MFC vs MS: Correlation
Measured on weekly returns over the past three years, Manulife Financial Corporation (MFC) and Morgan Stanley (MS) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MFC and MS?
On 3 years of weekly data the MFC/MS correlation comes out at 0.66, strong. The link has loosened recently: the 1-year correlation (0.49) runs below the 3-year figure (0.66). The 5-year figure is 0.65, and annualized covariance runs at 394.2 %².
Within MFC's tracked universe of 12 assets, MS comes in at #4 by 3-year correlation. Their 12-month results are close: +46.3% for MFC against +47.1% for MS.
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.
MFC vs MS: side by side
| MFC (Manulife Financial Corporation) | MS (Morgan Stanley) | |
|---|---|---|
| 1-year return | +46.3% | +47.1% |
| 5-year return | +174.6% | +142.0% |
| Volatility (ann.) | 21.2% | 28.3% |
| Beta vs S&P 500 | 0.87 | 1.43 |
| Max drawdown (3Y) | -16.8% | -29.2% |
| Market cap | $71.7B | $337.5B |
| P/E (trailing) | 16.2 | 17.4 |
| Dividend yield | 4.28% | 1.94% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | MFC | MS |
|---|---|---|
| 2022 | -1.2% | -10.3% |
| 2023 | +31.1% | +13.9% |
| 2024 | +45.2% | +39.7% |
| 2025 | +20.6% | +45.2% |
| 2026 | +22.3% | +23.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MFC and MS good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MFC and MS?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.49 over the last year and 0.65 over 5 years.
Is MS a good diversifier for MFC?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
A reading of 0.66 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mfc-vs-ms.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mfc-vs-ms/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MFC correlations · MS correlations
