HIG vs THG: Correlation
How closely do Hartford (The) (HIG) and Hanover Insurance Group Inc (THG) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIG and THG?
Over the past 3 years, HIG and THG moved with a correlation of 0.65, which is strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 278.9 %².
By 3-year correlation, THG places #13 of the 49 assets tracked against HIG. Correlation aside, the last 12 months split them widely, with THG ahead by 27.7 points (+5.4% versus +33.1%).
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 THG: side by side
| HIG (Hartford (The)) | THG (Hanover Insurance Group Inc) | |
|---|---|---|
| 1-year return | +5.4% | +33.1% |
| 5-year return | +127.4% | +81.9% |
| Volatility (ann.) | 19.5% | 21.9% |
| Beta vs S&P 500 | 0.39 | 0.24 |
| Max drawdown (3Y) | -13.7% | -14.0% |
| Market cap | $37.3B | $7.9B |
| P/E (trailing) | 9.7 | 10.9 |
| Dividend yield | 1.66% | 1.64% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | HIG | THG |
|---|---|---|
| 2022 | +12.3% | +5.4% |
| 2023 | +8.5% | -7.6% |
| 2024 | +38.5% | +30.6% |
| 2025 | +28.1% | +20.7% |
| 2026 | +0.9% | +25.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIG and THG good diversifiers for each other?
Only partially. A correlation of 0.65 means HIG and THG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between HIG and THG?
The HIG/THG correlation stands at 0.65 on a 3-year window (1 year: 0.69, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is THG a good diversifier for HIG?
Only partially. A correlation of 0.65 means HIG and THG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 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-thg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hig-vs-thg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HIG correlations · THG correlations
