HBAN vs PNC: Correlation
Huntington Bancshares (HBAN) and PNC Financial Services (PNC) show a very strong relationship: their 3-year correlation of weekly returns is 0.90.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBAN and PNC?
Over the past 3 years, HBAN and PNC moved with a correlation of 0.90, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.90 lands near the 3-year figure. Over 5 years the correlation is 0.85, and the annualized covariance of weekly returns is 682.4 %².
Few assets follow HBAN as closely as PNC, which ranks #2 of 55 tracked partners. Their recent paths diverged sharply: over the last 12 months PNC outperformed by 23.8 percentage points (-1.7% for HBAN against +22.1% for PNC). The link looks structural: the rolling one-year correlation barely moved, holding between 0.77 and 0.94.
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.
HBAN vs PNC: side by side
| HBAN (Huntington Bancshares) | PNC (PNC Financial Services) | |
|---|---|---|
| 1-year return | -1.7% | +22.1% |
| 5-year return | +36.8% | +53.5% |
| Volatility (ann.) | 29.8% | 25.6% |
| Beta vs S&P 500 | 1.07 | 0.92 |
| Max drawdown (3Y) | -30.0% | -29.8% |
| Market cap | $34.1B | $97.1B |
| P/E (trailing) | 13.1 | 13.5 |
| Dividend yield | 3.64% | 2.78% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | HBAN | PNC |
|---|---|---|
| 2022 | -4.4% | -18.6% |
| 2023 | -4.7% | +2.7% |
| 2024 | +33.7% | +29.4% |
| 2025 | +10.8% | +12.2% |
| 2026 | -0.9% | +19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBAN and PNC good diversifiers for each other?
No. With a correlation of 0.90, HBAN and PNC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between HBAN and PNC?
The HBAN/PNC correlation stands at 0.90 on a 3-year window (1 year: 0.90, 5 years: 0.85), computed from weekly returns as of 2026-08-27.
Is PNC a good diversifier for HBAN?
No. With a correlation of 0.90, HBAN and PNC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.90 mean?
A reading of 0.90 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/hban-vs-pnc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hban-vs-pnc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HBAN correlations · PNC correlations
