AFL vs CB: Correlation
How closely do Aflac (AFL) and Chubb Limited (CB) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFL and CB?
Over the past 3 years, AFL and CB moved with a correlation of 0.59, which is moderate. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 200.8 %².
Within AFL's tracked universe of 32 assets, CB comes in at #13 by 3-year correlation. On 12-month performance CB holds a 13.9-point edge, +10.8% against +24.7%. The rolling one-year correlation moved between 0.30 and 0.70 over the past three years, a moderate range.
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 CB: side by side
| AFL (Aflac) | CB (Chubb Limited) | |
|---|---|---|
| 1-year return | +10.8% | +24.7% |
| 5-year return | +131.3% | +96.8% |
| Volatility (ann.) | 19.2% | 17.7% |
| Beta vs S&P 500 | 0.36 | 0.17 |
| Max drawdown (3Y) | -13.6% | -14.4% |
| Market cap | $58.4B | $130.5B |
| P/E (trailing) | 12.6 | 12.2 |
| Dividend yield | 2.03% | 1.14% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | AFL | CB |
|---|---|---|
| 2022 | +26.4% | +16.0% |
| 2023 | +17.4% | +4.2% |
| 2024 | +28.1% | +23.9% |
| 2025 | +8.9% | +13.7% |
| 2026 | +7.4% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFL and CB good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AFL and CB?
As of 2026-08-27, the correlation of weekly returns between AFL and CB is 0.59 over 3 years, 0.63 over 1 year and 0.60 over 5 years.
Is CB a good diversifier for AFL?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/afl-vs-cb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/afl-vs-cb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AFL correlations · CB correlations
