CNA vs HIG: Correlation
Measured on weekly returns over the past three years, CNA Financial Corporation (CNA) and Hartford (The) (HIG) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNA and HIG?
On 3 years of weekly data the CNA/HIG correlation comes out at 0.70, strong. The relationship has been stable: the 1-year correlation (0.71) sits close to the 3-year figure. The 5-year figure is 0.71, and annualized covariance runs at 269.1 %².
In CNA's tracked universe of 26 assets, HIG sits right near the top at #3. Neither side won the trailing year by much: +7.6% against +5.4%.
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.
CNA vs HIG: side by side
| CNA (CNA Financial Corporation) | HIG (Hartford (The)) | |
|---|---|---|
| 1-year return | +7.6% | +5.4% |
| 5-year return | +64.0% | +127.4% |
| Volatility (ann.) | 19.8% | 19.5% |
| Beta vs S&P 500 | 0.21 | 0.39 |
| Max drawdown (3Y) | -14.6% | -13.7% |
| Market cap | $13.2B | $37.3B |
| P/E (trailing) | 10.9 | 9.7 |
| Dividend yield | 3.80% | 1.66% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | CNA | HIG |
|---|---|---|
| 2022 | +3.8% | +12.3% |
| 2023 | +7.1% | +8.5% |
| 2024 | +24.0% | +38.5% |
| 2025 | +7.0% | +28.1% |
| 2026 | +10.1% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNA and HIG good diversifiers for each other?
Only partially. A correlation of 0.70 means CNA and HIG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CNA and HIG?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.71 over the last year and 0.71 over 5 years.
Is HIG a good diversifier for CNA?
Only partially. A correlation of 0.70 means CNA and HIG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 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/cna-vs-hig.json
Markdown for the live badge, attribution link included:
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Related comparisons
Hubs: CNA correlations · HIG correlations
