CNOB vs LMND: Correlation
ConnectOne Bancorp, Inc. (CNOB) and Lemonade, Inc. (LMND) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNOB and LMND?
Across a 3-year window, the weekly returns of CNOB and LMND correlate at 0.49, moderate. The link has loosened recently: the 1-year correlation (0.17) runs below the 3-year figure (0.49). Stretching to 5 years gives 0.39, with an annualized covariance of 1387.9 %².
By 3-year correlation, LMND places #10 of the 17 assets tracked against CNOB. Their recent paths diverged sharply: over the last 12 months CNOB outperformed by 27.6 percentage points (+27.5% for CNOB against -0.1% for LMND). Risk is not evenly split, since LMND carries 2.5 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.
CNOB vs LMND: side by side
| CNOB (ConnectOne Bancorp, Inc.) | LMND (Lemonade, Inc.) | |
|---|---|---|
| 1-year return | +27.5% | -0.1% |
| 5-year return | +28.9% | -28.5% |
| Volatility (ann.) | 33.9% | 84.2% |
| Beta vs S&P 500 | 0.94 | 2.01 |
| Max drawdown (3Y) | -26.6% | -51.5% |
| Market cap | $1.6B | $4.2B |
| P/E (trailing) | 9.9 | – |
| Dividend yield | 2.35% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNOB | LMND |
|---|---|---|
| 2022 | -24.4% | -67.5% |
| 2023 | -1.8% | +17.9% |
| 2024 | +3.3% | +127.4% |
| 2025 | +17.8% | +94.1% |
| 2026 | +24.1% | -24.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNOB and LMND good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CNOB and LMND?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.17 over the last year and 0.39 over 5 years.
Is LMND a good diversifier for CNOB?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cnob-vs-lmnd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cnob-vs-lmnd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNOB correlations · LMND correlations
