CNA vs L: Correlation
CNA Financial Corporation (CNA) and Loews Corporation (L) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNA and L?
On 3 years of weekly data the CNA/L correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.87 lands near the 3-year figure. The 5-year figure is 0.82, and annualized covariance runs at 261.9 %².
L is one of the assets that tracks CNA most closely: it ranks #1 out of the 26 assets we track against CNA. On 12-month performance L holds a 6.6-point edge, +7.6% against +14.2%.
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 L: side by side
| CNA (CNA Financial Corporation) | L (Loews Corporation) | |
|---|---|---|
| 1-year return | +7.6% | +14.2% |
| 5-year return | +64.0% | +100.1% |
| Volatility (ann.) | 19.8% | 16.6% |
| Beta vs S&P 500 | 0.21 | 0.33 |
| Max drawdown (3Y) | -14.6% | -12.2% |
| Market cap | $13.2B | $22.5B |
| P/E (trailing) | 10.9 | 13.5 |
| Dividend yield | 3.80% | 0.23% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | CNA | L |
|---|---|---|
| 2022 | +3.8% | +1.4% |
| 2023 | +7.1% | +19.8% |
| 2024 | +24.0% | +22.1% |
| 2025 | +7.0% | +24.7% |
| 2026 | +10.1% | +4.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNA and L good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between CNA and L?
As of 2026-08-27, the correlation of weekly returns between CNA and L is 0.80 over 3 years, 0.87 over 1 year and 0.82 over 5 years.
Is L a good diversifier for CNA?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 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-l.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cna-vs-l/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNA correlations · L correlations
