CFG vs TFC: Correlation
Citizens Financial Group (CFG) and Truist Financial (TFC) show a very strong relationship: their 3-year correlation of weekly returns is 0.90.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CFG and TFC?
Across a 3-year window, the weekly returns of CFG and TFC correlate at 0.90, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.89) sits close to the 3-year figure. Stretching to 5 years gives 0.87, with an annualized covariance of 785.1 %².
Among the 46 assets we track against CFG, TFC ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CFG outperformed by 27.2 percentage points (+39.3% for CFG against +12.1% for TFC). Stability stands out here, with the rolling one-year correlation confined to 0.79 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 TFC: side by side
| CFG (Citizens Financial Group) | TFC (Truist Financial) | |
|---|---|---|
| 1-year return | +39.3% | +12.1% |
| 5-year return | +98.3% | +12.7% |
| Volatility (ann.) | 31.0% | 28.0% |
| Beta vs S&P 500 | 1.16 | 1.07 |
| Max drawdown (3Y) | -29.1% | -26.9% |
| Market cap | $29.6B | $61.4B |
| P/E (trailing) | 15.4 | 11.6 |
| Dividend yield | 2.55% | 4.10% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | CFG | TFC |
|---|---|---|
| 2022 | -13.4% | -23.5% |
| 2023 | -11.0% | -8.6% |
| 2024 | +38.0% | +23.7% |
| 2025 | +38.6% | +19.0% |
| 2026 | +22.7% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFG and TFC good diversifiers for each other?
No: a correlation of 0.90 means CFG and TFC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CFG and TFC?
Using weekly returns as of 2026-08-27: 0.90 over 3 years, with 0.89 over the last year and 0.87 over 5 years.
Is TFC a good diversifier for CFG?
No: a correlation of 0.90 means CFG and TFC tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.90 mean?
On the −1 to +1 scale, 0.90 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-tfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cfg-vs-tfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CFG correlations · TFC correlations
