CNO vs UNM: Correlation
How closely do CNO Financial Group, Inc. (CNO) and Unum Group (UNM) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNO and UNM?
Over the past 3 years, CNO and UNM moved with a correlation of 0.59, which is moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.59 over 3. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 314.1 %².
Within CNO's tracked universe of 25 assets, UNM comes in at #13 by 3-year correlation. The trailing year gives CNO the advantage: +41.6% versus +36.2%, a 5.4-point spread.
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 UNM: side by side
| CNO (CNO Financial Group, Inc.) | UNM (Unum Group) | |
|---|---|---|
| 1-year return | +41.6% | +36.2% |
| 5-year return | +150.0% | +305.6% |
| Volatility (ann.) | 22.5% | 23.8% |
| Beta vs S&P 500 | 0.69 | 0.49 |
| Max drawdown (3Y) | -15.9% | -17.9% |
| Market cap | $5.1B | $14.6B |
| P/E (trailing) | 18.9 | 21.3 |
| Dividend yield | 1.26% | 2.06% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNO | UNM |
|---|---|---|
| 2022 | -1.6% | +73.6% |
| 2023 | +25.1% | +13.7% |
| 2024 | +36.1% | +66.3% |
| 2025 | +16.1% | +8.6% |
| 2026 | +30.9% | +21.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNO and UNM good diversifiers for each other?
Only partially. A correlation of 0.59 means CNO and UNM 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 UNM?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.61 over the last year and 0.53 over 5 years.
Is UNM a good diversifier for CNO?
Only partially. A correlation of 0.59 means CNO and UNM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 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-unm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cno-vs-unm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNO correlations · UNM correlations
