ERIE vs HIG: Correlation
Measured on weekly returns over the past three years, Erie Indemnity (ERIE) and Hartford (The) (HIG) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERIE and HIG?
Across a 3-year window, the weekly returns of ERIE and HIG correlate at 0.38, moderate. Recent behaviour matches the longer record: 0.32 over 1 year against 0.38 over 3. Stretching to 5 years gives 0.36, with an annualized covariance of 223.5 %².
Within ERIE's tracked universe of 33 assets, HIG comes in at #16 by 3-year correlation. The last year tells two different stories: HIG led by 29.9 percentage points, -24.5% for ERIE against +5.4% for HIG. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.00 to 0.54. Note the risk asymmetry: ERIE runs 1.6 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.
ERIE vs HIG: side by side
| ERIE (Erie Indemnity) | HIG (Hartford (The)) | |
|---|---|---|
| 1-year return | -24.5% | +5.4% |
| 5-year return | +61.3% | +127.4% |
| Volatility (ann.) | 30.3% | 19.5% |
| Beta vs S&P 500 | 0.37 | 0.39 |
| Max drawdown (3Y) | -60.9% | -13.7% |
| Market cap | $13.6B | $37.3B |
| P/E (trailing) | 23.4 | 9.7 |
| Dividend yield | 2.24% | 1.66% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | ERIE | HIG |
|---|---|---|
| 2022 | +32.0% | +12.3% |
| 2023 | +37.3% | +8.5% |
| 2024 | +24.7% | +38.5% |
| 2025 | -29.4% | +28.1% |
| 2026 | -8.0% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERIE and HIG good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ERIE and HIG?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.32 over the last year and 0.36 over 5 years.
Is HIG a good diversifier for ERIE?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/erie-vs-hig.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/erie-vs-hig/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ERIE correlations · HIG correlations
