CINF vs WTM: Correlation
Measured on weekly returns over the past three years, Cincinnati Financial (CINF) and White Mountains Insurance Group, Ltd. (WTM) 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 CINF and WTM?
Over the past 3 years, CINF and WTM moved with a correlation of 0.45, which is moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 202.7 %².
Among the 49 assets we track against CINF, WTM ranks #36 by 3-year correlation. Neither side won the trailing year by much: +14.5% against +15.3%.
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 WTM: side by side
| CINF (Cincinnati Financial) | WTM (White Mountains Insurance Group, Ltd.) | |
|---|---|---|
| 1-year return | +14.5% | +15.3% |
| 5-year return | +58.8% | +90.5% |
| Volatility (ann.) | 21.6% | 20.6% |
| Beta vs S&P 500 | 0.36 | 0.23 |
| Max drawdown (3Y) | -20.0% | -18.0% |
| Market cap | $26.5B | $5.1B |
| P/E (trailing) | 8.1 | 4.9 |
| Dividend yield | 2.10% | 0.05% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CINF | WTM |
|---|---|---|
| 2022 | -7.9% | +39.6% |
| 2023 | +4.0% | +6.5% |
| 2024 | +42.5% | +29.3% |
| 2025 | +16.3% | +6.9% |
| 2026 | +6.8% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CINF and WTM good diversifiers for each other?
Reasonably. At 0.45, CINF and WTM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CINF and WTM?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.46 over the last year and 0.34 over 5 years.
Is WTM a good diversifier for CINF?
Reasonably. At 0.45, CINF and WTM 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: CINF correlations · WTM correlations
