CINF vs SKWD: Correlation
How closely do Cincinnati Financial (CINF) and Skyward Specialty Insurance Group, Inc. (SKWD) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CINF and SKWD?
On 3 years of weekly data the CINF/SKWD correlation comes out at 0.56, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.56 over 3. The 5-year figure is n/a, and annualized covariance runs at 422.3 %².
Among the 49 assets we track against CINF, SKWD ranks #22 by 3-year correlation. Twelve-month performance is nearly a tie, at +14.5% for CINF and +18.5% for SKWD. Risk is not evenly split, since SKWD carries 1.6 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.
CINF vs SKWD: side by side
| CINF (Cincinnati Financial) | SKWD (Skyward Specialty Insurance Group, Inc.) | |
|---|---|---|
| 1-year return | +14.5% | +18.5% |
| 5-year return | +58.8% | n/a |
| Volatility (ann.) | 21.6% | 34.9% |
| Beta vs S&P 500 | 0.36 | 0.31 |
| Max drawdown (3Y) | -20.0% | -36.5% |
| Market cap | $26.5B | $2.3B |
| P/E (trailing) | 8.1 | 13.4 |
| Dividend yield | 2.10% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CINF | SKWD |
|---|---|---|
| 2022 | -7.9% | – |
| 2023 | +4.0% | – |
| 2024 | +42.5% | +49.2% |
| 2025 | +16.3% | +1.1% |
| 2026 | +6.8% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CINF and SKWD good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CINF and SKWD?
The CINF/SKWD correlation stands at 0.56 on a 3-year window (1 year: 0.51, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SKWD a good diversifier for CINF?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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/cinf-vs-skwd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cinf-vs-skwd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CINF correlations · SKWD correlations
