KEY vs MS: Correlation
KeyCorp (KEY) and Morgan Stanley (MS) show a strong relationship: their 3-year correlation of weekly returns is 0.74.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KEY and MS?
Over the past 3 years, KEY and MS moved with a correlation of 0.74, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.49 versus 0.74 over 3 years. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 671.0 %².
By 3-year correlation, MS places #26 of the 59 assets tracked against KEY. Correlation aside, the last 12 months split them widely, with MS ahead by 28.7 points (+18.4% versus +47.1%). On a rolling one-year basis the correlation drifted between 0.49 and 0.87, a moderate band.
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 MS: side by side
| KEY (KeyCorp) | MS (Morgan Stanley) | |
|---|---|---|
| 1-year return | +18.4% | +47.1% |
| 5-year return | +38.0% | +142.0% |
| Volatility (ann.) | 32.1% | 28.3% |
| Beta vs S&P 500 | 1.25 | 1.43 |
| Max drawdown (3Y) | -32.2% | -29.2% |
| Market cap | $23.5B | $337.5B |
| P/E (trailing) | 13.0 | 17.4 |
| Dividend yield | 3.71% | 1.94% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | KEY | MS |
|---|---|---|
| 2022 | -21.7% | -10.3% |
| 2023 | -11.5% | +13.9% |
| 2024 | +25.3% | +39.7% |
| 2025 | +26.2% | +45.2% |
| 2026 | +8.8% | +23.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KEY and MS good diversifiers for each other?
Only partially. A correlation of 0.74 means KEY and MS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between KEY and MS?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.49 over the last year and 0.69 over 5 years.
Is MS a good diversifier for KEY?
Only partially. A correlation of 0.74 means KEY and MS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/key-vs-ms.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/key-vs-ms/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KEY correlations · MS correlations
