PNC vs ZION: Correlation
How closely do PNC Financial Services (PNC) and Zions Bancorporation N.A. (ZION) trade together? Their weekly returns over three years give a correlation of 0.88, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNC and ZION?
Across a 3-year window, the weekly returns of PNC and ZION correlate at 0.88, 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. Stretching to 5 years gives 0.83, with an annualized covariance of 802.7 %².
Among the 47 assets we track against PNC, ZION ranks #8 by 3-year correlation. Neither side won the trailing year by much: +22.1% against +20.7%.
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 ZION: side by side
| PNC (PNC Financial Services) | ZION (Zions Bancorporation N.A.) | |
|---|---|---|
| 1-year return | +22.1% | +20.7% |
| 5-year return | +53.5% | +41.1% |
| Volatility (ann.) | 25.6% | 35.5% |
| Beta vs S&P 500 | 0.92 | 1.29 |
| Max drawdown (3Y) | -29.8% | -32.4% |
| Market cap | $97.1B | $9.9B |
| P/E (trailing) | 13.5 | 8.7 |
| Dividend yield | 2.78% | 2.63% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | PNC | ZION |
|---|---|---|
| 2022 | -18.6% | -20.0% |
| 2023 | +2.7% | -6.3% |
| 2024 | +29.4% | +28.2% |
| 2025 | +12.2% | +11.6% |
| 2026 | +19.4% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNC and ZION good diversifiers for each other?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between PNC and ZION?
As of 2026-08-27, the correlation of weekly returns between PNC and ZION is 0.88 over 3 years, 0.89 over 1 year and 0.83 over 5 years.
Is ZION a good diversifier for PNC?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.88 mean?
On the −1 to +1 scale, 0.88 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pnc-vs-zion.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pnc-vs-zion/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PNC correlations · ZION correlations
