AFL vs GL: Correlation
How closely do Aflac (AFL) and Globe Life (GL) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFL and GL?
Across a 3-year window, the weekly returns of AFL and GL correlate at 0.48, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.48 over 3. Stretching to 5 years gives 0.53, with an annualized covariance of 327.5 %².
Within AFL's tracked universe of 32 assets, GL comes in at #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GL ahead by 15.3 points (+10.8% versus +26.1%). On a rolling one-year basis the correlation drifted between 0.43 and 0.73, a moderate band. One caveat on sizing: GL is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 GL: side by side
| AFL (Aflac) | GL (Globe Life) | |
|---|---|---|
| 1-year return | +10.8% | +26.1% |
| 5-year return | +131.3% | +91.0% |
| Volatility (ann.) | 19.2% | 35.7% |
| Beta vs S&P 500 | 0.36 | 0.60 |
| Max drawdown (3Y) | -13.6% | -61.6% |
| Market cap | $58.4B | $13.5B |
| P/E (trailing) | 12.6 | 11.7 |
| Dividend yield | 2.03% | 0.68% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | AFL | GL |
|---|---|---|
| 2022 | +26.4% | +29.7% |
| 2023 | +17.4% | +1.8% |
| 2024 | +28.1% | -7.5% |
| 2025 | +8.9% | +26.5% |
| 2026 | +7.4% | +26.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFL and GL good diversifiers for each other?
Reasonably. At 0.48, AFL and GL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AFL and GL?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.52 over the last year and 0.53 over 5 years.
Is GL a good diversifier for AFL?
Reasonably. At 0.48, AFL and GL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 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-gl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/afl-vs-gl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AFL correlations · GL correlations
