CIA vs CNO: Correlation
Citizens, Inc. (CIA) and CNO Financial Group, Inc. (CNO) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIA and CNO?
Across a 3-year window, the weekly returns of CIA and CNO correlate at 0.41, moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. Stretching to 5 years gives 0.27, with an annualized covariance of 506.8 %².
Few assets follow CIA as closely as CNO, which ranks #1 of 10 tracked partners. The last year tells two different stories: CNO led by 69.7 percentage points, -28.1% for CIA against +41.6% for CNO. One caveat on sizing: CIA is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CIA vs CNO: side by side
| CIA (Citizens, Inc.) | CNO (CNO Financial Group, Inc.) | |
|---|---|---|
| 1-year return | -28.1% | +41.6% |
| 5-year return | -33.4% | +150.0% |
| Volatility (ann.) | 55.3% | 22.5% |
| Beta vs S&P 500 | 0.92 | 0.69 |
| Max drawdown (3Y) | -47.5% | -15.9% |
| Market cap | $0.2B | $5.1B |
| P/E (trailing) | 17.8 | 18.9 |
| Dividend yield | 0.00% | 1.26% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIA | CNO |
|---|---|---|
| 2022 | -59.9% | -1.6% |
| 2023 | +26.3% | +25.1% |
| 2024 | +49.1% | +36.1% |
| 2025 | +20.4% | +16.1% |
| 2026 | -18.8% | +30.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIA and CNO good diversifiers for each other?
Reasonably. At 0.41, CIA and CNO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CIA and CNO?
As of 2026-08-27, the correlation of weekly returns between CIA and CNO is 0.41 over 3 years, 0.36 over 1 year and 0.27 over 5 years.
Is CNO a good diversifier for CIA?
Reasonably. At 0.41, CIA and CNO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/cia-vs-cno.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cia-vs-cno/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CIA correlations · CNO correlations
