CNO vs CPF: Correlation
Measured on weekly returns over the past three years, CNO Financial Group, Inc. (CNO) and Central Pacific Financial Corp New (CPF) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNO and CPF?
Across a 3-year window, the weekly returns of CNO and CPF correlate at 0.71, strong. The relationship has been stable: the 1-year correlation (0.68) sits close to the 3-year figure. Stretching to 5 years gives 0.62, with an annualized covariance of 422.1 %².
In CNO's tracked universe of 25 assets, CPF sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months CNO outperformed by 17.2 percentage points (+41.6% for CNO against +24.4% for CPF).
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.
CNO vs CPF: side by side
| CNO (CNO Financial Group, Inc.) | CPF (Central Pacific Financial Corp New) | |
|---|---|---|
| 1-year return | +41.6% | +24.4% |
| 5-year return | +150.0% | +85.5% |
| Volatility (ann.) | 22.5% | 26.5% |
| Beta vs S&P 500 | 0.69 | 0.84 |
| Max drawdown (3Y) | -15.9% | -25.2% |
| Market cap | $5.1B | $1.0B |
| P/E (trailing) | 18.9 | 12.2 |
| Dividend yield | 1.26% | 2.97% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNO | CPF |
|---|---|---|
| 2022 | -1.6% | -24.7% |
| 2023 | +25.1% | +2.9% |
| 2024 | +36.1% | +54.3% |
| 2025 | +16.1% | +11.3% |
| 2026 | +30.9% | +23.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNO and CPF good diversifiers for each other?
To a limited degree. At 0.71 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 CNO and CPF?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.68 over the last year and 0.62 over 5 years.
Is CPF a good diversifier for CNO?
To a limited degree. At 0.71 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 0.71 mean?
On the −1 to +1 scale, 0.71 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/cno-vs-cpf.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cno-vs-cpf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNO correlations · CPF correlations
