FHN vs KEY: Correlation
How closely do First Horizon Corporation (FHN) and KeyCorp (KEY) trade together? Their weekly returns over three years give a correlation of 0.85, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FHN and KEY?
Across a 3-year window, the weekly returns of FHN and KEY correlate at 0.85, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 834.2 %².
Few assets follow FHN as closely as KEY, which ranks #3 of 17 tracked partners. Over the last 12 months KEY came out ahead by 8.5 percentage points (+9.9% 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.
FHN vs KEY: side by side
| FHN (First Horizon Corporation) | KEY (KeyCorp) | |
|---|---|---|
| 1-year return | +9.9% | +18.4% |
| 5-year return | +77.9% | +38.0% |
| Volatility (ann.) | 30.5% | 32.1% |
| Beta vs S&P 500 | 1.08 | 1.25 |
| Max drawdown (3Y) | -27.1% | -32.2% |
| Market cap | $11.6B | $23.5B |
| P/E (trailing) | 11.8 | 13.0 |
| Dividend yield | 2.60% | 3.71% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | FHN | KEY |
|---|---|---|
| 2022 | +53.9% | -21.7% |
| 2023 | -39.4% | -11.5% |
| 2024 | +47.7% | +25.3% |
| 2025 | +22.1% | +26.2% |
| 2026 | +3.7% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FHN and KEY good diversifiers for each other?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FHN and KEY?
The FHN/KEY correlation stands at 0.85 on a 3-year window (1 year: 0.81, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is KEY a good diversifier for FHN?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.85 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/fhn-vs-key.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fhn-vs-key/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FHN correlations · KEY correlations
