THG vs UVE: Correlation
Hanover Insurance Group Inc (THG) and UNIVERSAL INSURANCE HOLDINGS INC (UVE) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are THG and UVE?
Over the past 3 years, THG and UVE moved with a correlation of 0.53, which is moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 390.5 %².
By 3-year correlation, UVE places #11 of the 20 assets tracked against THG. Their recent paths diverged sharply: over the last 12 months UVE outperformed by 47.2 percentage points (+33.1% for THG against +80.3% for UVE). One caveat on sizing: UVE 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.
THG vs UVE: side by side
| THG (Hanover Insurance Group Inc) | UVE (UNIVERSAL INSURANCE HOLDINGS INC) | |
|---|---|---|
| 1-year return | +33.1% | +80.3% |
| 5-year return | +81.9% | +277.8% |
| Volatility (ann.) | 21.9% | 33.5% |
| Beta vs S&P 500 | 0.24 | 0.36 |
| Max drawdown (3Y) | -14.0% | -25.7% |
| Market cap | $7.9B | $1.2B |
| P/E (trailing) | 10.9 | 5.7 |
| Dividend yield | 1.64% | 1.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | THG | UVE |
|---|---|---|
| 2022 | +5.4% | -33.5% |
| 2023 | -7.6% | +58.1% |
| 2024 | +30.6% | +36.8% |
| 2025 | +20.7% | +65.3% |
| 2026 | +25.9% | +29.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are THG and UVE good diversifiers for each other?
To a limited degree. At 0.53 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 THG and UVE?
As of 2026-08-27, the correlation of weekly returns between THG and UVE is 0.53 over 3 years, 0.56 over 1 year and 0.36 over 5 years.
Is UVE a good diversifier for THG?
To a limited degree. At 0.53 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 0.53 mean?
A reading of 0.53 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/thg-vs-uve.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/thg-vs-uve/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: THG correlations · UVE correlations
