CIA vs WLFC: Correlation
How closely do Citizens, Inc. (CIA) and Willis Lease Finance Corporation (WLFC) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIA and WLFC?
Over the past 3 years, CIA and WLFC moved with a correlation of 0.37, which is moderate. Recent behaviour matches the longer record: 0.32 over 1 year against 0.37 over 3. Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 1248.4 %².
WLFC is one of the assets that tracks CIA most closely: it ranks #2 out of the 10 assets we track against CIA. Their recent paths diverged sharply: over the last 12 months CIA outperformed by 35.2 percentage points (-28.1% for CIA against -63.3% for WLFC).
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 WLFC: side by side
| CIA (Citizens, Inc.) | WLFC (Willis Lease Finance Corporation) | |
|---|---|---|
| 1-year return | -28.1% | -63.3% |
| 5-year return | -33.4% | +47.2% |
| Volatility (ann.) | 55.3% | 61.3% |
| Beta vs S&P 500 | 0.92 | 1.30 |
| Max drawdown (3Y) | -47.5% | -77.4% |
| Market cap | $0.2B | $1.2B |
| P/E (trailing) | 17.8 | 13.8 |
| Dividend yield | 0.00% | 0.88% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIA | WLFC |
|---|---|---|
| 2022 | -59.9% | +56.7% |
| 2023 | +26.3% | -17.2% |
| 2024 | +49.1% | +327.3% |
| 2025 | +20.4% | -34.5% |
| 2026 | -18.8% | -59.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIA and WLFC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CIA and WLFC?
The CIA/WLFC correlation stands at 0.37 on a 3-year window (1 year: 0.32, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is WLFC a good diversifier for CIA?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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: CIA correlations · WLFC correlations
