KEY vs RCL: Correlation
How closely do KeyCorp (KEY) and Royal Caribbean Group (RCL) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KEY and RCL?
Over the past 3 years, KEY and RCL moved with a correlation of 0.58, which is moderate. The past 12 months show a weaker link (0.37) than the 3-year average (0.58). Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 775.5 %².
By 3-year correlation, RCL places #42 of the 59 assets tracked against KEY. Their recent paths diverged sharply: over the last 12 months KEY outperformed by 37.7 percentage points (+18.4% for KEY against -19.3% for RCL). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.31 to 0.84.
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 RCL: side by side
| KEY (KeyCorp) | RCL (Royal Caribbean Group) | |
|---|---|---|
| 1-year return | +18.4% | -19.3% |
| 5-year return | +38.0% | +257.6% |
| Volatility (ann.) | 32.1% | 41.3% |
| Beta vs S&P 500 | 1.25 | 1.46 |
| Max drawdown (3Y) | -32.2% | -35.0% |
| Market cap | $23.5B | $76.2B |
| P/E (trailing) | 13.0 | 17.9 |
| Dividend yield | 3.71% | 1.72% |
| Sector / category | Financials | Consumer Discretionary |
Year-by-year returns
| Year | KEY | RCL |
|---|---|---|
| 2022 | -21.7% | -35.7% |
| 2023 | -11.5% | +162.0% |
| 2024 | +25.3% | +79.0% |
| 2025 | +26.2% | +22.5% |
| 2026 | +8.8% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KEY and RCL good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KEY and RCL?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.37 over the last year and 0.47 over 5 years.
Is RCL a good diversifier for KEY?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 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-rcl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/key-vs-rcl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KEY correlations · RCL correlations
