DGICB vs ORLY: Correlation
How closely do Donegal Group, Inc. (DGICB) and O'Reilly Automotive (ORLY) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGICB and ORLY?
Over the past 3 years, DGICB and ORLY moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.22 over 3. Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -178.2 %².
Among the 19 assets we track against DGICB, ORLY ranks #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DGICB ahead by 83.9 points (+68.3% versus -15.6%). Note the risk asymmetry: DGICB runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DGICB vs ORLY: side by side
| DGICB (Donegal Group, Inc.) | ORLY (O'Reilly Automotive) | |
|---|---|---|
| 1-year return | +68.3% | -15.6% |
| 5-year return | +82.3% | +120.8% |
| Volatility (ann.) | 41.5% | 19.8% |
| Beta vs S&P 500 | 0.15 | 0.20 |
| Max drawdown (3Y) | -30.3% | -23.3% |
| Market cap | $0.9B | $71.1B |
| P/E (trailing) | 12.1 | 28.4 |
| Dividend yield | 3.00% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | DGICB | ORLY |
|---|---|---|
| 2022 | +25.8% | +19.5% |
| 2023 | -6.8% | +12.6% |
| 2024 | +1.6% | +24.8% |
| 2025 | +30.8% | +15.4% |
| 2026 | +34.6% | -3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGICB and ORLY good diversifiers for each other?
Yes. With a correlation of -0.22, DGICB and ORLY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DGICB and ORLY?
As of 2026-08-27, the correlation of weekly returns between DGICB and ORLY is -0.22 over 3 years, -0.32 over 1 year and -0.11 over 5 years.
Is ORLY a good diversifier for DGICB?
Yes. With a correlation of -0.22, DGICB and ORLY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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/dgicb-vs-orly.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgicb-vs-orly/)
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Related comparisons
Hubs: DGICB correlations · ORLY correlations
