TFC vs ZION: Correlation
Measured on weekly returns over the past three years, Truist Financial (TFC) and Zions Bancorporation N.A. (ZION) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TFC and ZION?
Across a 3-year window, the weekly returns of TFC and ZION correlate at 0.85, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.84 lands near the 3-year figure. Stretching to 5 years gives 0.85, with an annualized covariance of 848.5 %².
Among the 39 assets we track against TFC, ZION ranks #12 by 3-year correlation. The trailing year gives ZION the advantage: +12.1% versus +20.7%, a 8.6-point spread.
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 ZION: side by side
| TFC (Truist Financial) | ZION (Zions Bancorporation N.A.) | |
|---|---|---|
| 1-year return | +12.1% | +20.7% |
| 5-year return | +12.7% | +41.1% |
| Volatility (ann.) | 28.0% | 35.5% |
| Beta vs S&P 500 | 1.07 | 1.29 |
| Max drawdown (3Y) | -26.9% | -32.4% |
| Market cap | $61.4B | $9.9B |
| P/E (trailing) | 11.6 | 8.7 |
| Dividend yield | 4.10% | 2.63% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | TFC | ZION |
|---|---|---|
| 2022 | -23.5% | -20.0% |
| 2023 | -8.6% | -6.3% |
| 2024 | +23.7% | +28.2% |
| 2025 | +19.0% | +11.6% |
| 2026 | +5.4% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TFC and ZION good diversifiers for each other?
No: a correlation of 0.85 means TFC and ZION tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between TFC and ZION?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.84 over the last year and 0.85 over 5 years.
Is ZION a good diversifier for TFC?
No: a correlation of 0.85 means TFC and ZION tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.85 mean?
A reading of 0.85 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tfc-vs-zion.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/tfc-vs-zion/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TFC correlations · ZION correlations
