KEY vs PNC: Correlation
KeyCorp (KEY) and PNC Financial Services (PNC) show a very strong relationship: their 3-year correlation of weekly returns is 0.89.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KEY and PNC?
Across a 3-year window, the weekly returns of KEY and PNC correlate at 0.89, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.91 over 1 year against 0.89 over 3. Stretching to 5 years gives 0.85, with an annualized covariance of 730.8 %².
Within KEY's tracked universe of 59 assets, PNC comes in at #4 by 3-year correlation. Neither side won the trailing year by much: +18.4% against +22.1%. The rolling one-year correlation stayed in a tight band between 0.81 and 0.94 over the past three years, which points to a structural rather than episodic relationship.
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 PNC: side by side
| KEY (KeyCorp) | PNC (PNC Financial Services) | |
|---|---|---|
| 1-year return | +18.4% | +22.1% |
| 5-year return | +38.0% | +53.5% |
| Volatility (ann.) | 32.1% | 25.6% |
| Beta vs S&P 500 | 1.25 | 0.92 |
| Max drawdown (3Y) | -32.2% | -29.8% |
| Market cap | $23.5B | $97.1B |
| P/E (trailing) | 13.0 | 13.5 |
| Dividend yield | 3.71% | 2.78% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | KEY | PNC |
|---|---|---|
| 2022 | -21.7% | -18.6% |
| 2023 | -11.5% | +2.7% |
| 2024 | +25.3% | +29.4% |
| 2025 | +26.2% | +12.2% |
| 2026 | +8.8% | +19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KEY and PNC 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 KEY and PNC?
As of 2026-08-27, the correlation of weekly returns between KEY and PNC is 0.89 over 3 years, 0.91 over 1 year and 0.85 over 5 years.
Is PNC a good diversifier for KEY?
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/key-vs-pnc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/key-vs-pnc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KEY correlations · PNC correlations
