AFL vs ALL: Correlation
How closely do Aflac (AFL) and Allstate (ALL) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFL and ALL?
Across a 3-year window, the weekly returns of AFL and ALL correlate at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 245.1 %².
Among the 32 assets we track against AFL, ALL ranks #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ALL ahead by 18.1 points (+10.8% versus +28.9%). Across three years, the rolling one-year figure varied moderately, from 0.36 to 0.71.
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.
AFL vs ALL: side by side
| AFL (Aflac) | ALL (Allstate) | |
|---|---|---|
| 1-year return | +10.8% | +28.9% |
| 5-year return | +131.3% | +114.7% |
| Volatility (ann.) | 19.2% | 22.1% |
| Beta vs S&P 500 | 0.36 | 0.31 |
| Max drawdown (3Y) | -13.6% | -14.1% |
| Market cap | $58.4B | $65.1B |
| P/E (trailing) | 12.6 | 5.2 |
| Dividend yield | 2.03% | 1.59% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | AFL | ALL |
|---|---|---|
| 2022 | +26.4% | +18.4% |
| 2023 | +17.4% | +6.4% |
| 2024 | +28.1% | +40.6% |
| 2025 | +8.9% | +10.1% |
| 2026 | +7.4% | +25.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFL and ALL good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AFL and ALL?
As of 2026-08-27, the correlation of weekly returns between AFL and ALL is 0.58 over 3 years, 0.58 over 1 year and 0.57 over 5 years.
Is ALL a good diversifier for AFL?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: AFL correlations · ALL correlations
