HIG vs L: Correlation
How closely do Hartford (The) (HIG) and Loews Corporation (L) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIG and L?
Over the past 3 years, HIG and L moved with a correlation of 0.81, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.82 over 1 year against 0.81 over 3. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 262.0 %².
In HIG's tracked universe of 49 assets, L sits right near the top at #1. On 12-month performance L holds a 8.8-point edge, +5.4% against +14.2%. Stability stands out here, with the rolling one-year correlation confined to 0.70 through 0.88.
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.
HIG vs L: side by side
| HIG (Hartford (The)) | L (Loews Corporation) | |
|---|---|---|
| 1-year return | +5.4% | +14.2% |
| 5-year return | +127.4% | +100.1% |
| Volatility (ann.) | 19.5% | 16.6% |
| Beta vs S&P 500 | 0.39 | 0.33 |
| Max drawdown (3Y) | -13.7% | -12.2% |
| Market cap | $37.3B | $22.5B |
| P/E (trailing) | 9.7 | 13.5 |
| Dividend yield | 1.66% | 0.23% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | HIG | L |
|---|---|---|
| 2022 | +12.3% | +1.4% |
| 2023 | +8.5% | +19.8% |
| 2024 | +38.5% | +22.1% |
| 2025 | +28.1% | +24.7% |
| 2026 | +0.9% | +4.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIG and L good diversifiers for each other?
No: a correlation of 0.81 means HIG and L tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between HIG and L?
Using weekly returns as of 2026-08-27: 0.81 over 3 years, with 0.82 over the last year and 0.80 over 5 years.
Is L a good diversifier for HIG?
No: a correlation of 0.81 means HIG and L tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.81 mean?
On the −1 to +1 scale, 0.81 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/hig-vs-l.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hig-vs-l/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HIG correlations · L correlations
