MS vs WFC: Correlation
Measured on weekly returns over the past three years, Morgan Stanley (MS) and Wells Fargo (WFC) carry a correlation of 0.73, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MS and WFC?
Over the past 3 years, MS and WFC moved with a correlation of 0.73, which is strong. The past 12 months show a weaker link (0.57) than the 3-year average (0.73). Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 611.4 %².
Within MS's tracked universe of 46 assets, WFC comes in at #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MS ahead by 41.9 points (+47.1% versus +5.2%). The rolling one-year correlation moved between 0.57 and 0.88 over the past three years, a moderate range.
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.
MS vs WFC: side by side
| MS (Morgan Stanley) | WFC (Wells Fargo) | |
|---|---|---|
| 1-year return | +47.1% | +5.2% |
| 5-year return | +142.0% | +98.3% |
| Volatility (ann.) | 28.3% | 29.7% |
| Beta vs S&P 500 | 1.43 | 0.98 |
| Max drawdown (3Y) | -29.2% | -24.7% |
| Market cap | $337.5B | $256.9B |
| P/E (trailing) | 17.4 | 12.4 |
| Dividend yield | 1.94% | 2.11% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | MS | WFC |
|---|---|---|
| 2022 | -10.3% | -11.9% |
| 2023 | +13.9% | +22.9% |
| 2024 | +39.7% | +46.5% |
| 2025 | +45.2% | +35.6% |
| 2026 | +23.0% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MS and WFC good diversifiers for each other?
Only partially. A correlation of 0.73 means MS and WFC 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 MS and WFC?
As of 2026-08-27, the correlation of weekly returns between MS and WFC is 0.73 over 3 years, 0.57 over 1 year and 0.73 over 5 years.
Is WFC a good diversifier for MS?
Only partially. A correlation of 0.73 means MS and WFC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.73 mean?
On the −1 to +1 scale, 0.73 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.
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Related comparisons
Hubs: MS correlations · WFC correlations
