PNC vs TFC: Correlation
PNC Financial Services (PNC) and Truist Financial (TFC) show a very strong relationship: their 3-year correlation of weekly returns is 0.86.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNC and TFC?
Over the past 3 years, PNC and TFC moved with a correlation of 0.86, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.89 lands near the 3-year figure. Over 5 years the correlation is 0.84, and the annualized covariance of weekly returns is 616.0 %².
Within PNC's tracked universe of 47 assets, TFC comes in at #13 by 3-year correlation. Over the last 12 months PNC came out ahead by 10.0 percentage points (+22.1% against +12.1%). Stability stands out here, with the rolling one-year correlation confined to 0.74 through 0.93.
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 TFC: side by side
| PNC (PNC Financial Services) | TFC (Truist Financial) | |
|---|---|---|
| 1-year return | +22.1% | +12.1% |
| 5-year return | +53.5% | +12.7% |
| Volatility (ann.) | 25.6% | 28.0% |
| Beta vs S&P 500 | 0.92 | 1.07 |
| Max drawdown (3Y) | -29.8% | -26.9% |
| Market cap | $97.1B | $61.4B |
| P/E (trailing) | 13.5 | 11.6 |
| Dividend yield | 2.78% | 4.10% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | PNC | TFC |
|---|---|---|
| 2022 | -18.6% | -23.5% |
| 2023 | +2.7% | -8.6% |
| 2024 | +29.4% | +23.7% |
| 2025 | +12.2% | +19.0% |
| 2026 | +19.4% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNC and TFC good diversifiers for each other?
No. With a correlation of 0.86, PNC and TFC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between PNC and TFC?
The PNC/TFC correlation stands at 0.86 on a 3-year window (1 year: 0.89, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is TFC a good diversifier for PNC?
No. With a correlation of 0.86, PNC and TFC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.86 mean?
A reading of 0.86 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-tfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pnc-vs-tfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PNC correlations · TFC correlations
