AFL vs L: Correlation
How closely do Aflac (AFL) and Loews Corporation (L) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFL and L?
On 3 years of weekly data the AFL/L correlation comes out at 0.65, strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. The 5-year figure is 0.70, and annualized covariance runs at 206.0 %².
Few assets follow AFL as closely as L, which ranks #2 of 32 tracked partners. Neither side won the trailing year by much: +10.8% against +14.2%. The rolling one-year correlation stayed in a tight band between 0.51 and 0.74 over the past three years, which points to a structural rather than episodic relationship.
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 L: side by side
| AFL (Aflac) | L (Loews Corporation) | |
|---|---|---|
| 1-year return | +10.8% | +14.2% |
| 5-year return | +131.3% | +100.1% |
| Volatility (ann.) | 19.2% | 16.6% |
| Beta vs S&P 500 | 0.36 | 0.33 |
| Max drawdown (3Y) | -13.6% | -12.2% |
| Market cap | $58.4B | $22.5B |
| P/E (trailing) | 12.6 | 13.5 |
| Dividend yield | 2.03% | 0.23% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | AFL | L |
|---|---|---|
| 2022 | +26.4% | +1.4% |
| 2023 | +17.4% | +19.8% |
| 2024 | +28.1% | +22.1% |
| 2025 | +8.9% | +24.7% |
| 2026 | +7.4% | +4.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFL and L good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AFL and L?
The AFL/L correlation stands at 0.65 on a 3-year window (1 year: 0.69, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is L a good diversifier for AFL?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 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-l.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/afl-vs-l/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AFL correlations · L correlations
