ALL vs L: Correlation
How closely do Allstate (ALL) and Loews Corporation (L) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALL and L?
Over the past 3 years, ALL and L moved with a correlation of 0.70, which is strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 256.0 %².
Few assets follow ALL as closely as L, which ranks #1 of 32 tracked partners. On 12-month performance ALL holds a 14.7-point edge, +28.9% against +14.2%. Across three years, the rolling one-year figure varied moderately, from 0.49 to 0.81.
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.
ALL vs L: side by side
| ALL (Allstate) | L (Loews Corporation) | |
|---|---|---|
| 1-year return | +28.9% | +14.2% |
| 5-year return | +114.7% | +100.1% |
| Volatility (ann.) | 22.1% | 16.6% |
| Beta vs S&P 500 | 0.31 | 0.33 |
| Max drawdown (3Y) | -14.1% | -12.2% |
| Market cap | $65.1B | $22.5B |
| P/E (trailing) | 5.2 | 13.5 |
| Dividend yield | 1.59% | 0.23% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | ALL | L |
|---|---|---|
| 2022 | +18.4% | +1.4% |
| 2023 | +6.4% | +19.8% |
| 2024 | +40.6% | +22.1% |
| 2025 | +10.1% | +24.7% |
| 2026 | +25.0% | +4.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALL and L good diversifiers for each other?
Only partially. A correlation of 0.70 means ALL and L share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ALL and L?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.71 over the last year and 0.63 over 5 years.
Is L a good diversifier for ALL?
Only partially. A correlation of 0.70 means ALL and L share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
A reading of 0.70 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/all-vs-l.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/all-vs-l/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALL correlations · L correlations
