FULT vs PNFP: Correlation
Fulton Financial Corporation (FULT) and Pinnacle Financial Partners, Inc. (PNFP) show a very strong relationship: their 3-year correlation of weekly returns is 0.84.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FULT and PNFP?
On 3 years of weekly data the FULT/PNFP correlation comes out at 0.84, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.82) sits close to the 3-year figure. The 5-year figure is 0.82, and annualized covariance runs at 902.9 %².
Within FULT's tracked universe of 45 assets, PNFP comes in at #28 by 3-year correlation. The last year tells two different stories: FULT led by 17.7 percentage points, +24.1% for FULT against +6.4% for PNFP.
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.
FULT vs PNFP: side by side
| FULT (Fulton Financial Corporation) | PNFP (Pinnacle Financial Partners, Inc.) | |
|---|---|---|
| 1-year return | +24.1% | +6.4% |
| 5-year return | +85.0% | +12.0% |
| Volatility (ann.) | 30.3% | 35.3% |
| Beta vs S&P 500 | 1.03 | 1.22 |
| Max drawdown (3Y) | -29.9% | -35.8% |
| Market cap | $4.5B | $15.3B |
| P/E (trailing) | 11.4 | 13.9 |
| Dividend yield | 3.15% | 1.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FULT | PNFP |
|---|---|---|
| 2022 | +3.1% | -22.3% |
| 2023 | +2.5% | +20.5% |
| 2024 | +21.9% | +32.4% |
| 2025 | +4.3% | -15.8% |
| 2026 | +25.0% | +7.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FULT and PNFP good diversifiers for each other?
No. With a correlation of 0.84, FULT and PNFP move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between FULT and PNFP?
The FULT/PNFP correlation stands at 0.84 on a 3-year window (1 year: 0.82, 5 years: 0.82), computed from weekly returns as of 2026-08-27.
Is PNFP a good diversifier for FULT?
No. With a correlation of 0.84, FULT and PNFP move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.84 mean?
A reading of 0.84 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FULT correlations · PNFP correlations
