AFG vs ALL: Correlation
Measured on weekly returns over the past three years, American Financial Group, Inc. (AFG) and Allstate (ALL) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFG and ALL?
Over the past 3 years, AFG and ALL moved with a correlation of 0.59, which is moderate. Recent behaviour matches the longer record: 0.59 over 1 year against 0.59 over 3. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 253.5 %².
Among the 19 assets we track against AFG, ALL ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ALL outperformed by 18.5 percentage points (+10.4% for AFG against +28.9% for ALL).
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.
AFG vs ALL: side by side
| AFG (American Financial Group, Inc.) | ALL (Allstate) | |
|---|---|---|
| 1-year return | +10.4% | +28.9% |
| 5-year return | +56.7% | +114.7% |
| Volatility (ann.) | 19.5% | 22.1% |
| Beta vs S&P 500 | 0.43 | 0.31 |
| Max drawdown (3Y) | -19.8% | -14.1% |
| Market cap | $11.8B | $65.1B |
| P/E (trailing) | 12.7 | 5.2 |
| Dividend yield | 2.43% | 1.59% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | AFG | ALL |
|---|---|---|
| 2022 | +10.9% | +18.4% |
| 2023 | -7.6% | +6.4% |
| 2024 | +23.8% | +40.6% |
| 2025 | +5.4% | +10.1% |
| 2026 | +7.7% | +25.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFG and ALL good diversifiers for each other?
To a limited degree. At 0.59 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 AFG and ALL?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.59 over the last year and 0.59 over 5 years.
Is ALL a good diversifier for AFG?
To a limited degree. At 0.59 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 0.59 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: AFG correlations · ALL correlations
