BWIN vs PRAA: Correlation
Measured on weekly returns over the past three years, The Baldwin Insurance Group, Inc. (BWIN) and PRA Group, Inc. (PRAA) 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 BWIN and PRAA?
Over the past 3 years, BWIN and PRAA moved with a correlation of 0.47, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.64 versus 0.47 over 3 years. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 1593.1 %².
Few assets follow BWIN as closely as PRAA, which ranks #3 of 11 tracked partners. The last year tells two different stories: PRAA led by 18.9 percentage points, -6.0% for BWIN against +12.9% for PRAA.
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.
BWIN vs PRAA: side by side
| BWIN (The Baldwin Insurance Group, Inc.) | PRAA (PRA Group, Inc.) | |
|---|---|---|
| 1-year return | -6.0% | +12.9% |
| 5-year return | -13.5% | -53.3% |
| Volatility (ann.) | 54.6% | 62.0% |
| Beta vs S&P 500 | 0.60 | 1.15 |
| Max drawdown (3Y) | -70.2% | -62.8% |
| Market cap | $2.9B | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWIN | PRAA |
|---|---|---|
| 2022 | -30.4% | -32.7% |
| 2023 | -4.5% | -22.4% |
| 2024 | +61.4% | -20.3% |
| 2025 | -38.0% | -15.3% |
| 2026 | +25.5% | +9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWIN and PRAA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BWIN and PRAA?
The BWIN/PRAA correlation stands at 0.47 on a 3-year window (1 year: 0.64, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is PRAA a good diversifier for BWIN?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
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.
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Related comparisons
Hubs: BWIN correlations · PRAA correlations
