NTRS vs SCHW: Correlation
Measured on weekly returns over the past three years, Northern Trust (NTRS) and Charles Schwab Corporation (SCHW) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTRS and SCHW?
Across a 3-year window, the weekly returns of NTRS and SCHW correlate at 0.64, strong. The past 12 months show a weaker link (0.38) than the 3-year average (0.64). Stretching to 5 years gives 0.66, with an annualized covariance of 420.2 %².
Among the 33 assets we track against NTRS, SCHW ranks #20 by 3-year correlation. The last year tells two different stories: NTRS led by 31.8 percentage points, +44.8% for NTRS against +13.0% for SCHW. The rolling one-year correlation moved between 0.34 and 0.81 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.
NTRS vs SCHW: side by side
| NTRS (Northern Trust) | SCHW (Charles Schwab Corporation) | |
|---|---|---|
| 1-year return | +44.8% | +13.0% |
| 5-year return | +83.2% | +57.3% |
| Volatility (ann.) | 23.7% | 27.8% |
| Beta vs S&P 500 | 1.08 | 0.93 |
| Max drawdown (3Y) | -25.2% | -21.4% |
| Market cap | $34.1B | $186.9B |
| P/E (trailing) | 16.1 | 19.9 |
| Dividend yield | 1.71% | 1.08% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | NTRS | SCHW |
|---|---|---|
| 2022 | -23.8% | +0.1% |
| 2023 | -1.0% | -16.0% |
| 2024 | +25.6% | +9.2% |
| 2025 | +36.9% | +36.6% |
| 2026 | +37.8% | +9.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTRS and SCHW good diversifiers for each other?
Only partially. A correlation of 0.64 means NTRS and SCHW 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 NTRS and SCHW?
As of 2026-08-27, the correlation of weekly returns between NTRS and SCHW is 0.64 over 3 years, 0.38 over 1 year and 0.66 over 5 years.
Is SCHW a good diversifier for NTRS?
Only partially. A correlation of 0.64 means NTRS and SCHW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 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/ntrs-vs-schw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ntrs-vs-schw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NTRS correlations · SCHW correlations
