LUV vs PNFP: Correlation
Southwest Airlines (LUV) and Pinnacle Financial Partners, Inc. (PNFP) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LUV and PNFP?
Over the past 3 years, LUV and PNFP moved with a correlation of 0.54, which is moderate. Recent behaviour matches the longer record: 0.55 over 1 year against 0.54 over 3. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 771.6 %².
Within LUV's tracked universe of 32 assets, PNFP comes in at #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months LUV outperformed by 15.6 percentage points (+22.0% for LUV against +6.4% for PNFP).
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.
LUV vs PNFP: side by side
| LUV (Southwest Airlines) | PNFP (Pinnacle Financial Partners, Inc.) | |
|---|---|---|
| 1-year return | +22.0% | +6.4% |
| 5-year return | -12.3% | +12.0% |
| Volatility (ann.) | 40.5% | 35.3% |
| Beta vs S&P 500 | 1.11 | 1.22 |
| Max drawdown (3Y) | -33.5% | -35.8% |
| Market cap | $19.5B | $15.3B |
| P/E (trailing) | 25.5 | 13.9 |
| Dividend yield | 1.77% | 1.46% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | LUV | PNFP |
|---|---|---|
| 2022 | -21.4% | -22.3% |
| 2023 | -11.8% | +20.5% |
| 2024 | +19.1% | +32.4% |
| 2025 | +25.6% | -15.8% |
| 2026 | -3.0% | +7.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LUV and PNFP good diversifiers for each other?
Only partially. A correlation of 0.54 means LUV and PNFP 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 LUV and PNFP?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.55 over the last year and 0.49 over 5 years.
Is PNFP a good diversifier for LUV?
Only partially. A correlation of 0.54 means LUV and PNFP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 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/luv-vs-pnfp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/luv-vs-pnfp/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LUV correlations · PNFP correlations
