L vs WTM: Correlation
How closely do Loews Corporation (L) and White Mountains Insurance Group, Ltd. (WTM) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are L and WTM?
Over the past 3 years, L and WTM moved with a correlation of 0.52, which is moderate. The past 12 months show a weaker link (0.40) than the 3-year average (0.52). Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 178.4 %².
Among the 54 assets we track against L, WTM ranks #28 by 3-year correlation. Their 12-month results are close: +14.2% for L against +15.3% for WTM.
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 WTM: side by side
| L (Loews Corporation) | WTM (White Mountains Insurance Group, Ltd.) | |
|---|---|---|
| 1-year return | +14.2% | +15.3% |
| 5-year return | +100.1% | +90.5% |
| Volatility (ann.) | 16.6% | 20.6% |
| Beta vs S&P 500 | 0.33 | 0.23 |
| Max drawdown (3Y) | -12.2% | -18.0% |
| Market cap | $22.5B | $5.1B |
| P/E (trailing) | 13.5 | 4.9 |
| Dividend yield | 0.23% | 0.05% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | L | WTM |
|---|---|---|
| 2022 | +1.4% | +39.6% |
| 2023 | +19.8% | +6.5% |
| 2024 | +22.1% | +29.3% |
| 2025 | +24.7% | +6.9% |
| 2026 | +4.5% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are L and WTM good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between L and WTM?
As of 2026-08-27, the correlation of weekly returns between L and WTM is 0.52 over 3 years, 0.40 over 1 year and 0.43 over 5 years.
Is WTM a good diversifier for L?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
A reading of 0.52 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: L correlations · WTM correlations
