WAL vs. CFG

Last updated Apr 1, 2026

Compare and contrast key facts about Western Alliance Bancorporation (WAL) and Citizens Financial Group, Inc. (CFG).

Performance

WAL vs. CFG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Western Alliance Bancorporation (WAL) and Citizens Financial Group, Inc. (CFG). The values are adjusted to include any dividend payments, if applicable.

WAL vs. CFG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WAL Western Alliance Bancorporation	-15.33%	2.55%	29.67%	14.12%	-43.68%	81.72%	7.77%	45.90%	-30.25%	16.24%
CFG Citizens Financial Group, Inc.	3.39%	38.60%	38.01%	-11.01%	-13.37%	37.02%	-6.73%	41.84%	-27.44%	19.91%

Fundamentals

Market Cap WAL : $7.74B CFG : $26.12B
EPS WAL : $8.84 CFG : $4.20
PE Ratio WAL : 8.01 CFG : 14.27
PS Ratio WAL : 1.47 CFG : 2.34
PB Ratio WAL : 1.05 CFG : 1.08
Total Revenue (TTM) WAL : $5.29B CFG : $11.15B
Gross Profit (TTM) WAL : $3.24B CFG : $7.78B
EBITDA (TTM) WAL : $1.30B CFG : $2.69B

Returns By Period

In the year-to-date period, WAL achieves a -15.33% return, which is significantly lower than CFG's 3.39% return. Over the past 10 years, WAL has underperformed CFG with an annualized return of 9.14%, while CFG has yielded a comparatively higher 15.08% annualized return.

WAL

• 1D: 4.24%
• 1M: -11.79%
• YTD: -15.33%
• 6M: -17.49%
• 1Y: -6.00%
• 3Y*: 28.92%
• 5Y*: -3.59%
• 10Y*: 9.14%

CFG

• 1D: 4.39%
• 1M: -0.37%
• YTD: 3.39%
• 6M: 14.63%
• 1Y: 51.73%
• 3Y*: 31.22%
• 5Y*: 10.47%
• 10Y*: 15.08%

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

Return for Risk

WAL vs. CFG — Risk / Return Rank

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

WAL

WAL Risk / Return Rank: 35
WAL Sharpe Ratio Rank: 36
WAL Sortino Ratio Rank: 33
WAL Omega Ratio Rank: 33
WAL Calmar Ratio Rank: 37
WAL Martin Ratio Rank: 35

CFG

CFG Risk / Return Rank: 84
CFG Sharpe Ratio Rank: 86
CFG Sortino Ratio Rank: 79
CFG Omega Ratio Rank: 84
CFG Calmar Ratio Rank: 86
CFG Martin Ratio Rank: 86

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.

WAL vs. CFG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Western Alliance Bancorporation (WAL) and Citizens Financial Group, Inc. (CFG). 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.

	WAL	CFG	Difference
Sharpe ratio Return per unit of total volatility	-0.14	1.59	-1.72
Sortino ratio Return per unit of downside risk	0.11	2.03	-1.92
Omega ratio Gain probability vs. loss probability	1.02	1.31	-0.29
Calmar ratio Return relative to maximum drawdown	-0.17	2.97	-3.14
Martin ratio Return relative to average drawdown	-0.45	8.29	-8.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WAL vs. CFG - Sharpe Ratio Comparison

The current WAL Sharpe Ratio is -0.14, which is lower than the CFG Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of WAL and CFG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	WAL	CFG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.14	1.59	-1.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.06	0.31	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	0.40	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.34	-0.23

Correlation

The correlation between WAL and CFG is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

WAL vs. CFG - Dividend Comparison

WAL's dividend yield for the trailing twelve months is around 2.26%, less than CFG's 2.93% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WAL Western Alliance Bancorporation	2.26%	1.86%	1.78%	2.20%	2.38%	1.11%	1.67%	0.88%	0.00%	0.00%	0.00%	0.00%
CFG Citizens Financial Group, Inc.	2.93%	2.94%	3.84%	5.07%	4.11%	3.30%	4.36%	3.35%	3.30%	1.52%	1.29%	1.53%

Drawdowns

WAL vs. CFG - Drawdown Comparison

The maximum WAL drawdown since its inception was -92.14%, which is greater than CFG's maximum drawdown of -65.60%. Use the drawdown chart below to compare losses from any high point for WAL and CFG.

Drawdown Indicators

	WAL	CFG	Difference
Max Drawdown Largest peak-to-trough decline	-92.14%	-65.60%	-26.54%
Max Drawdown (1Y) Largest decline over 1 year	-30.26%	-18.32%	-11.94%
Max Drawdown (5Y) Largest decline over 5 years	-84.79%	-56.19%	-28.60%
Max Drawdown (10Y) Largest decline over 10 years	-84.79%	-65.60%	-19.19%
Current Drawdown Current decline from peak	-36.37%	-11.96%	-24.41%
Average Drawdown Average peak-to-trough decline	-38.58%	-18.12%	-20.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.31%	6.57%	+4.74%

Volatility

WAL vs. CFG - Volatility Comparison

Western Alliance Bancorporation (WAL) has a higher volatility of 12.63% compared to Citizens Financial Group, Inc. (CFG) at 8.03%. This indicates that WAL's price experiences larger fluctuations and is considered to be riskier than CFG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WAL	CFG	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.63%	8.03%	+4.60%
Volatility (6M) Calculated over the trailing 6-month period	30.69%	20.85%	+9.84%
Volatility (1Y) Calculated over the trailing 1-year period	44.09%	32.80%	+11.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.39%	34.14%	+26.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.26%	38.28%	+13.98%

Financials

WAL vs. CFG - Profitability Comparison

The chart below illustrates the profitability comparison between Western Alliance Bancorporation and Citizens Financial Group, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

WAL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Western Alliance Bancorporation reported a gross profit of 882.30M and revenue of 1.41B. Therefore, the gross margin over that period was 62.7%.

CFG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Citizens Financial Group, Inc. reported a gross profit of 2.16B and revenue of 2.16B. Therefore, the gross margin over that period was 100.0%.

WAL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Western Alliance Bancorporation reported an operating income of 355.70M and revenue of 1.41B, resulting in an operating margin of 25.3%.

CFG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Citizens Financial Group, Inc. reported an operating income of 677.00M and revenue of 2.16B, resulting in an operating margin of 31.4%.

WAL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Western Alliance Bancorporation reported a net income of 286.10M and revenue of 1.41B, resulting in a net margin of 20.3%.

CFG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Citizens Financial Group, Inc. reported a net income of 528.00M and revenue of 2.16B, resulting in a net margin of 24.5%.