MTB vs TFC: Correlation
Measured on weekly returns over the past three years, M&T Bank (MTB) and Truist Financial (TFC) carry a correlation of 0.83, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTB and TFC?
Across a 3-year window, the weekly returns of MTB and TFC correlate at 0.83, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.92) sits close to the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 615.9 %².
Within MTB's tracked universe of 35 assets, TFC comes in at #15 by 3-year correlation. On 12-month performance MTB holds a 9.6-point edge, +21.7% against +12.1%. Across three years, the rolling one-year figure varied moderately, from 0.60 to 0.94.
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 TFC: side by side
| MTB (M&T Bank) | TFC (Truist Financial) | |
|---|---|---|
| 1-year return | +21.7% | +12.1% |
| 5-year return | +101.3% | +12.7% |
| Volatility (ann.) | 26.5% | 28.0% |
| Beta vs S&P 500 | 0.83 | 1.07 |
| Max drawdown (3Y) | -28.5% | -26.9% |
| Market cap | $34.5B | $61.4B |
| P/E (trailing) | 12.8 | 11.6 |
| Dividend yield | 2.48% | 4.10% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | MTB | TFC |
|---|---|---|
| 2022 | -2.9% | -23.5% |
| 2023 | -1.7% | -8.6% |
| 2024 | +41.7% | +23.7% |
| 2025 | +10.4% | +19.0% |
| 2026 | +20.1% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTB and TFC good diversifiers for each other?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between MTB and TFC?
As of 2026-08-27, the correlation of weekly returns between MTB and TFC is 0.83 over 3 years, 0.92 over 1 year and 0.76 over 5 years.
Is TFC a good diversifier for MTB?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.83 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/mtb-vs-tfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mtb-vs-tfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MTB correlations · TFC correlations
