CNA vs JRVR: Correlation
CNA Financial Corporation (CNA) and James River Group Holdings, Inc. (JRVR) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNA and JRVR?
Over the past 3 years, CNA and JRVR moved with a correlation of 0.49, which is moderate. The past 12 months show a tighter link (0.65) than the 3-year average (0.49). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 500.8 %².
Within CNA's tracked universe of 26 assets, JRVR comes in at #17 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CNA ahead by 34.0 points (+7.6% versus -26.4%). One caveat on sizing: JRVR is 2.6 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.
CNA vs JRVR: side by side
| CNA (CNA Financial Corporation) | JRVR (James River Group Holdings, Inc.) | |
|---|---|---|
| 1-year return | +7.6% | -26.4% |
| 5-year return | +64.0% | -88.2% |
| Volatility (ann.) | 19.8% | 51.3% |
| Beta vs S&P 500 | 0.21 | 0.55 |
| Max drawdown (3Y) | -14.6% | -77.1% |
| Market cap | $13.2B | $0.2B |
| P/E (trailing) | 10.9 | 9.4 |
| Dividend yield | 3.80% | 0.97% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNA | JRVR |
|---|---|---|
| 2022 | +3.8% | -26.8% |
| 2023 | +7.1% | -55.2% |
| 2024 | +24.0% | -46.2% |
| 2025 | +7.0% | +31.6% |
| 2026 | +10.1% | -35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNA and JRVR good diversifiers for each other?
Reasonably. At 0.49, CNA and JRVR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CNA and JRVR?
The CNA/JRVR correlation stands at 0.49 on a 3-year window (1 year: 0.65, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is JRVR a good diversifier for CNA?
Reasonably. At 0.49, CNA and JRVR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 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-jrvr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cna-vs-jrvr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNA correlations · JRVR correlations
