RF vs USB: Correlation
How closely do Regions Financial Corporation (RF) and U.S. Bancorp (USB) trade together? Their weekly returns over three years give a correlation of 0.89, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RF and USB?
Across a 3-year window, the weekly returns of RF and USB correlate at 0.89, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.88) sits close to the 3-year figure. Stretching to 5 years gives 0.87, with an annualized covariance of 705.5 %².
By 3-year correlation, USB places #7 of the 44 assets tracked against RF. The last year tells two different stories: USB led by 17.7 percentage points, +15.4% for RF against +33.1% for USB. The link looks structural: the rolling one-year correlation barely moved, holding between 0.84 and 0.91.
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.
RF vs USB: side by side
| RF (Regions Financial Corporation) | USB (U.S. Bancorp) | |
|---|---|---|
| 1-year return | +15.4% | +33.1% |
| 5-year return | +83.5% | +36.0% |
| Volatility (ann.) | 29.2% | 27.3% |
| Beta vs S&P 500 | 1.09 | 1.09 |
| Max drawdown (3Y) | -31.9% | -30.6% |
| Market cap | $25.9B | $97.2B |
| P/E (trailing) | 12.4 | 12.5 |
| Dividend yield | 3.45% | 3.31% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | RF | USB |
|---|---|---|
| 2022 | +2.3% | -19.1% |
| 2023 | -5.7% | +4.8% |
| 2024 | +27.0% | +15.6% |
| 2025 | +20.2% | +16.5% |
| 2026 | +14.3% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RF and USB good diversifiers for each other?
No: a correlation of 0.89 means RF and USB tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between RF and USB?
As of 2026-08-27, the correlation of weekly returns between RF and USB is 0.89 over 3 years, 0.88 over 1 year and 0.87 over 5 years.
Is USB a good diversifier for RF?
No: a correlation of 0.89 means RF and USB tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.89 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/rf-vs-usb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rf-vs-usb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RF correlations · USB correlations
