AON vs CNA: Correlation
Measured on weekly returns over the past three years, Aon plc (AON) and CNA Financial Corporation (CNA) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AON and CNA?
Over the past 3 years, AON and CNA moved with a correlation of 0.47, which is moderate. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 201.7 %².
Within AON's tracked universe of 32 assets, CNA comes in at #14 by 3-year correlation. The trailing year gives CNA the advantage: -4.6% versus +7.6%, a 12.2-point spread.
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.
AON vs CNA: side by side
| AON (Aon plc) | CNA (CNA Financial Corporation) | |
|---|---|---|
| 1-year return | -4.6% | +7.6% |
| 5-year return | +27.0% | +64.0% |
| Volatility (ann.) | 21.7% | 19.8% |
| Beta vs S&P 500 | 0.34 | 0.21 |
| Max drawdown (3Y) | -24.2% | -14.6% |
| Market cap | $74.2B | $13.2B |
| P/E (trailing) | 19.5 | 10.9 |
| Dividend yield | 0.86% | 3.80% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AON | CNA |
|---|---|---|
| 2022 | +0.6% | +3.8% |
| 2023 | -2.3% | +7.1% |
| 2024 | +24.5% | +24.0% |
| 2025 | -1.2% | +7.0% |
| 2026 | -0.5% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AON and CNA good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AON and CNA?
As of 2026-08-27, the correlation of weekly returns between AON and CNA is 0.47 over 3 years, 0.54 over 1 year and 0.41 over 5 years.
Is CNA a good diversifier for AON?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aon-vs-cna.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aon-vs-cna/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AON correlations · CNA correlations
