BRK.B vs L: Correlation
Measured on weekly returns over the past three years, Berkshire Hathaway (BRK.B) and Loews Corporation (L) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRK.B and L?
On 3 years of weekly data the BRK.B/L correlation comes out at 0.64, strong. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. The 5-year figure is 0.70, and annualized covariance runs at 170.1 %².
L is one of the assets that tracks BRK.B most closely: it ranks #3 out of the 31 assets we track against BRK.B. Over the last 12 months L came out ahead by 12.6 percentage points (+1.6% against +14.2%). On a rolling one-year basis the correlation drifted between 0.50 and 0.80, a moderate band.
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.
BRK.B vs L: side by side
| BRK.B (Berkshire Hathaway) | L (Loews Corporation) | |
|---|---|---|
| 1-year return | +1.6% | +14.2% |
| 5-year return | +76.3% | +100.1% |
| Volatility (ann.) | 15.9% | 16.6% |
| Beta vs S&P 500 | 0.43 | 0.33 |
| Max drawdown (3Y) | -14.9% | -12.2% |
| Market cap | $1,078.3B | $22.5B |
| P/E (trailing) | 12.7 | 13.5 |
| Dividend yield | 0.00% | 0.23% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | BRK.B | L |
|---|---|---|
| 2022 | +3.3% | +1.4% |
| 2023 | +15.5% | +19.8% |
| 2024 | +27.1% | +22.1% |
| 2025 | +10.9% | +24.7% |
| 2026 | +0.2% | +4.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRK.B and L good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BRK.B and L?
The BRK.B/L correlation stands at 0.64 on a 3-year window (1 year: 0.58, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is L a good diversifier for BRK.B?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 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/brk-b-vs-l.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/brk-b-vs-l/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BRK.B correlations · L correlations
