FNB vs PNFP: Correlation
Measured on weekly returns over the past three years, F.N.B. Corporation (FNB) and Pinnacle Financial Partners, Inc. (PNFP) carry a correlation of 0.84, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNB and PNFP?
On 3 years of weekly data the FNB/PNFP correlation comes out at 0.84, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.80) sits close to the 3-year figure. The 5-year figure is 0.82, and annualized covariance runs at 816.6 %².
Among the 53 assets we track against FNB, PNFP ranks #28 by 3-year correlation. The trailing year gives FNB the advantage: +13.4% versus +6.4%, a 7.0-point spread.
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.
FNB vs PNFP: side by side
| FNB (F.N.B. Corporation) | PNFP (Pinnacle Financial Partners, Inc.) | |
|---|---|---|
| 1-year return | +13.4% | +6.4% |
| 5-year return | +91.1% | +12.0% |
| Volatility (ann.) | 27.4% | 35.3% |
| Beta vs S&P 500 | 1.03 | 1.22 |
| Max drawdown (3Y) | -32.6% | -35.8% |
| Market cap | $6.6B | $15.3B |
| P/E (trailing) | 11.0 | 13.9 |
| Dividend yield | 2.65% | 1.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNB | PNFP |
|---|---|---|
| 2022 | +11.7% | -22.3% |
| 2023 | +9.8% | +20.5% |
| 2024 | +11.0% | +32.4% |
| 2025 | +19.4% | -15.8% |
| 2026 | +9.7% | +7.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNB and PNFP good diversifiers for each other?
No. With a correlation of 0.84, FNB and PNFP move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between FNB and PNFP?
The FNB/PNFP correlation stands at 0.84 on a 3-year window (1 year: 0.80, 5 years: 0.82), computed from weekly returns as of 2026-08-27.
Is PNFP a good diversifier for FNB?
No. With a correlation of 0.84, FNB and PNFP move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.84 mean?
On the −1 to +1 scale, 0.84 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.
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Related comparisons
Hubs: FNB correlations · PNFP correlations
