PNC vs WFC: Correlation
PNC Financial Services (PNC) and Wells Fargo (WFC) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNC and WFC?
Across a 3-year window, the weekly returns of PNC and WFC correlate at 0.72, strong. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 548.6 %².
Among the 47 assets we track against PNC, WFC ranks #23 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PNC ahead by 16.9 points (+22.1% versus +5.2%). On a rolling one-year basis the correlation drifted between 0.59 and 0.89, a moderate band.
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 WFC: side by side
| PNC (PNC Financial Services) | WFC (Wells Fargo) | |
|---|---|---|
| 1-year return | +22.1% | +5.2% |
| 5-year return | +53.5% | +98.3% |
| Volatility (ann.) | 25.6% | 29.7% |
| Beta vs S&P 500 | 0.92 | 0.98 |
| Max drawdown (3Y) | -29.8% | -24.7% |
| Market cap | $97.1B | $256.9B |
| P/E (trailing) | 13.5 | 12.4 |
| Dividend yield | 2.78% | 2.11% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | PNC | WFC |
|---|---|---|
| 2022 | -18.6% | -11.9% |
| 2023 | +2.7% | +22.9% |
| 2024 | +29.4% | +46.5% |
| 2025 | +12.2% | +35.6% |
| 2026 | +19.4% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNC and WFC good diversifiers for each other?
Only partially. A correlation of 0.72 means PNC and WFC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between PNC and WFC?
The PNC/WFC correlation stands at 0.72 on a 3-year window (1 year: 0.65, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is WFC a good diversifier for PNC?
Only partially. A correlation of 0.72 means PNC and WFC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 mean?
On the −1 to +1 scale, 0.72 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: PNC correlations · WFC correlations
