EWBC vs KEY: Correlation
Measured on weekly returns over the past three years, East West Bancorp, Inc. (EWBC) and KeyCorp (KEY) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EWBC and KEY?
Over the past 3 years, EWBC and KEY moved with a correlation of 0.85, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.86 lands near the 3-year figure. Over 5 years the correlation is 0.85, and the annualized covariance of weekly returns is 827.7 %².
Within EWBC's tracked universe of 13 assets, KEY comes in at #5 by 3-year correlation. Over the last 12 months EWBC came out ahead by 6.6 percentage points (+25.0% against +18.4%).
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.
EWBC vs KEY: side by side
| EWBC (East West Bancorp, Inc.) | KEY (KeyCorp) | |
|---|---|---|
| 1-year return | +25.0% | +18.4% |
| 5-year return | +103.5% | +38.0% |
| Volatility (ann.) | 30.2% | 32.1% |
| Beta vs S&P 500 | 1.03 | 1.25 |
| Max drawdown (3Y) | -35.8% | -32.2% |
| Market cap | $17.8B | $23.5B |
| P/E (trailing) | 12.5 | 13.0 |
| Dividend yield | 2.15% | 3.71% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | EWBC | KEY |
|---|---|---|
| 2022 | -14.4% | -21.7% |
| 2023 | +12.8% | -11.5% |
| 2024 | +36.8% | +25.3% |
| 2025 | +20.3% | +26.2% |
| 2026 | +17.6% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EWBC and KEY good diversifiers for each other?
No: a correlation of 0.85 means EWBC and KEY tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between EWBC and KEY?
The EWBC/KEY correlation stands at 0.85 on a 3-year window (1 year: 0.86, 5 years: 0.85), computed from weekly returns as of 2026-08-27.
Is KEY a good diversifier for EWBC?
No: a correlation of 0.85 means EWBC and KEY tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 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/ewbc-vs-key.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ewbc-vs-key/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EWBC correlations · KEY correlations
