ERIE vs PGR: Correlation
How closely do Erie Indemnity (ERIE) and Progressive Corporation (PGR) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERIE and PGR?
On 3 years of weekly data the ERIE/PGR correlation comes out at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. The 5-year figure is 0.32, and annualized covariance runs at 271.1 %².
Within ERIE's tracked universe of 33 assets, PGR comes in at #18 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PGR ahead by 19.2 points (-24.5% versus -5.3%). This link changes with the market regime, having swung between 0.01 and 0.52 on a rolling one-year basis.
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 PGR: side by side
| ERIE (Erie Indemnity) | PGR (Progressive Corporation) | |
|---|---|---|
| 1-year return | -24.5% | -5.3% |
| 5-year return | +61.3% | +153.0% |
| Volatility (ann.) | 30.3% | 23.6% |
| Beta vs S&P 500 | 0.37 | 0.32 |
| Max drawdown (3Y) | -60.9% | -30.4% |
| Market cap | $13.6B | $126.5B |
| P/E (trailing) | 23.4 | 10.9 |
| Dividend yield | 2.24% | 0.18% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | ERIE | PGR |
|---|---|---|
| 2022 | +32.0% | +26.8% |
| 2023 | +37.3% | +23.2% |
| 2024 | +24.7% | +51.4% |
| 2025 | -29.4% | -3.0% |
| 2026 | -8.0% | +1.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERIE and PGR good diversifiers for each other?
Reasonably. At 0.38, ERIE and PGR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ERIE and PGR?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.43 over the last year and 0.32 over 5 years.
Is PGR a good diversifier for ERIE?
Reasonably. At 0.38, ERIE and PGR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
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-pgr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/erie-vs-pgr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ERIE correlations · PGR correlations
