COF vs PNC: Correlation
How closely do Capital One (COF) and PNC Financial Services (PNC) trade together? Their weekly returns over three years give a correlation of 0.73, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COF and PNC?
Across a 3-year window, the weekly returns of COF and PNC correlate at 0.73, strong. The link has loosened recently: the 1-year correlation (0.55) runs below the 3-year figure (0.73). Stretching to 5 years gives 0.74, with an annualized covariance of 574.0 %².
By 3-year correlation, PNC places #11 of the 29 assets tracked against COF. Correlation aside, the last 12 months split them widely, with PNC ahead by 24.1 points (-2.0% versus +22.1%). On a rolling one-year basis the correlation drifted between 0.55 and 0.86, a moderate band.
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.
COF vs PNC: side by side
| COF (Capital One) | PNC (PNC Financial Services) | |
|---|---|---|
| 1-year return | -2.0% | +22.1% |
| 5-year return | +43.2% | +53.5% |
| Volatility (ann.) | 30.6% | 25.6% |
| Beta vs S&P 500 | 1.28 | 0.92 |
| Max drawdown (3Y) | -31.5% | -29.8% |
| Market cap | $132.9B | $97.1B |
| P/E (trailing) | 12.0 | 13.5 |
| Dividend yield | 1.38% | 2.78% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | COF | PNC |
|---|---|---|
| 2022 | -34.6% | -18.6% |
| 2023 | +44.3% | +2.7% |
| 2024 | +38.2% | +29.4% |
| 2025 | +37.6% | +12.2% |
| 2026 | -9.6% | +19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COF and PNC good diversifiers for each other?
Only partially. A correlation of 0.73 means COF and PNC 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 COF and PNC?
As of 2026-08-27, the correlation of weekly returns between COF and PNC is 0.73 over 3 years, 0.55 over 1 year and 0.74 over 5 years.
Is PNC a good diversifier for COF?
Only partially. A correlation of 0.73 means COF and PNC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.73 mean?
On the −1 to +1 scale, 0.73 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/cof-vs-pnc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cof-vs-pnc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COF correlations · PNC correlations
