PFG vs PNC: Correlation
How closely do Principal Financial Group (PFG) and PNC Financial Services (PNC) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFG and PNC?
Across a 3-year window, the weekly returns of PFG and PNC correlate at 0.68, strong. The past 12 months show a weaker link (0.48) than the 3-year average (0.68). Stretching to 5 years gives 0.70, with an annualized covariance of 398.8 %².
By 3-year correlation, PNC places #15 of the 32 assets tracked against PFG. Correlation aside, the last 12 months split them widely, with PFG ahead by 21.8 points (+43.9% versus +22.1%). Across three years, the rolling one-year figure varied moderately, from 0.47 to 0.80.
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.
PFG vs PNC: side by side
| PFG (Principal Financial Group) | PNC (PNC Financial Services) | |
|---|---|---|
| 1-year return | +43.9% | +22.1% |
| 5-year return | +99.7% | +53.5% |
| Volatility (ann.) | 22.9% | 25.6% |
| Beta vs S&P 500 | 0.88 | 0.92 |
| Max drawdown (3Y) | -22.4% | -29.8% |
| Market cap | $24.0B | $97.1B |
| P/E (trailing) | 16.0 | 13.5 |
| Dividend yield | 2.84% | 2.78% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | PFG | PNC |
|---|---|---|
| 2022 | +20.1% | -18.6% |
| 2023 | -2.8% | +2.7% |
| 2024 | +1.9% | +29.4% |
| 2025 | +18.4% | +12.2% |
| 2026 | +29.3% | +19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFG and PNC good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PFG and PNC?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.48 over the last year and 0.70 over 5 years.
Is PNC a good diversifier for PFG?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 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/pfg-vs-pnc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pfg-vs-pnc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PFG correlations · PNC correlations
