CNO vs OSG: Correlation
CNO Financial Group, Inc. (CNO) and Octave Specialty Group, Inc. (OSG) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNO and OSG?
On 3 years of weekly data the CNO/OSG correlation comes out at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.42 lands near the 3-year figure. The 5-year figure is 0.34, and annualized covariance runs at 484.7 %².
Within CNO's tracked universe of 25 assets, OSG comes in at #20 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CNO outperformed by 90.6 percentage points (+41.6% for CNO against -49.0% for OSG). Risk is not evenly split, since OSG carries 2.3 times the volatility of the other side.
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 OSG: side by side
| CNO (CNO Financial Group, Inc.) | OSG (Octave Specialty Group, Inc.) | |
|---|---|---|
| 1-year return | +41.6% | -49.0% |
| 5-year return | +150.0% | -68.2% |
| Volatility (ann.) | 22.5% | 51.8% |
| Beta vs S&P 500 | 0.69 | 0.86 |
| Max drawdown (3Y) | -15.9% | -78.5% |
| Market cap | $5.1B | $0.2B |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 1.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNO | OSG |
|---|---|---|
| 2022 | -1.6% | +8.7% |
| 2023 | +25.1% | -5.5% |
| 2024 | +36.1% | -23.2% |
| 2025 | +16.1% | -38.5% |
| 2026 | +30.9% | -42.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNO and OSG good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CNO and OSG?
As of 2026-08-27, the correlation of weekly returns between CNO and OSG is 0.42 over 3 years, 0.42 over 1 year and 0.34 over 5 years.
Is OSG a good diversifier for CNO?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
A reading of 0.42 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-osg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cno-vs-osg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNO correlations · OSG correlations
