HMN vs L: Correlation
How closely do Horace Mann Educators Corporation (HMN) and Loews Corporation (L) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HMN and L?
On 3 years of weekly data the HMN/L correlation comes out at 0.62, strong. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 206.5 %².
Few assets follow HMN as closely as L, which ranks #2 of 11 tracked partners. Twelve-month performance is nearly a tie, at +15.9% for HMN and +14.2% for L.
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.
HMN vs L: side by side
| HMN (Horace Mann Educators Corporation) | L (Loews Corporation) | |
|---|---|---|
| 1-year return | +15.9% | +14.2% |
| 5-year return | +48.6% | +100.1% |
| Volatility (ann.) | 20.0% | 16.6% |
| Beta vs S&P 500 | 0.26 | 0.33 |
| Max drawdown (3Y) | -17.1% | -12.2% |
| Market cap | $2.1B | $22.5B |
| P/E (trailing) | 12.0 | 13.5 |
| Dividend yield | 2.76% | 0.23% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | HMN | L |
|---|---|---|
| 2022 | -0.1% | +1.4% |
| 2023 | -8.8% | +19.8% |
| 2024 | +24.6% | +22.1% |
| 2025 | +21.5% | +24.7% |
| 2026 | +12.5% | +4.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HMN and L good diversifiers for each other?
Only partially. A correlation of 0.62 means HMN and L 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 HMN and L?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.60 over the last year and 0.57 over 5 years.
Is L a good diversifier for HMN?
Only partially. A correlation of 0.62 means HMN and L share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 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/hmn-vs-l.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hmn-vs-l/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HMN correlations · L correlations
