PNC vs RFAI: Correlation
Measured on weekly returns over the past three years, PNC Financial Services (PNC) and RF Acquisition Corp II (RFAI) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNC and RFAI?
Across a 3-year window, the weekly returns of PNC and RFAI correlate at -0.16, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -1170.0 %².
Among the 47 assets we track against PNC, RFAI ranks #41 by 3-year correlation. The last year tells two different stories: RFAI led by 367.4 percentage points, +22.1% for PNC against +389.5% for RFAI. One caveat on sizing: RFAI is 11.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PNC vs RFAI: side by side
| PNC (PNC Financial Services) | RFAI (RF Acquisition Corp II) | |
|---|---|---|
| 1-year return | +22.1% | +389.5% |
| 5-year return | +53.5% | n/a |
| Volatility (ann.) | 25.6% | 288.3% |
| Beta vs S&P 500 | 0.92 | -1.62 |
| Max drawdown (3Y) | -29.8% | -16.5% |
| Market cap | $97.1B | $0.4B |
| P/E (trailing) | 13.5 | 399.9 |
| Dividend yield | 2.78% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | PNC | RFAI |
|---|---|---|
| 2022 | -18.6% | – |
| 2023 | +2.7% | – |
| 2024 | +29.4% | – |
| 2025 | +12.2% | +5.2% |
| 2026 | +19.4% | +383.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNC and RFAI good diversifiers for each other?
Yes. With a correlation of -0.16, PNC and RFAI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PNC and RFAI?
As of 2026-08-27, the correlation of weekly returns between PNC and RFAI is -0.16 over 3 years, -0.25 over 1 year and n/a over 5 years.
Is RFAI a good diversifier for PNC?
Yes. With a correlation of -0.16, PNC and RFAI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
A reading of -0.16 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/pnc-vs-rfai.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pnc-vs-rfai/)
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Related comparisons
Hubs: PNC correlations · RFAI correlations
