PFS vs WAFD: Correlation
Measured on weekly returns over the past three years, Provident Financial Services, Inc (PFS) and WaFd, Inc. (WAFD) carry a correlation of 0.83, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFS and WAFD?
Over the past 3 years, PFS and WAFD moved with a correlation of 0.83, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.77) sits close to the 3-year figure. Over 5 years the correlation is 0.79, and the annualized covariance of weekly returns is 726.7 %².
Within PFS's tracked universe of 28 assets, WAFD comes in at #9 by 3-year correlation. On 12-month performance PFS holds a 7.0-point edge, +23.9% against +16.9%.
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.
PFS vs WAFD: side by side
| PFS (Provident Financial Services, Inc) | WAFD (WaFd, Inc.) | |
|---|---|---|
| 1-year return | +23.9% | +16.9% |
| 5-year return | +37.5% | +28.1% |
| Volatility (ann.) | 30.4% | 28.8% |
| Beta vs S&P 500 | 0.87 | 0.70 |
| Max drawdown (3Y) | -31.3% | -34.6% |
| Market cap | $3.1B | $2.7B |
| P/E (trailing) | 9.8 | 11.4 |
| Dividend yield | 2.04% | 2.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PFS | WAFD |
|---|---|---|
| 2022 | -8.0% | +3.4% |
| 2023 | -10.8% | +1.7% |
| 2024 | +10.7% | +1.1% |
| 2025 | +10.2% | +3.0% |
| 2026 | +23.1% | +15.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFS and WAFD good diversifiers for each other?
No: a correlation of 0.83 means PFS and WAFD tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between PFS and WAFD?
As of 2026-08-27, the correlation of weekly returns between PFS and WAFD is 0.83 over 3 years, 0.77 over 1 year and 0.79 over 5 years.
Is WAFD a good diversifier for PFS?
No: a correlation of 0.83 means PFS and WAFD tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.83 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/pfs-vs-wafd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pfs-vs-wafd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PFS correlations · WAFD correlations
