CNA vs HMN: Correlation
CNA Financial Corporation (CNA) and Horace Mann Educators Corporation (HMN) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNA and HMN?
On 3 years of weekly data the CNA/HMN correlation comes out at 0.60, strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.60 over 3. The 5-year figure is 0.57, and annualized covariance runs at 238.9 %².
Within CNA's tracked universe of 26 assets, HMN comes in at #11 by 3-year correlation. On 12-month performance HMN holds a 8.3-point edge, +7.6% against +15.9%.
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 HMN: side by side
| CNA (CNA Financial Corporation) | HMN (Horace Mann Educators Corporation) | |
|---|---|---|
| 1-year return | +7.6% | +15.9% |
| 5-year return | +64.0% | +48.6% |
| Volatility (ann.) | 19.8% | 20.0% |
| Beta vs S&P 500 | 0.21 | 0.26 |
| Max drawdown (3Y) | -14.6% | -17.1% |
| Market cap | $13.2B | $2.1B |
| P/E (trailing) | 10.9 | 12.0 |
| Dividend yield | 3.80% | 2.76% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNA | HMN |
|---|---|---|
| 2022 | +3.8% | -0.1% |
| 2023 | +7.1% | -8.8% |
| 2024 | +24.0% | +24.6% |
| 2025 | +7.0% | +21.5% |
| 2026 | +10.1% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNA and HMN good diversifiers for each other?
To a limited degree. At 0.60 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 CNA and HMN?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.68 over the last year and 0.57 over 5 years.
Is HMN a good diversifier for CNA?
To a limited degree. At 0.60 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 0.60 mean?
On the −1 to +1 scale, 0.60 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/cna-vs-hmn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cna-vs-hmn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNA correlations · HMN correlations
