CIA vs UAL: Correlation
Citizens, Inc. (CIA) and United Airlines Holdings (UAL) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIA and UAL?
On 3 years of weekly data the CIA/UAL correlation comes out at 0.36, moderate. Recent behaviour matches the longer record: 0.31 over 1 year against 0.36 over 3. The 5-year figure is 0.27, and annualized covariance runs at 921.7 %².
By 3-year correlation, UAL places #4 of the 10 assets tracked against CIA. Their recent paths diverged sharply: over the last 12 months UAL outperformed by 35.9 percentage points (-28.1% for CIA against +7.8% for UAL).
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 UAL: side by side
| CIA (Citizens, Inc.) | UAL (United Airlines Holdings) | |
|---|---|---|
| 1-year return | -28.1% | +7.8% |
| 5-year return | -33.4% | +144.8% |
| Volatility (ann.) | 55.3% | 46.6% |
| Beta vs S&P 500 | 0.92 | 1.33 |
| Max drawdown (3Y) | -47.5% | -49.2% |
| Market cap | $0.2B | $36.5B |
| P/E (trailing) | 17.8 | 10.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CIA | UAL |
|---|---|---|
| 2022 | -59.9% | -13.9% |
| 2023 | +26.3% | +9.4% |
| 2024 | +49.1% | +135.3% |
| 2025 | +20.4% | +15.2% |
| 2026 | -18.8% | +0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIA and UAL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CIA and UAL?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.31 over the last year and 0.27 over 5 years.
Is UAL a good diversifier for CIA?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 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/cia-vs-ual.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cia-vs-ual/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CIA correlations · UAL correlations
