NTRS vs TFC: Correlation
How closely do Northern Trust (NTRS) and Truist Financial (TFC) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTRS and TFC?
Over the past 3 years, NTRS and TFC moved with a correlation of 0.75, which is strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 498.4 %².
By 3-year correlation, TFC places #4 of the 33 assets tracked against NTRS. Their recent paths diverged sharply: over the last 12 months NTRS outperformed by 32.7 percentage points (+44.8% for NTRS against +12.1% for TFC). Stability stands out here, with the rolling one-year correlation confined to 0.60 through 0.83.
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 TFC: side by side
| NTRS (Northern Trust) | TFC (Truist Financial) | |
|---|---|---|
| 1-year return | +44.8% | +12.1% |
| 5-year return | +83.2% | +12.7% |
| Volatility (ann.) | 23.7% | 28.0% |
| Beta vs S&P 500 | 1.08 | 1.07 |
| Max drawdown (3Y) | -25.2% | -26.9% |
| Market cap | $34.1B | $61.4B |
| P/E (trailing) | 16.1 | 11.6 |
| Dividend yield | 1.71% | 4.10% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | NTRS | TFC |
|---|---|---|
| 2022 | -23.8% | -23.5% |
| 2023 | -1.0% | -8.6% |
| 2024 | +25.6% | +23.7% |
| 2025 | +36.9% | +19.0% |
| 2026 | +37.8% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTRS and TFC good diversifiers for each other?
To a limited degree. At 0.75 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 TFC?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.69 over the last year and 0.72 over 5 years.
Is TFC a good diversifier for NTRS?
To a limited degree. At 0.75 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 0.75 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-tfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ntrs-vs-tfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NTRS correlations · TFC correlations
