HCI vs L: Correlation
How closely do HCI Group, Inc. (HCI) and Loews Corporation (L) 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 HCI and L?
On 3 years of weekly data the HCI/L correlation comes out at 0.38, moderate. Recent behaviour matches the longer record: 0.33 over 1 year against 0.38 over 3. The 5-year figure is 0.26, and annualized covariance runs at 228.3 %².
Among the 10 assets we track against HCI, L ranks #5 by 3-year correlation. Their 12-month results are close: +15.2% for HCI against +14.2% for L. Note the risk asymmetry: HCI runs 2.2 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.
HCI vs L: side by side
| HCI (HCI Group, Inc.) | L (Loews Corporation) | |
|---|---|---|
| 1-year return | +15.2% | +14.2% |
| 5-year return | +86.4% | +100.1% |
| Volatility (ann.) | 35.9% | 16.6% |
| Beta vs S&P 500 | 0.62 | 0.33 |
| Max drawdown (3Y) | -28.3% | -12.2% |
| Market cap | $2.3B | $22.5B |
| P/E (trailing) | 8.1 | 13.5 |
| Dividend yield | 0.86% | 0.23% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | HCI | L |
|---|---|---|
| 2022 | -51.2% | +1.4% |
| 2023 | +126.8% | +19.8% |
| 2024 | +35.5% | +22.1% |
| 2025 | +66.3% | +24.7% |
| 2026 | -1.8% | +4.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HCI and L 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 HCI and L?
The HCI/L correlation stands at 0.38 on a 3-year window (1 year: 0.33, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is L a good diversifier for HCI?
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?
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/hci-vs-l.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hci-vs-l/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HCI correlations · L correlations
