CHGG vs LEG: Correlation
Measured on weekly returns over the past three years, Chegg, Inc. (CHGG) and Leggett & Platt, Incorporated (LEG) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHGG and LEG?
On 3 years of weekly data the CHGG/LEG correlation comes out at 0.45, moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.45 over 3. The 5-year figure is 0.41, and annualized covariance runs at 2132.5 %².
Few assets follow CHGG as closely as LEG, which ranks #3 of 10 tracked partners. Correlation aside, the last 12 months split them widely, with LEG ahead by 52.0 points (-39.3% versus +12.7%). Risk is not evenly split, since CHGG carries 2.0 times the volatility of the other side.
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.
CHGG vs LEG: side by side
| CHGG (Chegg, Inc.) | LEG (Leggett & Platt, Incorporated) | |
|---|---|---|
| 1-year return | -39.3% | +12.7% |
| 5-year return | -99.0% | -72.6% |
| Volatility (ann.) | 97.4% | 48.5% |
| Beta vs S&P 500 | 1.77 | 1.29 |
| Max drawdown (3Y) | -96.1% | -76.8% |
| Market cap | $0.1B | $1.3B |
| P/E (trailing) | – | 5.9 |
| Dividend yield | 0.00% | 2.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHGG | LEG |
|---|---|---|
| 2022 | -17.7% | -17.8% |
| 2023 | -55.0% | -13.5% |
| 2024 | -85.8% | -61.9% |
| 2025 | -42.2% | +17.0% |
| 2026 | -13.8% | +1.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHGG and LEG good diversifiers for each other?
Reasonably. At 0.45, CHGG and LEG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CHGG and LEG?
As of 2026-08-27, the correlation of weekly returns between CHGG and LEG is 0.45 over 3 years, 0.45 over 1 year and 0.41 over 5 years.
Is LEG a good diversifier for CHGG?
Reasonably. At 0.45, CHGG and LEG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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: CHGG correlations · LEG correlations
