AFL vs RMCF: Correlation
Aflac (AFL) and Rocky Mountain Chocolate Factory, Inc. (RMCF) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFL and RMCF?
Over the past 3 years, AFL and RMCF moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.21). Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -282.2 %².
RMCF is close to the least connected end of AFL's tracked universe, ranking #28 of 32. Their recent paths diverged sharply: over the last 12 months AFL outperformed by 30.7 percentage points (+10.8% for AFL against -19.9% for RMCF). Risk is not evenly split, since RMCF carries 3.6 times the volatility of the other side.
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 RMCF: side by side
| AFL (Aflac) | RMCF (Rocky Mountain Chocolate Factory, Inc.) | |
|---|---|---|
| 1-year return | +10.8% | -19.9% |
| 5-year return | +131.3% | -84.3% |
| Volatility (ann.) | 19.2% | 68.5% |
| Beta vs S&P 500 | 0.36 | 0.77 |
| Max drawdown (3Y) | -13.6% | -87.0% |
| Market cap | $58.4B | – |
| P/E (trailing) | 12.6 | – |
| Dividend yield | 2.03% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AFL | RMCF |
|---|---|---|
| 2022 | +26.4% | -27.4% |
| 2023 | +17.4% | -19.3% |
| 2024 | +28.1% | -47.2% |
| 2025 | +8.9% | -21.8% |
| 2026 | +7.4% | -38.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFL and RMCF good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between AFL and RMCF?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.38 over the last year and -0.11 over 5 years.
Is RMCF a good diversifier for AFL?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 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-rmcf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/afl-vs-rmcf/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AFL correlations · RMCF correlations
