AFL vs CNO: Correlation
How closely do Aflac (AFL) and CNO Financial Group, Inc. (CNO) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFL and CNO?
On 3 years of weekly data the AFL/CNO correlation comes out at 0.66, strong. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. The 5-year figure is 0.70, and annualized covariance runs at 284.3 %².
In AFL's tracked universe of 32 assets, CNO sits right near the top at #1. The last year tells two different stories: CNO led by 30.8 percentage points, +10.8% for AFL against +41.6% for CNO.
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 CNO: side by side
| AFL (Aflac) | CNO (CNO Financial Group, Inc.) | |
|---|---|---|
| 1-year return | +10.8% | +41.6% |
| 5-year return | +131.3% | +150.0% |
| Volatility (ann.) | 19.2% | 22.5% |
| Beta vs S&P 500 | 0.36 | 0.69 |
| Max drawdown (3Y) | -13.6% | -15.9% |
| Market cap | $58.4B | $5.1B |
| P/E (trailing) | 12.6 | 18.9 |
| Dividend yield | 2.03% | 1.26% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AFL | CNO |
|---|---|---|
| 2022 | +26.4% | -1.6% |
| 2023 | +17.4% | +25.1% |
| 2024 | +28.1% | +36.1% |
| 2025 | +8.9% | +16.1% |
| 2026 | +7.4% | +30.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFL and CNO good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AFL and CNO?
As of 2026-08-27, the correlation of weekly returns between AFL and CNO is 0.66 over 3 years, 0.61 over 1 year and 0.70 over 5 years.
Is CNO a good diversifier for AFL?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 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-cno.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/afl-vs-cno/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AFL correlations · CNO correlations
