PGR vs TAN: Correlation
Progressive Corporation (PGR) and Invesco Solar ETF (TAN) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PGR and TAN?
On 3 years of weekly data the PGR/TAN correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.41 versus -0.20 over 3 years. The 5-year figure is -0.05, and annualized covariance runs at -173.1 %².
Among the 36 assets we track against PGR, TAN ranks #25 by 3-year correlation. The last year tells two different stories: TAN led by 26.7 percentage points, -5.3% for PGR against +21.4% for TAN. The relationship is regime-dependent: the rolling one-year correlation swung between -0.40 and 0.10 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: TAN runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TAN: side by side
| PGR (Progressive Corporation) | TAN (Invesco Solar ETF) | |
|---|---|---|
| 1-year return | -5.3% | +21.4% |
| 5-year return | +153.0% | -41.9% |
| Volatility (ann.) | 23.6% | 37.4% |
| Beta vs S&P 500 | 0.32 | 1.04 |
| Max drawdown (3Y) | -30.4% | -55.4% |
| Market cap | $126.5B | – |
| P/E (trailing) | 10.9 | – |
| Dividend yield | 0.18% | – |
| Sector / category | Financials | ETF · Thematic |
Year-by-year returns
| Year | PGR | TAN |
|---|---|---|
| 2022 | +26.8% | -5.2% |
| 2023 | +23.2% | -26.8% |
| 2024 | +51.4% | -37.6% |
| 2025 | -3.0% | +48.3% |
| 2026 | +1.7% | +1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PGR and TAN good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between PGR and TAN?
The PGR/TAN correlation stands at -0.20 on a 3-year window (1 year: -0.41, 5 years: -0.05), computed from weekly returns as of 2026-08-27.
Is TAN a good diversifier for PGR?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 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/pgr-vs-tan.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pgr-vs-tan/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PGR correlations · TAN correlations
