CFR vs FULT: Correlation
Measured on weekly returns over the past three years, Cullen/Frost Bankers, Inc. (CFR) and Fulton Financial Corporation (FULT) carry a correlation of 0.83, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CFR and FULT?
Across a 3-year window, the weekly returns of CFR and FULT correlate at 0.83, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.81) sits close to the 3-year figure. Stretching to 5 years gives 0.75, with an annualized covariance of 649.1 %².
In CFR's tracked universe of 12 assets, FULT sits right near the top at #2. Neither side won the trailing year by much: +26.1% against +24.1%.
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.
CFR vs FULT: side by side
| CFR (Cullen/Frost Bankers, Inc.) | FULT (Fulton Financial Corporation) | |
|---|---|---|
| 1-year return | +26.1% | +24.1% |
| 5-year return | +64.2% | +85.0% |
| Volatility (ann.) | 25.6% | 30.3% |
| Beta vs S&P 500 | 0.76 | 1.03 |
| Max drawdown (3Y) | -26.5% | -29.9% |
| Market cap | $10.0B | $4.5B |
| P/E (trailing) | 15.4 | 11.4 |
| Dividend yield | 2.47% | 3.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CFR | FULT |
|---|---|---|
| 2022 | +8.7% | +3.1% |
| 2023 | -16.1% | +2.5% |
| 2024 | +27.9% | +21.9% |
| 2025 | -2.8% | +4.3% |
| 2026 | +29.3% | +25.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFR and FULT good diversifiers for each other?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between CFR and FULT?
Using weekly returns as of 2026-08-27: 0.83 over 3 years, with 0.81 over the last year and 0.75 over 5 years.
Is FULT a good diversifier for CFR?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.83 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/cfr-vs-fult.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cfr-vs-fult/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CFR correlations · FULT correlations
