| 2026 | +22.7% | +37.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFG and NTRS good diversifiers for each other?
Only partially. A correlation of 0.74 means CFG and NTRS 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 CFG and NTRS?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.64 over the last year and 0.72 over 5 years.
Is NTRS a good diversifier for CFG?
Only partially. A correlation of 0.74 means CFG and NTRS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 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/cfg-vs-ntrs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cfg-vs-ntrs/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CFG correlations · NTRS correlations
