TFC vs WFC: Correlation
Truist Financial (TFC) and Wells Fargo (WFC) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TFC and WFC?
Over the past 3 years, TFC and WFC moved with a correlation of 0.73, which is strong. Recent behaviour matches the longer record: 0.71 over 1 year against 0.73 over 3. Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 605.8 %².
Within TFC's tracked universe of 39 assets, WFC comes in at #21 by 3-year correlation. On 12-month performance TFC holds a 6.9-point edge, +12.1% against +5.2%. Across three years, the rolling one-year figure varied moderately, from 0.49 to 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.
TFC vs WFC: side by side
| TFC (Truist Financial) | WFC (Wells Fargo) | |
|---|---|---|
| 1-year return | +12.1% | +5.2% |
| 5-year return | +12.7% | +98.3% |
| Volatility (ann.) | 28.0% | 29.7% |
| Beta vs S&P 500 | 1.07 | 0.98 |
| Max drawdown (3Y) | -26.9% | -24.7% |
| Market cap | $61.4B | $256.9B |
| P/E (trailing) | 11.6 | 12.4 |
| Dividend yield | 4.10% | 2.11% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | TFC | WFC |
|---|---|---|
| 2022 | -23.5% | -11.9% |
| 2023 | -8.6% | +22.9% |
| 2024 | +23.7% | +46.5% |
| 2025 | +19.0% | +35.6% |
| 2026 | +5.4% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TFC and WFC good diversifiers for each other?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between TFC and WFC?
As of 2026-08-27, the correlation of weekly returns between TFC and WFC is 0.73 over 3 years, 0.71 over 1 year and 0.72 over 5 years.
Is WFC a good diversifier for TFC?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.73 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.
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Related comparisons
Hubs: TFC correlations · WFC correlations
