CNA vs. MKL
CNA (CNA Financial Corporation) and MKL (Markel Corporation) are both stocks. Both operate in the Insurance - Property & Casualty industry within the Financial Services sector. Over the past 10 years, CNA returned 10.36%/yr vs 6.32%/yr for MKL. At a 0.38 correlation, their price movements are largely independent.
Performance
CNA vs. MKL - Performance Comparison
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Returns By Period
In the year-to-date period, CNA achieves a -6.60% return, which is significantly higher than MKL's -17.31% return. Over the past 10 years, CNA has outperformed MKL with an annualized return of 10.36%, while MKL has yielded a comparatively lower 6.32% annualized return.
CNA
- 1D
- -0.78%
- 1M
- -4.17%
- YTD
- -6.60%
- 6M
- -3.09%
- 1Y
- -5.30%
- 3Y*
- 11.87%
- 5Y*
- 5.19%
- 10Y*
- 10.36%
MKL
- 1D
- -0.55%
- 1M
- 1.50%
- YTD
- -17.31%
- 6M
- -13.58%
- 1Y
- -9.20%
- 3Y*
- 9.28%
- 5Y*
- 7.68%
- 10Y*
- 6.32%
CNA vs. MKL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNA CNA Financial Corporation | -6.60% | 6.96% | 23.96% | 7.14% | 3.82% | 19.07% | -5.42% | 9.47% | -11.12% | 36.94% |
MKL Markel Corporation | -17.31% | 24.53% | 21.57% | 7.77% | 6.77% | 19.42% | -9.61% | 10.13% | -8.87% | 25.94% |
Correlation
The correlation between CNA and MKL is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 1990 | 0.38 |
Over the past year, CNA and MKL have become more correlated (0.60) than their long-term average of 0.38, meaning their price movements have been converging.
Fundamentals
CNA:
$4.88
MKL:
$176.96
CNA:
8.59
MKL:
10.05
CNA:
0.74
MKL:
0.18
CNA:
0.77
MKL:
1.00
CNA:
$14.82B
MKL:
$16.57B
CNA:
$4.95B
MKL:
$7.80B
CNA:
$1.73B
MKL:
$2.55B
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Return for Risk
CNA vs. MKL — Risk / Return Rank
CNA
MKL
CNA vs. MKL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CNA Financial Corporation (CNA) and Markel Corporation (MKL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| CNA | MKL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.93 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | -0.46 | +0.09 |
| Martin ratioReturn relative to average drawdown | -0.85 | -1.16 | +0.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CNA | MKL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.28 | -0.49 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.34 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.25 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.46 | -0.31 |
Drawdowns
CNA vs. MKL - Drawdown Comparison
The maximum CNA drawdown since its inception was -87.48%, which is greater than MKL's maximum drawdown of -61.32%. Use the drawdown chart below to compare losses from any high point for CNA and MKL.
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Drawdown Indicators
| CNA | MKL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.48% | -61.32% | -26.16% |
Max Drawdown (1Y)Largest decline over 1 year | -14.55% | -20.10% | +5.55% |
Max Drawdown (3Y)Largest decline over 3 years | -14.55% | -20.10% | +5.55% |
Max Drawdown (5Y)Largest decline over 5 years | -25.67% | -28.87% | +3.20% |
Max Drawdown (10Y)Largest decline over 10 years | -45.91% | -44.66% | -1.25% |
Current DrawdownCurrent decline from peak | -14.53% | -18.90% | +4.37% |
Average DrawdownAverage peak-to-trough decline | -25.55% | -11.39% | -14.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.49% | 7.97% | -1.48% |
Volatility
CNA vs. MKL - Volatility Comparison
CNA Financial Corporation (CNA) has a higher volatility of 5.56% compared to Markel Corporation (MKL) at 3.91%. This indicates that CNA's price experiences larger fluctuations and is considered to be riskier than MKL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNA | MKL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.56% | 3.91% | +1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 14.95% | 13.04% | +1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.25% | 18.78% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.44% | 22.41% | -0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.93% | 25.27% | -0.34% |
Dividends
CNA vs. MKL - Dividend Comparison
CNA's dividend yield for the trailing twelve months is around 9.26%, while MKL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNA CNA Financial Corporation | 9.26% | 8.04% | 7.77% | 6.81% | 8.51% | 5.15% | 8.93% | 7.59% | 7.47% | 5.84% | 7.23% | 8.53% |
MKL Markel Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
CNA vs. MKL - Financials Comparison
This section allows you to compare key financial metrics between CNA Financial Corporation and Markel Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CNA vs. MKL - Profitability Comparison
CNA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CNA Financial Corporation reported a gross profit of 1.50B and revenue of 3.68B. Therefore, the gross margin over that period was 40.9%.
MKL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Markel Corporation reported a gross profit of 0.00 and revenue of 3.55B. Therefore, the gross margin over that period was 0.0%.
CNA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CNA Financial Corporation reported an operating income of 300.00M and revenue of 3.68B, resulting in an operating margin of 8.2%.
MKL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Markel Corporation reported an operating income of -273.33M and revenue of 3.55B, resulting in an operating margin of -7.7%.
CNA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CNA Financial Corporation reported a net income of 323.00M and revenue of 3.68B, resulting in a net margin of 8.8%.
MKL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Markel Corporation reported a net income of -335.52M and revenue of 3.55B, resulting in a net margin of -9.5%.
Frequently Asked Questions
CNA and MKL have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNA has higher volatility (5.56%) compared to MKL (3.91%). In terms of maximum drawdown, CNA dropped -87.48% vs MKL's -61.32%.
CNA currently has the higher Sharpe Ratio (-0.28 vs -0.49), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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