DGICA vs EIG: Correlation
How closely do Donegal Group, Inc. (DGICA) and Employers Holdings Inc (EIG) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGICA and EIG?
On 3 years of weekly data the DGICA/EIG correlation comes out at 0.54, moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.54 over 3. The 5-year figure is 0.53, and annualized covariance runs at 283.8 %².
EIG is one of the assets that tracks DGICA most closely: it ranks #1 out of the 12 assets we track against DGICA. Their 12-month results are close: +12.6% for DGICA against +16.7% for EIG.
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.
DGICA vs EIG: side by side
| DGICA (Donegal Group, Inc.) | EIG (Employers Holdings Inc) | |
|---|---|---|
| 1-year return | +12.6% | +16.7% |
| 5-year return | +57.1% | +43.2% |
| Volatility (ann.) | 23.2% | 22.8% |
| Beta vs S&P 500 | 0.18 | 0.32 |
| Max drawdown (3Y) | -20.4% | -31.3% |
| Market cap | $0.7B | $0.9B |
| P/E (trailing) | 9.9 | 62.1 |
| Dividend yield | 3.87% | 2.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGICA | EIG |
|---|---|---|
| 2022 | +4.0% | +12.6% |
| 2023 | +3.2% | -6.1% |
| 2024 | +15.9% | +33.4% |
| 2025 | +34.7% | -13.3% |
| 2026 | -2.0% | +16.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGICA and EIG good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DGICA and EIG?
As of 2026-08-27, the correlation of weekly returns between DGICA and EIG is 0.54 over 3 years, 0.61 over 1 year and 0.53 over 5 years.
Is EIG a good diversifier for DGICA?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
A reading of 0.54 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/dgica-vs-eig.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgica-vs-eig/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGICA correlations · EIG correlations
