PNC vs RY: Correlation
How closely do PNC Financial Services (PNC) and Royal Bank Of Canada (RY) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNC and RY?
Over the past 3 years, PNC and RY moved with a correlation of 0.67, which is strong. Recent behaviour matches the longer record: 0.66 over 1 year against 0.67 over 3. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 274.2 %².
Within PNC's tracked universe of 47 assets, RY comes in at #25 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RY ahead by 20.5 points (+22.1% versus +42.6%). Risk is not evenly split, since PNC carries 1.6 times the volatility of the other side.
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 RY: side by side
| PNC (PNC Financial Services) | RY (Royal Bank Of Canada) | |
|---|---|---|
| 1-year return | +22.1% | +42.6% |
| 5-year return | +53.5% | +132.0% |
| Volatility (ann.) | 25.6% | 16.1% |
| Beta vs S&P 500 | 0.92 | 0.57 |
| Max drawdown (3Y) | -29.8% | -14.6% |
| Market cap | $97.1B | $283.2B |
| P/E (trailing) | 13.5 | 18.7 |
| Dividend yield | 2.78% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | PNC | RY |
|---|---|---|
| 2022 | -18.6% | -8.0% |
| 2023 | +2.7% | +12.2% |
| 2024 | +29.4% | +23.8% |
| 2025 | +12.2% | +45.2% |
| 2026 | +19.4% | +21.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNC and RY good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PNC and RY?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.66 over the last year and 0.67 over 5 years.
Is RY a good diversifier for PNC?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 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/pnc-vs-ry.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pnc-vs-ry/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PNC correlations · RY correlations
