NTRS vs USB: Correlation
Northern Trust (NTRS) and U.S. Bancorp (USB) show a strong relationship: their 3-year correlation of weekly returns is 0.75.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTRS and USB?
On 3 years of weekly data the NTRS/USB correlation comes out at 0.75, strong. Lately the two have drifted apart, with the 1-year correlation at 0.62 versus 0.75 over 3 years. The 5-year figure is 0.75, and annualized covariance runs at 485.9 %².
Among the 33 assets we track against NTRS, USB ranks #5 by 3-year correlation. Over the last 12 months NTRS came out ahead by 11.7 percentage points (+44.8% against +33.1%). Across three years, the rolling one-year figure varied moderately, from 0.60 to 0.90.
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 USB: side by side
| NTRS (Northern Trust) | USB (U.S. Bancorp) | |
|---|---|---|
| 1-year return | +44.8% | +33.1% |
| 5-year return | +83.2% | +36.0% |
| Volatility (ann.) | 23.7% | 27.3% |
| Beta vs S&P 500 | 1.08 | 1.09 |
| Max drawdown (3Y) | -25.2% | -30.6% |
| Market cap | $34.1B | $97.2B |
| P/E (trailing) | 16.1 | 12.5 |
| Dividend yield | 1.71% | 3.31% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | NTRS | USB |
|---|---|---|
| 2022 | -23.8% | -19.1% |
| 2023 | -1.0% | +4.8% |
| 2024 | +25.6% | +15.6% |
| 2025 | +36.9% | +16.5% |
| 2026 | +37.8% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTRS and USB 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 USB?
As of 2026-08-27, the correlation of weekly returns between NTRS and USB is 0.75 over 3 years, 0.62 over 1 year and 0.75 over 5 years.
Is USB 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?
A reading of 0.75 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-usb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ntrs-vs-usb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NTRS correlations · USB correlations
