CNO vs EIG: Correlation
How closely do CNO Financial Group, Inc. (CNO) and Employers Holdings Inc (EIG) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNO and EIG?
Across a 3-year window, the weekly returns of CNO and EIG correlate at 0.57, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.41 versus 0.57 over 3 years. Stretching to 5 years gives 0.49, with an annualized covariance of 295.4 %².
By 3-year correlation, EIG places #15 of the 25 assets tracked against CNO. Correlation aside, the last 12 months split them widely, with CNO ahead by 24.9 points (+41.6% versus +16.7%).
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 EIG: side by side
| CNO (CNO Financial Group, Inc.) | EIG (Employers Holdings Inc) | |
|---|---|---|
| 1-year return | +41.6% | +16.7% |
| 5-year return | +150.0% | +43.2% |
| Volatility (ann.) | 22.5% | 22.8% |
| Beta vs S&P 500 | 0.69 | 0.32 |
| Max drawdown (3Y) | -15.9% | -31.3% |
| Market cap | $5.1B | $0.9B |
| P/E (trailing) | 18.9 | 62.1 |
| Dividend yield | 1.26% | 2.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNO | EIG |
|---|---|---|
| 2022 | -1.6% | +12.6% |
| 2023 | +25.1% | -6.1% |
| 2024 | +36.1% | +33.4% |
| 2025 | +16.1% | -13.3% |
| 2026 | +30.9% | +16.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNO and EIG good diversifiers for each other?
Only partially. A correlation of 0.57 means CNO and EIG 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 CNO and EIG?
As of 2026-08-27, the correlation of weekly returns between CNO and EIG is 0.57 over 3 years, 0.41 over 1 year and 0.49 over 5 years.
Is EIG a good diversifier for CNO?
Only partially. A correlation of 0.57 means CNO and EIG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 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/cno-vs-eig.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cno-vs-eig/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNO correlations · EIG correlations
