KEY vs RF: Correlation
How closely do KeyCorp (KEY) and Regions Financial Corporation (RF) trade together? Their weekly returns over three years give a correlation of 0.89, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KEY and RF?
On 3 years of weekly data the KEY/RF correlation comes out at 0.89, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.92) sits close to the 3-year figure. The 5-year figure is 0.86, and annualized covariance runs at 835.6 %².
By 3-year correlation, RF places #5 of the 59 assets tracked against KEY. Their 12-month results are close: +18.4% for KEY against +15.4% for RF. The link looks structural: the rolling one-year correlation barely moved, holding between 0.80 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.
KEY vs RF: side by side
| KEY (KeyCorp) | RF (Regions Financial Corporation) | |
|---|---|---|
| 1-year return | +18.4% | +15.4% |
| 5-year return | +38.0% | +83.5% |
| Volatility (ann.) | 32.1% | 29.2% |
| Beta vs S&P 500 | 1.25 | 1.09 |
| Max drawdown (3Y) | -32.2% | -31.9% |
| Market cap | $23.5B | $25.9B |
| P/E (trailing) | 13.0 | 12.4 |
| Dividend yield | 3.71% | 3.45% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | KEY | RF |
|---|---|---|
| 2022 | -21.7% | +2.3% |
| 2023 | -11.5% | -5.7% |
| 2024 | +25.3% | +27.0% |
| 2025 | +26.2% | +20.2% |
| 2026 | +8.8% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KEY and RF good diversifiers for each other?
No. With a correlation of 0.89, KEY and RF move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between KEY and RF?
The KEY/RF correlation stands at 0.89 on a 3-year window (1 year: 0.92, 5 years: 0.86), computed from weekly returns as of 2026-08-27.
Is RF a good diversifier for KEY?
No. With a correlation of 0.89, KEY and RF move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.89 mean?
On the −1 to +1 scale, 0.89 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-rf.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/key-vs-rf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KEY correlations · RF correlations
