CNA vs WRB: Correlation
CNA Financial Corporation (CNA) and W. R. Berkley Corporation (WRB) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNA and WRB?
On 3 years of weekly data the CNA/WRB correlation comes out at 0.67, strong. The relationship has been stable: the 1-year correlation (0.70) sits close to the 3-year figure. The 5-year figure is 0.64, and annualized covariance runs at 297.1 %².
By 3-year correlation, WRB places #6 of the 26 assets tracked against CNA. On 12-month performance CNA holds a 9.6-point edge, +7.6% against -2.0%.
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 WRB: side by side
| CNA (CNA Financial Corporation) | WRB (W. R. Berkley Corporation) | |
|---|---|---|
| 1-year return | +7.6% | -2.0% |
| 5-year return | +64.0% | +130.5% |
| Volatility (ann.) | 19.8% | 22.5% |
| Beta vs S&P 500 | 0.21 | 0.19 |
| Max drawdown (3Y) | -14.6% | -17.6% |
| Market cap | $13.2B | $25.4B |
| P/E (trailing) | 10.9 | 14.1 |
| Dividend yield | 3.80% | 0.54% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | CNA | WRB |
|---|---|---|
| 2022 | +3.8% | +33.9% |
| 2023 | +7.1% | +0.2% |
| 2024 | +24.0% | +27.2% |
| 2025 | +7.0% | +23.0% |
| 2026 | +10.1% | -1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNA and WRB good diversifiers for each other?
Only partially. A correlation of 0.67 means CNA and WRB 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 WRB?
The CNA/WRB correlation stands at 0.67 on a 3-year window (1 year: 0.70, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is WRB a good diversifier for CNA?
Only partially. A correlation of 0.67 means CNA and WRB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
A reading of 0.67 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: CNA correlations · WRB correlations
