ESNT vs GL: Correlation
How closely do Essent Group Ltd. (ESNT) and Globe Life (GL) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESNT and GL?
Over the past 3 years, ESNT and GL moved with a correlation of 0.41, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.55 versus 0.41 over 3 years. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 312.8 %².
Within ESNT's tracked universe of 13 assets, GL comes in at #7 by 3-year correlation. The last year tells two different stories: GL led by 15.9 percentage points, +10.2% for ESNT against +26.1% for GL. One caveat on sizing: GL is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ESNT vs GL: side by side
| ESNT (Essent Group Ltd.) | GL (Globe Life) | |
|---|---|---|
| 1-year return | +10.2% | +26.1% |
| 5-year return | +62.5% | +91.0% |
| Volatility (ann.) | 21.4% | 35.7% |
| Beta vs S&P 500 | 0.57 | 0.60 |
| Max drawdown (3Y) | -18.4% | -61.6% |
| Market cap | $6.2B | $13.5B |
| P/E (trailing) | 9.7 | 11.7 |
| Dividend yield | 1.90% | 0.68% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | ESNT | GL |
|---|---|---|
| 2022 | -12.8% | +29.7% |
| 2023 | +38.6% | +1.8% |
| 2024 | +5.2% | -7.5% |
| 2025 | +20.7% | +26.5% |
| 2026 | +7.9% | +26.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESNT and GL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ESNT and GL?
As of 2026-08-27, the correlation of weekly returns between ESNT and GL is 0.41 over 3 years, 0.55 over 1 year and 0.44 over 5 years.
Is GL a good diversifier for ESNT?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 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/esnt-vs-gl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/esnt-vs-gl/)
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Related comparisons
Hubs: ESNT correlations · GL correlations
