CFG vs RF: Correlation
Measured on weekly returns over the past three years, Citizens Financial Group (CFG) and Regions Financial Corporation (RF) carry a correlation of 0.93, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CFG and RF?
On 3 years of weekly data the CFG/RF correlation comes out at 0.93, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.88) sits close to the 3-year figure. The 5-year figure is 0.89, and annualized covariance runs at 839.7 %².
In CFG's tracked universe of 46 assets, RF sits right near the top at #2. Correlation aside, the last 12 months split them widely, with CFG ahead by 23.9 points (+39.3% versus +15.4%). Stability stands out here, with the rolling one-year correlation confined to 0.80 through 0.95.
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 RF: side by side
| CFG (Citizens Financial Group) | RF (Regions Financial Corporation) | |
|---|---|---|
| 1-year return | +39.3% | +15.4% |
| 5-year return | +98.3% | +83.5% |
| Volatility (ann.) | 31.0% | 29.2% |
| Beta vs S&P 500 | 1.16 | 1.09 |
| Max drawdown (3Y) | -29.1% | -31.9% |
| Market cap | $29.6B | $25.9B |
| P/E (trailing) | 15.4 | 12.4 |
| Dividend yield | 2.55% | 3.45% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | CFG | RF |
|---|---|---|
| 2022 | -13.4% | +2.3% |
| 2023 | -11.0% | -5.7% |
| 2024 | +38.0% | +27.0% |
| 2025 | +38.6% | +20.2% |
| 2026 | +22.7% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFG and RF good diversifiers for each other?
No. With a correlation of 0.93, CFG and RF move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CFG and RF?
The CFG/RF correlation stands at 0.93 on a 3-year window (1 year: 0.88, 5 years: 0.89), computed from weekly returns as of 2026-08-27.
Is RF a good diversifier for CFG?
No. With a correlation of 0.93, CFG and RF move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.93 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cfg-vs-rf.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cfg-vs-rf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CFG correlations · RF correlations
