FGF vs. PGR

Last updated Jun 4, 2026

FGF (Fundamental Global Inc.) and PGR (The Progressive Corporation) are both stocks. Both are in the Financial Services sector — FGF in Insurance - Diversified, PGR in Insurance - Property & Casualty. Over the past 10 years, FGF returned -38.19%/yr vs 22.74%/yr for PGR. At a 0.05 correlation, their price movements are largely independent.

Performance

FGF vs. PGR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fundamental Global Inc. (FGF) and The Progressive Corporation (PGR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGF achieves a -48.29% return, which is significantly lower than PGR's -9.60% return. Over the past 10 years, FGF has underperformed PGR with an annualized return of -38.19%, while PGR has yielded a comparatively higher 22.74% annualized return.

FGF

• 1D: -13.40%
• 1M: 17.72%
• YTD: -48.29%
• 6M: -55.14%
• 1Y: -91.36%
• 3Y*: -68.09%
• 5Y*: -63.59%
• 10Y*: -38.19%

PGR

• 1D: -1.71%
• 1M: -2.90%
• YTD: -9.60%
• 6M: -9.39%
• 1Y: -28.28%
• 3Y*: 17.80%
• 5Y*: 16.61%
• 10Y*: 22.74%

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

FGF vs. PGR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGF Fundamental Global Inc.	-48.29%	-87.39%	-45.50%	-43.86%	-24.20%	-10.90%	-23.55%	37.31%	-44.55%	-7.05%
PGR The Progressive Corporation	-9.60%	-3.02%	51.39%	23.16%	26.81%	10.84%	41.48%	25.14%	9.39%	61.59%

Correlation

The correlation between FGF and PGR is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Apr 2, 2014	0.05

The correlation between FGF and PGR shifts across timeframes, from -0.12 (1 year) to 0.06 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS FGF : -$17.54 PGR : $19.23
PS Ratio FGF : 17.59 PGR : 1.30
Total Revenue (TTM) FGF : $2.25M PGR : $87.65B
Gross Profit (TTM) FGF : $5.33M PGR : $23.23B
EBITDA (TTM) FGF : -$95.58M PGR : $14.81B

Return for Risk

FGF vs. PGR — Risk / Return Rank

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

FGF

FGF Risk / Return Rank: 10
FGF Sharpe Ratio Rank: 16
FGF Sortino Ratio Rank: 7
FGF Omega Ratio Rank: 8
FGF Calmar Ratio Rank: 4
FGF Martin Ratio Rank: 17

PGR

PGR Risk / Return Rank: 3
PGR Sharpe Ratio Rank: 1
PGR Sortino Ratio Rank: 3
PGR Omega Ratio Rank: 5
PGR Calmar Ratio Rank: 0
PGR Martin Ratio Rank: 6

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.

FGF vs. PGR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fundamental Global Inc. (FGF) and The Progressive Corporation (PGR). 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.

	FGF	PGR	Difference
Sharpe ratio: Return per unit of total volatility	-0.59	-1.28	+0.69
Sortino ratio: Return per unit of downside risk	-1.38	-1.78	+0.41
Omega ratio: Gain probability vs. loss probability	0.83	0.80	+0.03
Calmar ratio: Return relative to maximum drawdown	-0.94	-1.01	+0.07
Martin ratio: Return relative to average drawdown	-1.12	-1.46	+0.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FGF vs. PGR - Sharpe Ratio Comparison

The current FGF Sharpe Ratio is -0.59, which is higher than the PGR Sharpe Ratio of -1.28. The chart below compares the historical Sharpe Ratios of FGF and PGR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FGF	PGR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.59	-1.28	+0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.62	0.68	-1.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.46	0.93	-1.39
Sharpe Ratio (All Time) Calculated using the full available price history	-0.44	0.58	-1.01

Drawdowns

FGF vs. PGR - Drawdown Comparison

The maximum FGF drawdown since its inception was -99.66%, which is greater than PGR's maximum drawdown of -71.06%. Use the drawdown chart below to compare losses from any high point for FGF and PGR.

Drawdown Indicators

	FGF	PGR	Difference
Max Drawdown Largest peak-to-trough decline	-99.66%	-71.06%	-28.60%
Max Drawdown (1Y) Largest decline over 1 year	-97.79%	-28.14%	-69.65%
Max Drawdown (3Y) Largest decline over 3 years	-98.21%	-30.35%	-67.86%
Max Drawdown (5Y) Largest decline over 5 years	-99.66%	-30.35%	-69.31%
Max Drawdown (10Y) Largest decline over 10 years	-99.66%	-30.35%	-69.31%
Current Drawdown Current decline from peak	-99.43%	-29.23%	-70.20%
Average Drawdown Average peak-to-trough decline	-52.46%	-14.53%	-37.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	81.62%	20.72%	+60.90%

Volatility

FGF vs. PGR - Volatility Comparison

Fundamental Global Inc. (FGF) has a higher volatility of 29.99% compared to The Progressive Corporation (PGR) at 5.82%. This indicates that FGF's price experiences larger fluctuations and is considered to be riskier than PGR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGF	PGR	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.99%	5.82%	+24.17%
Volatility (6M) Calculated over the trailing 6-month period	68.91%	16.25%	+52.66%
Volatility (1Y) Calculated over the trailing 1-year period	155.97%	22.23%	+133.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	103.46%	24.52%	+78.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.36%	24.43%	+58.93%

Dividends

FGF vs. PGR - Dividend Comparison

FGF has not paid dividends to shareholders, while PGR's dividend yield for the trailing twelve months is around 7.18%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGF Fundamental Global Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PGR The Progressive Corporation	7.18%	2.15%	0.48%	0.25%	0.31%	6.23%	2.68%	3.89%	1.86%	1.21%	2.50%	2.16%

Financials

Frequently Asked Questions

Can I hold both FGF and PGR in my portfolio?

FGF and PGR have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FGF or PGR?

FGF has higher volatility (29.99%) compared to PGR (5.82%). In terms of maximum drawdown, FGF dropped -99.66% vs PGR's -71.06%.

Which has better risk-adjusted returns?

FGF currently has the higher Sharpe Ratio (-0.59 vs -1.28), 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.