PNFP vs RNST: Correlation
How closely do Pinnacle Financial Partners, Inc. (PNFP) and Renasant Corporation (RNST) trade together? Their weekly returns over three years give a correlation of 0.83, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNFP and RNST?
Across a 3-year window, the weekly returns of PNFP and RNST correlate at 0.83, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.81 over 1 year against 0.83 over 3. Stretching to 5 years gives 0.79, with an annualized covariance of 888.0 %².
Within PNFP's tracked universe of 14 assets, RNST comes in at #5 by 3-year correlation. Neither side won the trailing year by much: +6.4% against +7.1%.
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.
PNFP vs RNST: side by side
| PNFP (Pinnacle Financial Partners, Inc.) | RNST (Renasant Corporation) | |
|---|---|---|
| 1-year return | +6.4% | +7.1% |
| 5-year return | +12.0% | +34.8% |
| Volatility (ann.) | 35.3% | 30.4% |
| Beta vs S&P 500 | 1.22 | 0.95 |
| Max drawdown (3Y) | -35.8% | -29.3% |
| Market cap | $15.3B | $3.8B |
| P/E (trailing) | 13.9 | 12.1 |
| Dividend yield | 1.46% | 2.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PNFP | RNST |
|---|---|---|
| 2022 | -22.3% | +1.7% |
| 2023 | +20.5% | -7.7% |
| 2024 | +32.4% | +9.1% |
| 2025 | -15.8% | +1.0% |
| 2026 | +7.4% | +18.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNFP and RNST good diversifiers for each other?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between PNFP and RNST?
The PNFP/RNST correlation stands at 0.83 on a 3-year window (1 year: 0.81, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is RNST a good diversifier for PNFP?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.83 mean?
On the −1 to +1 scale, 0.83 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
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Related comparisons
Hubs: PNFP correlations · RNST correlations
