CFG vs PNC: Correlation
Measured on weekly returns over the past three years, Citizens Financial Group (CFG) and PNC Financial Services (PNC) carry a correlation of 0.91, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CFG and PNC?
On 3 years of weekly data the CFG/PNC correlation comes out at 0.91, 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. The 5-year figure is 0.89, and annualized covariance runs at 723.5 %².
Among the 46 assets we track against CFG, PNC ranks #4 by 3-year correlation. The last year tells two different stories: CFG led by 17.2 percentage points, +39.3% for CFG against +22.1% for PNC. Stability stands out here, with the rolling one-year correlation confined to 0.88 through 0.96.
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 PNC: side by side
| CFG (Citizens Financial Group) | PNC (PNC Financial Services) | |
|---|---|---|
| 1-year return | +39.3% | +22.1% |
| 5-year return | +98.3% | +53.5% |
| Volatility (ann.) | 31.0% | 25.6% |
| Beta vs S&P 500 | 1.16 | 0.92 |
| Max drawdown (3Y) | -29.1% | -29.8% |
| Market cap | $29.6B | $97.1B |
| P/E (trailing) | 15.4 | 13.5 |
| Dividend yield | 2.55% | 2.78% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | CFG | PNC |
|---|---|---|
| 2022 | -13.4% | -18.6% |
| 2023 | -11.0% | +2.7% |
| 2024 | +38.0% | +29.4% |
| 2025 | +38.6% | +12.2% |
| 2026 | +22.7% | +19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFG and PNC good diversifiers for each other?
Not really. At 0.91, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between CFG and PNC?
The CFG/PNC correlation stands at 0.91 on a 3-year window (1 year: 0.91, 5 years: 0.89), computed from weekly returns as of 2026-08-27.
Is PNC a good diversifier for CFG?
Not really. At 0.91, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.91 mean?
A reading of 0.91 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-pnc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cfg-vs-pnc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CFG correlations · PNC correlations
