CME vs DGICB: Correlation
Measured on weekly returns over the past three years, CME Group (CME) and Donegal Group, Inc. (DGICB) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CME and DGICB?
On 3 years of weekly data the CME/DGICB correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.24 over 3. The 5-year figure is -0.15, and annualized covariance runs at -195.3 %².
By 3-year correlation, DGICB places #35 of the 47 assets tracked against CME. Their recent paths diverged sharply: over the last 12 months DGICB outperformed by 60.2 percentage points (+8.1% for CME against +68.3% for DGICB). One caveat on sizing: DGICB is 2.1 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.
CME vs DGICB: side by side
| CME (CME Group) | DGICB (Donegal Group, Inc.) | |
|---|---|---|
| 1-year return | +8.1% | +68.3% |
| 5-year return | +73.9% | +82.3% |
| Volatility (ann.) | 20.0% | 41.5% |
| Beta vs S&P 500 | 0.12 | 0.15 |
| Max drawdown (3Y) | -31.1% | -30.3% |
| Market cap | $101.0B | $0.9B |
| P/E (trailing) | 23.8 | 12.1 |
| Dividend yield | 1.82% | 3.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CME | DGICB |
|---|---|---|
| 2022 | -22.9% | +25.8% |
| 2023 | +31.3% | -6.8% |
| 2024 | +15.4% | +1.6% |
| 2025 | +19.8% | +30.8% |
| 2026 | +5.9% | +34.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CME and DGICB good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between CME and DGICB?
As of 2026-08-27, the correlation of weekly returns between CME and DGICB is -0.24 over 3 years, -0.32 over 1 year and -0.15 over 5 years.
Is DGICB a good diversifier for CME?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/cme-vs-dgicb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cme-vs-dgicb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CME correlations · DGICB correlations
