GLRE vs GNW: Correlation
How closely do Greenlight Reinsurance, Ltd. - Class A (GLRE) and Genworth Financial Inc (GNW) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLRE and GNW?
Over the past 3 years, GLRE and GNW moved with a correlation of 0.52, which is moderate. The link has loosened recently: the 1-year correlation (0.38) runs below the 3-year figure (0.52). Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 346.8 %².
GNW is one of the assets that tracks GLRE most closely: it ranks #1 out of the 11 assets we track against GLRE. Neither side won the trailing year by much: +18.6% against +14.5%.
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.
GLRE vs GNW: side by side
| GLRE (Greenlight Reinsurance, Ltd. - Class A) | GNW (Genworth Financial Inc) | |
|---|---|---|
| 1-year return | +18.6% | +14.5% |
| 5-year return | +84.1% | +172.1% |
| Volatility (ann.) | 24.0% | 28.1% |
| Beta vs S&P 500 | 0.33 | 0.59 |
| Max drawdown (3Y) | -22.8% | -21.7% |
| Market cap | $0.5B | $3.8B |
| P/E (trailing) | 10.4 | 19.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GLRE | GNW |
|---|---|---|
| 2022 | +4.0% | +30.6% |
| 2023 | +40.1% | +26.3% |
| 2024 | +22.6% | +4.6% |
| 2025 | +4.1% | +29.2% |
| 2026 | +5.7% | +10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLRE and GNW good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GLRE and GNW?
As of 2026-08-27, the correlation of weekly returns between GLRE and GNW is 0.52 over 3 years, 0.38 over 1 year and 0.41 over 5 years.
Is GNW a good diversifier for GLRE?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
A reading of 0.52 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
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Related comparisons
Hubs: GLRE correlations · GNW correlations
