KEY vs LNC: Correlation
Measured on weekly returns over the past three years, KeyCorp (KEY) and Lincoln National Corporation (LNC) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KEY and LNC?
Across a 3-year window, the weekly returns of KEY and LNC correlate at 0.68, strong. The past 12 months show a weaker link (0.48) than the 3-year average (0.68). Stretching to 5 years gives 0.67, with an annualized covariance of 737.9 %².
By 3-year correlation, LNC places #32 of the 59 assets tracked against KEY. The trailing year gives KEY the advantage: +18.4% versus +7.4%, a 11.0-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.
KEY vs LNC: side by side
| KEY (KeyCorp) | LNC (Lincoln National Corporation) | |
|---|---|---|
| 1-year return | +18.4% | +7.4% |
| 5-year return | +38.0% | -18.1% |
| Volatility (ann.) | 32.1% | 33.9% |
| Beta vs S&P 500 | 1.25 | 1.14 |
| Max drawdown (3Y) | -32.2% | -29.1% |
| Market cap | $23.5B | $8.3B |
| P/E (trailing) | 13.0 | 3.7 |
| Dividend yield | 3.71% | 4.16% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | KEY | LNC |
|---|---|---|
| 2022 | -21.7% | -53.5% |
| 2023 | -11.5% | -5.6% |
| 2024 | +25.3% | +24.8% |
| 2025 | +26.2% | +48.0% |
| 2026 | +8.8% | +1.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KEY and LNC good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KEY and LNC?
As of 2026-08-27, the correlation of weekly returns between KEY and LNC is 0.68 over 3 years, 0.48 over 1 year and 0.67 over 5 years.
Is LNC a good diversifier for KEY?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/key-vs-lnc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/key-vs-lnc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KEY correlations · LNC correlations
