CB vs THG: Correlation
Chubb Limited (CB) and Hanover Insurance Group Inc (THG) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CB and THG?
On 3 years of weekly data the CB/THG correlation comes out at 0.63, strong. Recent behaviour matches the longer record: 0.67 over 1 year against 0.63 over 3. The 5-year figure is 0.59, and annualized covariance runs at 244.6 %².
Among the 37 assets we track against CB, THG ranks #9 by 3-year correlation. The trailing year gives THG the advantage: +24.7% versus +33.1%, a 8.4-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.
CB vs THG: side by side
| CB (Chubb Limited) | THG (Hanover Insurance Group Inc) | |
|---|---|---|
| 1-year return | +24.7% | +33.1% |
| 5-year return | +96.8% | +81.9% |
| Volatility (ann.) | 17.7% | 21.9% |
| Beta vs S&P 500 | 0.17 | 0.24 |
| Max drawdown (3Y) | -14.4% | -14.0% |
| Market cap | $130.5B | $7.9B |
| P/E (trailing) | 12.2 | 10.9 |
| Dividend yield | 1.14% | 1.64% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CB | THG |
|---|---|---|
| 2022 | +16.0% | +5.4% |
| 2023 | +4.2% | -7.6% |
| 2024 | +23.9% | +30.6% |
| 2025 | +13.7% | +20.7% |
| 2026 | +9.1% | +25.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CB and THG good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CB and THG?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.67 over the last year and 0.59 over 5 years.
Is THG a good diversifier for CB?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/cb-vs-thg.json
Markdown for the live badge, attribution link included:
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CB correlations · THG correlations
