FITB vs ZION: Correlation
Fifth Third Bancorp (FITB) and Zions Bancorporation N.A. (ZION) show a very strong relationship: their 3-year correlation of weekly returns is 0.89.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FITB and ZION?
Across a 3-year window, the weekly returns of FITB and ZION correlate at 0.89, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.88 lands near the 3-year figure. Stretching to 5 years gives 0.86, with an annualized covariance of 931.1 %².
Within FITB's tracked universe of 45 assets, ZION comes in at #9 by 3-year correlation. Their 12-month results are close: +24.6% for FITB against +20.7% for ZION.
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 ZION: side by side
| FITB (Fifth Third Bancorp) | ZION (Zions Bancorporation N.A.) | |
|---|---|---|
| 1-year return | +24.6% | +20.7% |
| 5-year return | +71.2% | +41.1% |
| Volatility (ann.) | 29.4% | 35.5% |
| Beta vs S&P 500 | 1.03 | 1.29 |
| Max drawdown (3Y) | -29.9% | -32.4% |
| Market cap | $49.7B | $9.9B |
| P/E (trailing) | 18.5 | 8.7 |
| Dividend yield | 2.90% | 2.63% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | FITB | ZION |
|---|---|---|
| 2022 | -21.9% | -20.0% |
| 2023 | +10.4% | -6.3% |
| 2024 | +27.2% | +28.2% |
| 2025 | +14.8% | +11.6% |
| 2026 | +19.1% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FITB and ZION good diversifiers for each other?
No: a correlation of 0.89 means FITB and ZION tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between FITB and ZION?
Using weekly returns as of 2026-08-27: 0.89 over 3 years, with 0.88 over the last year and 0.86 over 5 years.
Is ZION a good diversifier for FITB?
No: a correlation of 0.89 means FITB and ZION tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.89 mean?
A reading of 0.89 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fitb-vs-zion.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fitb-vs-zion/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FITB correlations · ZION correlations
