FHN vs RJF: Correlation
First Horizon Corporation (FHN) and Raymond James Financial (RJF) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FHN and RJF?
Over the past 3 years, FHN and RJF moved with a correlation of 0.64, which is strong. The past 12 months show a weaker link (0.38) than the 3-year average (0.64). Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 487.1 %².
Among the 17 assets we track against FHN, RJF ranks #8 by 3-year correlation. Twelve-month performance is nearly a tie, at +9.9% for FHN and +6.3% for RJF.
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 RJF: side by side
| FHN (First Horizon Corporation) | RJF (Raymond James Financial) | |
|---|---|---|
| 1-year return | +9.9% | +6.3% |
| 5-year return | +77.9% | +102.1% |
| Volatility (ann.) | 30.5% | 24.8% |
| Beta vs S&P 500 | 1.08 | 1.03 |
| Max drawdown (3Y) | -27.1% | -28.1% |
| Market cap | $11.6B | $33.8B |
| P/E (trailing) | 11.8 | 15.4 |
| Dividend yield | 2.60% | 1.20% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | FHN | RJF |
|---|---|---|
| 2022 | +53.9% | +8.3% |
| 2023 | -39.4% | +6.1% |
| 2024 | +47.7% | +40.8% |
| 2025 | +22.1% | +4.7% |
| 2026 | +3.7% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FHN and RJF good diversifiers for each other?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FHN and RJF?
The FHN/RJF correlation stands at 0.64 on a 3-year window (1 year: 0.38, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is RJF a good diversifier for FHN?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.64 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-rjf.json
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Related comparisons
Hubs: FHN correlations · RJF correlations
