CNA vs. ORI
CNA (CNA Financial Corporation) and ORI (Old Republic International Corporation) are both stocks. Both are in the Financial Services sector — CNA in Insurance - Property & Casualty, ORI in Insurance - Diversified. Over the past 10 years, CNA returned 13.05%/yr vs 16.19%/yr for ORI. At a 0.50 correlation, their price movements are largely independent.
Performance
CNA vs. ORI - Performance Comparison
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Returns By Period
In the year-to-date period, CNA achieves a 15.68% return, which is significantly higher than ORI's -0.97% return. Over the past 10 years, CNA has underperformed ORI with an annualized return of 13.05%, while ORI has yielded a comparatively higher 16.19% annualized return.
CNA
- 1D
- 1.19%
- 1M
- 15.05%
- 6M
- 19.08%
- YTD
- 15.68%
- 1Y
- 28.10%
- 3Y*
- 20.63%
- 5Y*
- 11.54%
- 10Y*
- 13.05%
ORI
- 1D
- 1.47%
- 1M
- 9.00%
- 6M
- 0.47%
- YTD
- -0.97%
- 1Y
- 25.20%
- 3Y*
- 26.77%
- 5Y*
- 20.49%
- 10Y*
- 16.19%
CNA vs. ORI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNA CNA Financial Corporation | 15.68% | 6.96% | 23.96% | 7.14% | 3.82% | 19.07% | -5.42% | 9.47% | -11.12% | 36.94% |
ORI Old Republic International Corporation | -0.97% | 37.50% | 27.10% | 26.32% | 6.68% | 44.92% | -7.64% | 17.75% | 4.85% | 16.87% |
Correlation
The correlation between CNA and ORI is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 1990 | 0.50 |
Over the past year, CNA and ORI have become more correlated (0.70) than their long-term average of 0.50, meaning their price movements have been converging.
Fundamentals
CNA:
$14.04B
ORI:
$10.24B
CNA:
$4.88
ORI:
$6.14
CNA:
10.63
ORI:
6.85
CNA:
0.91
ORI:
2.77
CNA:
0.95
ORI:
0.75
CNA:
$14.82B
ORI:
$9.37B
CNA:
$4.95B
ORI:
$3.23B
CNA:
$1.73B
ORI:
$911.00M
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Return for Risk
CNA vs. ORI — Risk / Return Rank
CNA
ORI
CNA vs. ORI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CNA Financial Corporation (CNA) and Old Republic International Corporation (ORI). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CNA | ORI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.21 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | 1.56 | +0.37 |
| Martin ratioReturn relative to average drawdown | 4.46 | 3.87 | +0.59 |
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Drawdowns
CNA vs. ORI - Drawdown Comparison
The maximum CNA drawdown since its inception was -87.48%, which is greater than ORI's maximum drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for CNA and ORI.
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Drawdown Indicators
| CNA | ORI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.48% | -66.19% | -21.29% |
Max Drawdown (1Y)Largest decline over 1 year | -14.55% | -16.18% | +1.63% |
Max Drawdown (3Y)Largest decline over 3 years | -14.55% | -16.18% | +1.63% |
Max Drawdown (5Y)Largest decline over 5 years | -25.67% | -20.36% | -5.31% |
Max Drawdown (10Y)Largest decline over 10 years | -45.91% | -47.78% | +1.87% |
Current DrawdownCurrent decline from peak | 0.00% | -3.05% | +3.05% |
Average DrawdownAverage peak-to-trough decline | -25.50% | -14.52% | -10.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.32% | 6.52% | -0.20% |
Volatility
CNA vs. ORI - Volatility Comparison
CNA Financial Corporation (CNA) has a higher volatility of 6.33% compared to Old Republic International Corporation (ORI) at 5.25%. This indicates that CNA's price experiences larger fluctuations and is considered to be riskier than ORI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNA | ORI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.33% | 5.25% | +1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 16.05% | 18.29% | -2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.27% | 23.02% | -2.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.49% | 22.10% | -0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.91% | 26.13% | -1.22% |
Dividends
CNA vs. ORI - Dividend Comparison
CNA's dividend yield for the trailing twelve months is around 7.47%, less than ORI's 8.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNA CNA Financial Corporation | 7.47% | 8.04% | 7.77% | 6.81% | 8.51% | 5.15% | 8.93% | 7.59% | 7.47% | 5.84% | 7.23% | 8.53% |
ORI Old Republic International Corporation | 8.82% | 6.92% | 2.93% | 3.33% | 7.95% | 13.75% | 4.26% | 8.05% | 8.65% | 3.55% | 3.95% | 3.97% |
Financials
CNA vs. ORI - Financials Comparison
This section allows you to compare key financial metrics between CNA Financial Corporation and Old Republic International 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. ORI - Profitability Comparison
CNA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 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%.
ORI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Old Republic International Corporation reported a gross profit of 0.00 and revenue of 2.40B. 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 Jul 2026, CNA Financial Corporation reported an operating income of 300.00M and revenue of 3.68B, resulting in an operating margin of 8.2%.
ORI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Old Republic International Corporation reported an operating income of 0.00 and revenue of 2.40B, resulting in an operating margin of 0.0%.
CNA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, CNA Financial Corporation reported a net income of 323.00M and revenue of 3.68B, resulting in a net margin of 8.8%.
ORI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Old Republic International Corporation reported a net income of 330.00M and revenue of 2.40B, resulting in a net margin of 13.8%.
Frequently Asked Questions
CNA and ORI have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNA has higher volatility (6.33%) compared to ORI (5.25%). In terms of maximum drawdown, CNA dropped -87.48% vs ORI's -66.19%.
CNA currently has the higher Sharpe Ratio (1.40 vs 1.10), 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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