CNO vs RGA: Correlation
Measured on weekly returns over the past three years, CNO Financial Group, Inc. (CNO) and Reinsurance Group of America, Incorporated (RGA) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNO and RGA?
On 3 years of weekly data the CNO/RGA correlation comes out at 0.61, strong. Recent behaviour matches the longer record: 0.63 over 1 year against 0.61 over 3. The 5-year figure is 0.55, and annualized covariance runs at 314.0 %².
By 3-year correlation, RGA places #10 of the 25 assets tracked against CNO. On 12-month performance CNO holds a 12.6-point edge, +41.6% against +29.0%.
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.
CNO vs RGA: side by side
| CNO (CNO Financial Group, Inc.) | RGA (Reinsurance Group of America, Incorporated) | |
|---|---|---|
| 1-year return | +41.6% | +29.0% |
| 5-year return | +150.0% | +136.6% |
| Volatility (ann.) | 22.5% | 23.0% |
| Beta vs S&P 500 | 0.69 | 0.60 |
| Max drawdown (3Y) | -15.9% | -27.1% |
| Market cap | $5.1B | $16.1B |
| P/E (trailing) | 18.9 | 10.9 |
| Dividend yield | 1.26% | 1.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNO | RGA |
|---|---|---|
| 2022 | -1.6% | +33.0% |
| 2023 | +25.1% | +16.4% |
| 2024 | +36.1% | +34.4% |
| 2025 | +16.1% | -3.0% |
| 2026 | +30.9% | +22.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNO and RGA good diversifiers for each other?
To a limited degree. At 0.61 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 RGA?
The CNO/RGA correlation stands at 0.61 on a 3-year window (1 year: 0.63, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is RGA a good diversifier for CNO?
To a limited degree. At 0.61 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 0.61 mean?
A reading of 0.61 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: CNO correlations · RGA correlations
