CNF vs. AFL

Last updated Jun 26, 2026

CNF (CNFinance Holdings Limited) and AFL (Aflac Incorporated) are both stocks. Both are in the Financial Services sector — CNF in Mortgage Finance, AFL in Insurance - Life. Over the past 5 years, CNF returned -38.08%/yr vs 19.56%/yr for AFL. At a 0.06 correlation, their price movements are largely independent.

Performance

CNF vs. AFL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CNFinance Holdings Limited (CNF) and Aflac Incorporated (AFL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNF achieves a -53.06% return, which is significantly lower than AFL's 8.35% return.

CNF

• 1D: -2.07%
• 1M: -10.41%
• YTD: -53.06%
• 6M: -54.12%
• 1Y: -48.82%
• 3Y*: -54.36%
• 5Y*: -38.08%
• 10Y*: —

AFL

• 1D: 0.41%
• 1M: 1.21%
• YTD: 8.35%
• 6M: 8.00%
• 1Y: 17.83%
• 3Y*: 23.11%
• 5Y*: 19.56%
• 10Y*: 16.05%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CNF vs. AFL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CNF CNFinance Holdings Limited	-53.06%	-36.32%	-57.21%	29.82%	-58.09%	-3.09%	5.25%	-27.40%	-23.04%
AFL Aflac Incorporated	8.35%	8.94%	28.08%	17.36%	26.41%	34.55%	-13.60%	18.55%	3.11%

Correlation

The correlation between CNF and AFL is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (All Time) Calculated using the full available price history since Nov 13, 2018	0.06

Fundamentals

EPS CNF : -CN¥150.19 AFL : $8.76
PS Ratio CNF : 0.02 AFL : 3.43
Total Revenue (TTM) CNF : CN¥359.92M AFL : $18.22B
Gross Profit (TTM) CNF : CN¥359.92M AFL : $8.70B
EBITDA (TTM) CNF : CN¥0.00 AFL : $6.67B

Return for Risk

CNF vs. AFL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CNF

CNF Risk / Return Rank: 28
CNF Sharpe Ratio Rank: 28
CNF Sortino Ratio Rank: 38
CNF Omega Ratio Rank: 37
CNF Calmar Ratio Rank: 17
CNF Martin Ratio Rank: 20

AFL

AFL Risk / Return Rank: 73
AFL Sharpe Ratio Rank: 75
AFL Sortino Ratio Rank: 69
AFL Omega Ratio Rank: 66
AFL Calmar Ratio Rank: 77
AFL Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CNF vs. AFL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CNFinance Holdings Limited (CNF) and Aflac Incorporated (AFL). 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.

	CNF	AFL	Difference
Sharpe ratio: Return per unit of total volatility	-0.36	1.05	-1.41
Sortino ratio: Return per unit of downside risk	0.17	1.57	-1.40
Omega ratio: Gain probability vs. loss probability	1.02	1.18	-0.16
Calmar ratio: Return relative to maximum drawdown	-0.69	1.96	-2.66
Martin ratio: Return relative to average drawdown	-1.09	4.88	-5.97

CNF vs. AFL - Sharpe Ratio Comparison

The current CNF Sharpe Ratio is -0.36, which is lower than the AFL Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of CNF and AFL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CNF vs. AFL - Drawdown Comparison

The maximum CNF drawdown since its inception was -96.82%, which is greater than AFL's maximum drawdown of -82.71%. Use the drawdown chart below to compare losses from any high point for CNF and AFL.

Drawdown Indicators

	CNF	AFL	Difference
Max Drawdown Largest peak-to-trough decline	-96.82%	-82.71%	-14.11%
Max Drawdown (1Y) Largest decline over 1 year	-70.73%	-9.11%	-61.62%
Max Drawdown (3Y) Largest decline over 3 years	-93.98%	-13.56%	-80.42%
Max Drawdown (5Y) Largest decline over 5 years	-95.93%	-19.86%	-76.07%
Max Drawdown (10Y) Largest decline over 10 years	—	-54.89%	—
Current Drawdown Current decline from peak	-96.24%	-0.47%	-95.77%
Average Drawdown Average peak-to-trough decline	-61.92%	-11.64%	-50.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.72%	3.67%	+41.05%

Volatility

CNF vs. AFL - Volatility Comparison

CNFinance Holdings Limited (CNF) has a higher volatility of 13.78% compared to Aflac Incorporated (AFL) at 5.94%. This indicates that CNF's price experiences larger fluctuations and is considered to be riskier than AFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNF	AFL	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.78%	5.94%	+7.84%
Volatility (6M) Calculated over the trailing 6-month period	62.82%	12.21%	+50.61%
Volatility (1Y) Calculated over the trailing 1-year period	137.88%	17.13%	+120.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.00%	20.86%	+74.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	85.09%	25.74%	+59.35%

Dividends

CNF vs. AFL - Dividend Comparison

CNF has not paid dividends to shareholders, while AFL's dividend yield for the trailing twelve months is around 2.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFL Aflac Incorporated	2.01%	2.10%	1.93%	2.04%	2.22%	2.26%	2.52%	2.04%	2.28%	1.98%	2.39%	2.64%
CNF CNFinance Holdings Limited	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

Frequently Asked Questions

Can I hold both CNF and AFL in my portfolio?

CNF and AFL have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CNF or AFL?

CNF has higher volatility (13.78%) compared to AFL (5.94%). In terms of maximum drawdown, CNF dropped -96.82% vs AFL's -82.71%.

Which has better risk-adjusted returns?

AFL currently has the higher Sharpe Ratio (1.05 vs -0.36), 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.