FHN vs PFG: Correlation
First Horizon Corporation (FHN) and Principal Financial Group (PFG) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FHN and PFG?
Over the past 3 years, FHN and PFG moved with a correlation of 0.68, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.58 versus 0.68 over 3 years. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 478.8 %².
By 3-year correlation, PFG places #6 of the 17 assets tracked against FHN. Correlation aside, the last 12 months split them widely, with PFG ahead by 34.0 points (+9.9% versus +43.9%).
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 PFG: side by side
| FHN (First Horizon Corporation) | PFG (Principal Financial Group) | |
|---|---|---|
| 1-year return | +9.9% | +43.9% |
| 5-year return | +77.9% | +99.7% |
| Volatility (ann.) | 30.5% | 22.9% |
| Beta vs S&P 500 | 1.08 | 0.88 |
| Max drawdown (3Y) | -27.1% | -22.4% |
| Market cap | $11.6B | $24.0B |
| P/E (trailing) | 11.8 | 16.0 |
| Dividend yield | 2.60% | 2.84% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | FHN | PFG |
|---|---|---|
| 2022 | +53.9% | +20.1% |
| 2023 | -39.4% | -2.8% |
| 2024 | +47.7% | +1.9% |
| 2025 | +22.1% | +18.4% |
| 2026 | +3.7% | +29.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FHN and PFG good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FHN and PFG?
The FHN/PFG correlation stands at 0.68 on a 3-year window (1 year: 0.58, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is PFG a good diversifier for FHN?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 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-pfg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fhn-vs-pfg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FHN correlations · PFG correlations
