L vs PGR: Correlation
Loews Corporation (L) and Progressive Corporation (PGR) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are L and PGR?
Over the past 3 years, L and PGR moved with a correlation of 0.52, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.52 over 3. Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 202.8 %².
Within L's tracked universe of 54 assets, PGR comes in at #27 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months L outperformed by 19.5 percentage points (+14.2% for L against -5.3% for PGR). On a rolling one-year basis the correlation drifted between 0.31 and 0.62, a moderate band.
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.
L vs PGR: side by side
| L (Loews Corporation) | PGR (Progressive Corporation) | |
|---|---|---|
| 1-year return | +14.2% | -5.3% |
| 5-year return | +100.1% | +153.0% |
| Volatility (ann.) | 16.6% | 23.6% |
| Beta vs S&P 500 | 0.33 | 0.32 |
| Max drawdown (3Y) | -12.2% | -30.4% |
| Market cap | $22.5B | $126.5B |
| P/E (trailing) | 13.5 | 10.9 |
| Dividend yield | 0.23% | 0.18% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | L | PGR |
|---|---|---|
| 2022 | +1.4% | +26.8% |
| 2023 | +19.8% | +23.2% |
| 2024 | +22.1% | +51.4% |
| 2025 | +24.7% | -3.0% |
| 2026 | +4.5% | +1.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are L and PGR good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between L and PGR?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.46 over the last year and 0.50 over 5 years.
Is PGR a good diversifier for L?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 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/l-vs-pgr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/l-vs-pgr/)
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Related comparisons
Hubs: L correlations · PGR correlations
