LMND vs. PGR
LMND (Lemonade, Inc.) and PGR (The Progressive Corporation) are both stocks. Both operate in the Insurance - Property & Casualty industry within the Financial Services sector. Over the past 5 years, LMND returned -4.15%/yr vs 21.88%/yr for PGR. At a 0.11 correlation, their price movements are largely independent.
Performance
LMND vs. PGR - Performance Comparison
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Returns By Period
In the year-to-date period, LMND achieves a -0.79% return, which is significantly lower than PGR's 9.61% return.
LMND
- 1D
- 0.16%
- 1M
- 22.84%
- 6M
- -18.37%
- YTD
- -0.79%
- 1Y
- 84.97%
- 3Y*
- 55.75%
- 5Y*
- -4.15%
- 10Y*
- —
PGR
- 1D
- 1.63%
- 1M
- 15.50%
- 6M
- 8.41%
- YTD
- 9.61%
- 1Y
- 1.93%
- 3Y*
- 29.99%
- 5Y*
- 21.88%
- 10Y*
- 25.05%
LMND vs. PGR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
LMND Lemonade, Inc. | -0.79% | 94.06% | 127.40% | 17.91% | -67.51% | -65.62% | 144.71% |
PGR The Progressive Corporation | 9.61% | -3.02% | 51.39% | 23.16% | 26.81% | 10.84% | 24.20% |
Correlation
The correlation between LMND and PGR is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2020 | 0.11 |
The correlation between LMND and PGR shifts across timeframes, from 0.02 (1 year) to 0.14 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
LMND:
$5.43B
PGR:
$137.02B
LMND:
-$1.87
PGR:
$19.67
LMND:
6.37
PGR:
1.54
LMND:
$821.10M
PGR:
$89.43B
LMND:
$390.70M
PGR:
$25.44B
LMND:
-$120.70M
PGR:
$15.15B
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Return for Risk
LMND vs. PGR — Risk / Return Rank
LMND
PGR
LMND vs. PGR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lemonade, Inc. (LMND) 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.
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.
| LMND | PGR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.03 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 0.10 | +1.69 |
| Martin ratioReturn relative to average drawdown | 3.27 | 0.17 | +3.11 |
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Drawdowns
LMND vs. PGR - Drawdown Comparison
The maximum LMND drawdown since its inception was -94.23%, which is greater than PGR's maximum drawdown of -71.06%. Use the drawdown chart below to compare losses from any high point for LMND and PGR.
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Drawdown Indicators
| LMND | PGR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.23% | -71.06% | -23.17% |
Max Drawdown (1Y)Largest decline over 1 year | -47.70% | -19.79% | -27.91% |
Max Drawdown (3Y)Largest decline over 3 years | -56.10% | -30.35% | -25.75% |
Max Drawdown (5Y)Largest decline over 5 years | -88.54% | -30.35% | -58.19% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.35% | — |
Current DrawdownCurrent decline from peak | -61.46% | -14.19% | -47.27% |
Average DrawdownAverage peak-to-trough decline | -72.92% | -14.54% | -58.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.04% | 11.60% | +14.44% |
Volatility
LMND vs. PGR - Volatility Comparison
Lemonade, Inc. (LMND) has a higher volatility of 19.48% compared to The Progressive Corporation (PGR) at 8.30%. This indicates that LMND'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.
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Volatility by Period
| LMND | PGR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.48% | 8.30% | +11.18% |
Volatility (6M)Calculated over the trailing 6-month period | 54.56% | 17.97% | +36.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 84.25% | 23.34% | +60.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.41% | 24.78% | +57.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 86.34% | 24.58% | +61.76% |
Dividends
LMND vs. PGR - Dividend Comparison
LMND has not paid dividends to shareholders, while PGR's dividend yield for the trailing twelve months is around 5.93%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LMND Lemonade, 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 | 5.93% | 2.15% | 0.48% | 0.25% | 0.31% | 6.23% | 2.68% | 3.89% | 1.86% | 1.21% | 2.50% | 2.16% |
Financials
LMND vs. PGR - Financials Comparison
This section allows you to compare key financial metrics between Lemonade, Inc. and The Progressive 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
LMND vs. PGR - Profitability Comparison
LMND - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Lemonade, Inc. reported a gross profit of 101.10M and revenue of 234.40M. Therefore, the gross margin over that period was 43.1%.
PGR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, The Progressive Corporation reported a gross profit of 8.35B and revenue of 22.18B. Therefore, the gross margin over that period was 37.7%.
LMND - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Lemonade, Inc. reported an operating income of -34.60M and revenue of 234.40M, resulting in an operating margin of -14.8%.
PGR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, The Progressive Corporation reported an operating income of 3.57B and revenue of 22.18B, resulting in an operating margin of 16.1%.
LMND - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Lemonade, Inc. reported a net income of -35.80M and revenue of 234.40M, resulting in a net margin of -15.3%.
PGR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, The Progressive Corporation reported a net income of 2.82B and revenue of 22.18B, resulting in a net margin of 12.7%.
Frequently Asked Questions
LMND and PGR have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LMND has higher volatility (19.48%) compared to PGR (8.30%). In terms of maximum drawdown, LMND dropped -94.23% vs PGR's -71.06%.
LMND currently has the higher Sharpe Ratio (1.02 vs 0.08), 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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