CNO vs GLRE: Correlation
Measured on weekly returns over the past three years, CNO Financial Group, Inc. (CNO) and Greenlight Reinsurance, Ltd. - Class A (GLRE) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNO and GLRE?
On 3 years of weekly data the CNO/GLRE correlation comes out at 0.51, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.24 versus 0.51 over 3 years. The 5-year figure is 0.39, and annualized covariance runs at 274.4 %².
By 3-year correlation, GLRE places #16 of the 25 assets tracked against CNO. Correlation aside, the last 12 months split them widely, with CNO ahead by 23.0 points (+41.6% versus +18.6%).
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 GLRE: side by side
| CNO (CNO Financial Group, Inc.) | GLRE (Greenlight Reinsurance, Ltd. - Class A) | |
|---|---|---|
| 1-year return | +41.6% | +18.6% |
| 5-year return | +150.0% | +84.1% |
| Volatility (ann.) | 22.5% | 24.0% |
| Beta vs S&P 500 | 0.69 | 0.33 |
| Max drawdown (3Y) | -15.9% | -22.8% |
| Market cap | $5.1B | $0.5B |
| P/E (trailing) | 18.9 | 10.4 |
| Dividend yield | 1.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNO | GLRE |
|---|---|---|
| 2022 | -1.6% | +4.0% |
| 2023 | +25.1% | +40.1% |
| 2024 | +36.1% | +22.6% |
| 2025 | +16.1% | +4.1% |
| 2026 | +30.9% | +5.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNO and GLRE good diversifiers for each other?
Only partially. A correlation of 0.51 means CNO and GLRE 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 GLRE?
As of 2026-08-27, the correlation of weekly returns between CNO and GLRE is 0.51 over 3 years, 0.24 over 1 year and 0.39 over 5 years.
Is GLRE a good diversifier for CNO?
Only partially. A correlation of 0.51 means CNO and GLRE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
A reading of 0.51 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
$ curl https://www.pairbook.io/api/v1/pairs/cno-vs-glre.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cno-vs-glre/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNO correlations · GLRE correlations
