FNB vs ZION: Correlation
How closely do F.N.B. Corporation (FNB) and Zions Bancorporation N.A. (ZION) trade together? Their weekly returns over three years give a correlation of 0.89, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNB and ZION?
Across a 3-year window, the weekly returns of FNB and ZION correlate at 0.89, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.90) sits close to the 3-year figure. Stretching to 5 years gives 0.80, with an annualized covariance of 865.7 %².
Within FNB's tracked universe of 53 assets, ZION comes in at #9 by 3-year correlation. On 12-month performance ZION holds a 7.3-point edge, +13.4% against +20.7%.
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 ZION: side by side
| FNB (F.N.B. Corporation) | ZION (Zions Bancorporation N.A.) | |
|---|---|---|
| 1-year return | +13.4% | +20.7% |
| 5-year return | +91.1% | +41.1% |
| Volatility (ann.) | 27.4% | 35.5% |
| Beta vs S&P 500 | 1.03 | 1.29 |
| Max drawdown (3Y) | -32.6% | -32.4% |
| Market cap | $6.6B | $9.9B |
| P/E (trailing) | 11.0 | 8.7 |
| Dividend yield | 2.65% | 2.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNB | ZION |
|---|---|---|
| 2022 | +11.7% | -20.0% |
| 2023 | +9.8% | -6.3% |
| 2024 | +11.0% | +28.2% |
| 2025 | +19.4% | +11.6% |
| 2026 | +9.7% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNB and ZION good diversifiers for each other?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FNB and ZION?
Using weekly returns as of 2026-08-27: 0.89 over 3 years, with 0.90 over the last year and 0.80 over 5 years.
Is ZION a good diversifier for FNB?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
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/fnb-vs-zion.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fnb-vs-zion/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNB correlations · ZION correlations
