FITB vs PNC: Correlation
How closely do Fifth Third Bancorp (FITB) and PNC Financial Services (PNC) trade together? Their weekly returns over three years give a correlation of 0.92, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FITB and PNC?
On 3 years of weekly data the FITB/PNC correlation comes out at 0.92, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.91 over 1 year against 0.92 over 3. The 5-year figure is 0.87, and annualized covariance runs at 691.3 %².
Few assets follow FITB as closely as PNC, which ranks #2 of 45 tracked partners. Their 12-month results are close: +24.6% for FITB against +22.1% for PNC. The link looks structural: the rolling one-year correlation barely moved, holding between 0.79 and 0.96.
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.
FITB vs PNC: side by side
| FITB (Fifth Third Bancorp) | PNC (PNC Financial Services) | |
|---|---|---|
| 1-year return | +24.6% | +22.1% |
| 5-year return | +71.2% | +53.5% |
| Volatility (ann.) | 29.4% | 25.6% |
| Beta vs S&P 500 | 1.03 | 0.92 |
| Max drawdown (3Y) | -29.9% | -29.8% |
| Market cap | $49.7B | $97.1B |
| P/E (trailing) | 18.5 | 13.5 |
| Dividend yield | 2.90% | 2.78% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | FITB | PNC |
|---|---|---|
| 2022 | -21.9% | -18.6% |
| 2023 | +10.4% | +2.7% |
| 2024 | +27.2% | +29.4% |
| 2025 | +14.8% | +12.2% |
| 2026 | +19.1% | +19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FITB and PNC good diversifiers for each other?
No: a correlation of 0.92 means FITB and PNC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between FITB and PNC?
As of 2026-08-27, the correlation of weekly returns between FITB and PNC is 0.92 over 3 years, 0.91 over 1 year and 0.87 over 5 years.
Is PNC a good diversifier for FITB?
No: a correlation of 0.92 means FITB and PNC tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.92 mean?
On the −1 to +1 scale, 0.92 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/fitb-vs-pnc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fitb-vs-pnc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FITB correlations · PNC correlations
