KEY vs RFAI: Correlation
How closely do KeyCorp (KEY) and RF Acquisition Corp II (RFAI) trade together? Their weekly returns over three years give a correlation of -0.15, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KEY and RFAI?
Across a 3-year window, the weekly returns of KEY and RFAI correlate at -0.15, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.28) runs below the 3-year figure (-0.15). Stretching to 5 years gives n/a, with an annualized covariance of -1339.1 %².
Among the 59 assets we track against KEY, RFAI sits near the bottom by co-movement, at rank #55. Correlation aside, the last 12 months split them widely, with RFAI ahead by 371.1 points (+18.4% versus +389.5%). Risk is not evenly split, since RFAI carries 9.0 times the volatility of the other side.
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 RFAI: side by side
| KEY (KeyCorp) | RFAI (RF Acquisition Corp II) | |
|---|---|---|
| 1-year return | +18.4% | +389.5% |
| 5-year return | +38.0% | n/a |
| Volatility (ann.) | 32.1% | 288.3% |
| Beta vs S&P 500 | 1.25 | -1.62 |
| Max drawdown (3Y) | -32.2% | -16.5% |
| Market cap | $23.5B | $0.4B |
| P/E (trailing) | 13.0 | 399.9 |
| Dividend yield | 3.71% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | KEY | RFAI |
|---|---|---|
| 2022 | -21.7% | – |
| 2023 | -11.5% | – |
| 2024 | +25.3% | – |
| 2025 | +26.2% | +5.2% |
| 2026 | +8.8% | +383.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KEY and RFAI good diversifiers for each other?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between KEY and RFAI?
As of 2026-08-27, the correlation of weekly returns between KEY and RFAI is -0.15 over 3 years, -0.28 over 1 year and n/a over 5 years.
Is RFAI a good diversifier for KEY?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.15 mean?
A reading of -0.15 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: KEY correlations · RFAI correlations
