OCFC vs PFS: Correlation
How closely do OceanFirst Financial Corp. (OCFC) and Provident Financial Services, Inc (PFS) trade together? Their weekly returns over three years give a correlation of 0.85, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OCFC and PFS?
On 3 years of weekly data the OCFC/PFS correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.75 over 1 year against 0.85 over 3. The 5-year figure is 0.84, and annualized covariance runs at 824.4 %².
Within OCFC's tracked universe of 13 assets, PFS comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PFS ahead by 17.5 points (+6.4% versus +23.9%).
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.
OCFC vs PFS: side by side
| OCFC (OceanFirst Financial Corp.) | PFS (Provident Financial Services, Inc) | |
|---|---|---|
| 1-year return | +6.4% | +23.9% |
| 5-year return | +10.9% | +37.5% |
| Volatility (ann.) | 31.8% | 30.4% |
| Beta vs S&P 500 | 1.04 | 0.87 |
| Max drawdown (3Y) | -29.8% | -31.3% |
| Market cap | $1.8B | $3.1B |
| P/E (trailing) | 23.6 | 9.8 |
| Dividend yield | 4.21% | 2.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OCFC | PFS |
|---|---|---|
| 2022 | -0.9% | -8.0% |
| 2023 | -14.2% | -10.8% |
| 2024 | +9.4% | +10.7% |
| 2025 | +3.9% | +10.2% |
| 2026 | +8.6% | +23.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OCFC and PFS good diversifiers for each other?
No. With a correlation of 0.85, OCFC and PFS move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between OCFC and PFS?
The OCFC/PFS correlation stands at 0.85 on a 3-year window (1 year: 0.75, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is PFS a good diversifier for OCFC?
No. With a correlation of 0.85, OCFC and PFS move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ocfc-vs-pfs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ocfc-vs-pfs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OCFC correlations · PFS correlations
