MTB vs PRU: Correlation
How closely do M&T Bank (MTB) and Prudential Financial (PRU) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTB and PRU?
On 3 years of weekly data the MTB/PRU correlation comes out at 0.64, strong. The link has loosened recently: the 1-year correlation (0.40) runs below the 3-year figure (0.64). The 5-year figure is 0.65, and annualized covariance runs at 390.1 %².
Within MTB's tracked universe of 35 assets, PRU comes in at #20 by 3-year correlation. On 12-month performance MTB holds a 5.9-point edge, +21.7% against +15.8%. On a rolling one-year basis the correlation drifted between 0.40 and 0.80, a moderate band.
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.
MTB vs PRU: side by side
| MTB (M&T Bank) | PRU (Prudential Financial) | |
|---|---|---|
| 1-year return | +21.7% | +15.8% |
| 5-year return | +101.3% | +45.1% |
| Volatility (ann.) | 26.5% | 23.0% |
| Beta vs S&P 500 | 0.83 | 0.79 |
| Max drawdown (3Y) | -28.5% | -25.7% |
| Market cap | $34.5B | $41.5B |
| P/E (trailing) | 12.8 | 10.9 |
| Dividend yield | 2.48% | 4.57% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | MTB | PRU |
|---|---|---|
| 2022 | -2.9% | -3.9% |
| 2023 | -1.7% | +10.1% |
| 2024 | +41.7% | +19.5% |
| 2025 | +10.4% | +0.2% |
| 2026 | +20.1% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTB and PRU good diversifiers for each other?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MTB and PRU?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.40 over the last year and 0.65 over 5 years.
Is PRU a good diversifier for MTB?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mtb-vs-pru.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mtb-vs-pru/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MTB correlations · PRU correlations
