MATW vs PFIS: Correlation
Measured on weekly returns over the past three years, Matthews International Corporation (MATW) and Peoples Financial Services Corp. (PFIS) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MATW and PFIS?
Over the past 3 years, MATW and PFIS moved with a correlation of 0.51, which is moderate. The past 12 months show a weaker link (0.40) than the 3-year average (0.51). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 561.2 %².
Within MATW's tracked universe of 12 assets, PFIS comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PFIS ahead by 44.1 points (-8.6% versus +35.5%).
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.
MATW vs PFIS: side by side
| MATW (Matthews International Corporation) | PFIS (Peoples Financial Services Corp.) | |
|---|---|---|
| 1-year return | -8.6% | +35.5% |
| 5-year return | -30.2% | +82.0% |
| Volatility (ann.) | 36.3% | 30.5% |
| Beta vs S&P 500 | 0.87 | 0.66 |
| Max drawdown (3Y) | -54.7% | -29.1% |
| Market cap | $0.7B | $0.7B |
| P/E (trailing) | – | 12.3 |
| Dividend yield | 4.73% | 3.56% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MATW | PFIS |
|---|---|---|
| 2022 | -14.5% | +1.5% |
| 2023 | +23.4% | -2.5% |
| 2024 | -21.9% | +9.9% |
| 2025 | -1.5% | +0.0% |
| 2026 | -17.1% | +45.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MATW and PFIS good diversifiers for each other?
Only partially. A correlation of 0.51 means MATW and PFIS 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 MATW and PFIS?
As of 2026-08-27, the correlation of weekly returns between MATW and PFIS is 0.51 over 3 years, 0.40 over 1 year and 0.44 over 5 years.
Is PFIS a good diversifier for MATW?
Only partially. A correlation of 0.51 means MATW and PFIS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 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/matw-vs-pfis.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/matw-vs-pfis/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MATW correlations · PFIS correlations
