LEDS vs PGR: Correlation
Measured on weekly returns over the past three years, SemiLEDS Corporation (LEDS) and Progressive Corporation (PGR) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LEDS and PGR?
Over the past 3 years, LEDS and PGR moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.49) than the 3-year average (-0.24). Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -502.6 %².
Among the 11 assets we track against LEDS, PGR sits near the bottom by co-movement, at rank #11. The trailing year gives LEDS the advantage: +1.0% versus -5.3%, a 6.3-point spread. Risk is not evenly split, since LEDS carries 3.8 times the volatility of the other side.
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.
LEDS vs PGR: side by side
| LEDS (SemiLEDS Corporation) | PGR (Progressive Corporation) | |
|---|---|---|
| 1-year return | +1.0% | -5.3% |
| 5-year return | -78.8% | +153.0% |
| Volatility (ann.) | 90.7% | 23.6% |
| Beta vs S&P 500 | 1.11 | 0.32 |
| Max drawdown (3Y) | -67.6% | -30.4% |
| Market cap | – | $126.5B |
| P/E (trailing) | – | 10.9 |
| Dividend yield | 0.00% | 0.18% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | LEDS | PGR |
|---|---|---|
| 2022 | -65.4% | +26.8% |
| 2023 | -13.1% | +23.2% |
| 2024 | -7.2% | +51.4% |
| 2025 | +16.3% | -3.0% |
| 2026 | +32.0% | +1.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LEDS and PGR good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between LEDS and PGR?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.49 over the last year and -0.16 over 5 years.
Is PGR a good diversifier for LEDS?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/leds-vs-pgr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/leds-vs-pgr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LEDS correlations · PGR correlations
