NTRS vs RF: Correlation
Measured on weekly returns over the past three years, Northern Trust (NTRS) and Regions Financial Corporation (RF) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTRS and RF?
On 3 years of weekly data the NTRS/RF correlation comes out at 0.74, strong. The relationship has been stable: the 1-year correlation (0.66) sits close to the 3-year figure. The 5-year figure is 0.74, and annualized covariance runs at 507.7 %².
Within NTRS's tracked universe of 33 assets, RF comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NTRS ahead by 29.4 points (+44.8% versus +15.4%). The rolling one-year correlation stayed in a tight band between 0.61 and 0.81 over the past three years, which points to a structural rather than episodic relationship.
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.
NTRS vs RF: side by side
| NTRS (Northern Trust) | RF (Regions Financial Corporation) | |
|---|---|---|
| 1-year return | +44.8% | +15.4% |
| 5-year return | +83.2% | +83.5% |
| Volatility (ann.) | 23.7% | 29.2% |
| Beta vs S&P 500 | 1.08 | 1.09 |
| Max drawdown (3Y) | -25.2% | -31.9% |
| Market cap | $34.1B | $25.9B |
| P/E (trailing) | 16.1 | 12.4 |
| Dividend yield | 1.71% | 3.45% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | NTRS | RF |
|---|---|---|
| 2022 | -23.8% | +2.3% |
| 2023 | -1.0% | -5.7% |
| 2024 | +25.6% | +27.0% |
| 2025 | +36.9% | +20.2% |
| 2026 | +37.8% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTRS and RF good diversifiers for each other?
To a limited degree. At 0.74 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 NTRS and RF?
The NTRS/RF correlation stands at 0.74 on a 3-year window (1 year: 0.66, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is RF a good diversifier for NTRS?
To a limited degree. At 0.74 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 0.74 mean?
A reading of 0.74 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/ntrs-vs-rf.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ntrs-vs-rf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NTRS correlations · RF correlations
