PGR vs PLMR: Correlation
Measured on weekly returns over the past three years, Progressive Corporation (PGR) and Palomar Holdings, Inc. (PLMR) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PGR and PLMR?
Over the past 3 years, PGR and PLMR moved with a correlation of 0.50, which is moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.50 over 3. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 423.6 %².
Among the 36 assets we track against PGR, PLMR ranks #12 by 3-year correlation. The trailing year gives PLMR the advantage: -5.3% versus +5.0%, a 10.3-point spread. One caveat on sizing: PLMR is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PGR vs PLMR: side by side
| PGR (Progressive Corporation) | PLMR (Palomar Holdings, Inc.) | |
|---|---|---|
| 1-year return | -5.3% | +5.0% |
| 5-year return | +153.0% | +44.4% |
| Volatility (ann.) | 23.6% | 35.9% |
| Beta vs S&P 500 | 0.32 | 0.34 |
| Max drawdown (3Y) | -30.4% | -42.3% |
| Market cap | $126.5B | $3.4B |
| P/E (trailing) | 10.9 | 17.7 |
| Dividend yield | 0.18% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | PGR | PLMR |
|---|---|---|
| 2022 | +26.8% | -30.3% |
| 2023 | +23.2% | +22.9% |
| 2024 | +51.4% | +90.3% |
| 2025 | -3.0% | +27.6% |
| 2026 | +1.7% | -3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PGR and PLMR good diversifiers for each other?
To a limited degree. At 0.50 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 PGR and PLMR?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.43 over the last year and 0.36 over 5 years.
Is PLMR a good diversifier for PGR?
To a limited degree. At 0.50 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 0.50 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.
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Related comparisons
Hubs: PGR correlations · PLMR correlations
