FHN vs. PNC

Last updated Jun 3, 2026

FHN (First Horizon Corporation) and PNC (The PNC Financial Services Group, Inc.) are both stocks. Both operate in the Banks - Regional industry within the Financial Services sector. Over the past 10 years, FHN returned 8.88%/yr vs 13.07%/yr for PNC. A 0.58 correlation means they provide meaningful diversification when combined.

Performance

FHN vs. PNC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Horizon Corporation (FHN) and The PNC Financial Services Group, Inc. (PNC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHN achieves a 1.19% return, which is significantly lower than PNC's 6.18% return. Over the past 10 years, FHN has underperformed PNC with an annualized return of 8.88%, while PNC has yielded a comparatively higher 13.07% annualized return.

FHN

• 1D: 1.61%
• 1M: -3.58%
• YTD: 1.19%
• 6M: 9.09%
• 1Y: 24.55%
• 3Y*: 34.43%
• 5Y*: 8.35%
• 10Y*: 8.88%

PNC

• 1D: -1.24%
• 1M: 0.11%
• YTD: 6.18%
• 6M: 11.94%
• 1Y: 27.96%
• 3Y*: 25.61%
• 5Y*: 6.19%
• 10Y*: 13.07%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FHN vs. PNC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FHN First Horizon Corporation	1.19%	22.12%	47.68%	-39.44%	53.94%	32.61%	-18.45%	30.48%	-32.35%	1.93%
PNC The PNC Financial Services Group, Inc.	6.18%	12.24%	29.39%	2.71%	-18.59%	38.18%	-2.78%	40.91%	-16.98%	25.95%

Correlation

The correlation between FHN and PNC is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Mar 27, 1990	0.58

The correlation between FHN and PNC shifts across timeframes, from 0.58 (all time) to 0.76 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap FHN : $11.69B PNC : $89.74B
EPS FHN : $2.05 PNC : $18.09
PE Ratio FHN : 11.73 PNC : 12.07
PEG Ratio FHN : 3.29 PNC : 1.63
PS Ratio FHN : 2.62 PNC : 2.72
PB Ratio FHN : 1.39 PNC : 1.41
Total Revenue (TTM) FHN : $4.60B PNC : $32.06B
Gross Profit (TTM) FHN : $3.40B PNC : $23.04B
EBITDA (TTM) FHN : $1.40B PNC : $8.83B

Return for Risk

FHN vs. PNC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FHN

FHN Risk / Return Rank: 66
FHN Sharpe Ratio Rank: 70
FHN Sortino Ratio Rank: 61
FHN Omega Ratio Rank: 62
FHN Calmar Ratio Rank: 68
FHN Martin Ratio Rank: 69

PNC

PNC Risk / Return Rank: 72
PNC Sharpe Ratio Rank: 78
PNC Sortino Ratio Rank: 72
PNC Omega Ratio Rank: 70
PNC Calmar Ratio Rank: 70
PNC Martin Ratio Rank: 69

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FHN vs. PNC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Horizon Corporation (FHN) and The PNC Financial Services Group, Inc. (PNC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FHN	PNC	Difference
Sharpe ratio Return per unit of total volatility	0.96	1.32	-0.36
Sortino ratio Return per unit of downside risk	1.34	1.86	-0.51
Omega ratio Gain probability vs. loss probability	1.18	1.23	-0.05
Calmar ratio Return relative to maximum drawdown	1.46	1.63	-0.17
Martin ratio Return relative to average drawdown	3.66	3.72	-0.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHN vs. PNC - Sharpe Ratio Comparison

The current FHN Sharpe Ratio is 0.96, which is comparable to the PNC Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of FHN and PNC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FHN	PNC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.96	1.32	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.23	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.44	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.30	-0.01

Drawdowns

FHN vs. PNC - Drawdown Comparison

The maximum FHN drawdown since its inception was -87.74%, which is greater than PNC's maximum drawdown of -76.65%. Use the drawdown chart below to compare losses from any high point for FHN and PNC.

Drawdown Indicators

	FHN	PNC	Difference
Max Drawdown Largest peak-to-trough decline	-87.74%	-76.65%	-11.09%
Max Drawdown (1Y) Largest decline over 1 year	-16.52%	-17.21%	+0.69%
Max Drawdown (3Y) Largest decline over 3 years	-27.14%	-29.77%	+2.63%
Max Drawdown (5Y) Largest decline over 5 years	-60.76%	-47.98%	-12.78%
Max Drawdown (10Y) Largest decline over 10 years	-64.25%	-49.58%	-14.67%
Current Drawdown Current decline from peak	-7.79%	-9.29%	+1.50%
Average Drawdown Average peak-to-trough decline	-20.08%	-15.69%	-4.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.60%	7.54%	-0.94%

Volatility

FHN vs. PNC - Volatility Comparison

First Horizon Corporation (FHN) has a higher volatility of 6.38% compared to The PNC Financial Services Group, Inc. (PNC) at 5.91%. This indicates that FHN's price experiences larger fluctuations and is considered to be riskier than PNC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHN	PNC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.38%	5.91%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	17.22%	16.20%	+1.02%
Volatility (1Y) Calculated over the trailing 1-year period	25.75%	21.32%	+4.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.13%	27.08%	+10.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.00%	29.68%	+9.32%

Dividends

FHN vs. PNC - Dividend Comparison

FHN's dividend yield for the trailing twelve months is around 2.58%, less than PNC's 3.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHN First Horizon Corporation	2.58%	2.51%	2.98%	4.24%	2.45%	3.67%	4.70%	3.38%	3.65%	1.80%	1.40%	1.65%
PNC The PNC Financial Services Group, Inc.	3.12%	3.16%	3.27%	3.94%	3.64%	2.39%	3.09%	2.63%	2.91%	1.80%	1.81%	2.11%

Financials

FHN vs. PNC - Profitability Comparison

The chart below illustrates the profitability comparison between First Horizon Corporation and The PNC Financial Services Group, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

FHN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, First Horizon Corporation reported a gross profit of 862.00M and revenue of 862.00M. Therefore, the gross margin over that period was 100.0%.

PNC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The PNC Financial Services Group, Inc. reported a gross profit of 5.96B and revenue of 6.17B. Therefore, the gross margin over that period was 96.6%.

FHN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, First Horizon Corporation reported an operating income of 357.00M and revenue of 862.00M, resulting in an operating margin of 41.4%.

PNC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The PNC Financial Services Group, Inc. reported an operating income of 2.19B and revenue of 6.17B, resulting in an operating margin of 35.5%.

FHN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, First Horizon Corporation reported a net income of 263.00M and revenue of 862.00M, resulting in a net margin of 30.5%.

PNC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The PNC Financial Services Group, Inc. reported a net income of 1.77B and revenue of 6.17B, resulting in a net margin of 28.7%.

Frequently Asked Questions

Can I hold both FHN and PNC in my portfolio?

FHN and PNC have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHN or PNC?

FHN has higher volatility (6.38%) compared to PNC (5.91%). In terms of maximum drawdown, FHN dropped -87.74% vs PNC's -76.65%.

Which has better risk-adjusted returns?

PNC currently has the higher Sharpe Ratio (1.32 vs 0.96), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.