PGR vs. BTAL
PGR (The Progressive Corporation) is a stock, while BTAL (AGF U.S. Market Neutral Anti-Beta Fund) is Equity Market Neutral fund actively managed by AGF. Over the past 10 years, PGR returned 23.82%/yr vs -4.60%/yr for BTAL. At a correlation of -0.07, they often move in opposite directions.
Performance
PGR vs. BTAL - Performance Comparison
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Returns By Period
In the year-to-date period, PGR achieves a -0.79% return, which is significantly higher than BTAL's -15.84% return. Over the past 10 years, PGR has outperformed BTAL with an annualized return of 23.82%, while BTAL has yielded a comparatively lower -4.60% annualized return.
PGR
- 1D
- 2.06%
- 1M
- 3.64%
- 6M
- 4.97%
- YTD
- -0.79%
- 1Y
- -8.28%
- 3Y*
- 23.12%
- 5Y*
- 20.34%
- 10Y*
- 23.82%
- ALL TIME*
- 16.86%
BTAL
- 1D
- 0.00%
- 1M
- 10.49%
- 6M
- -12.25%
- YTD
- -15.84%
- 1Y
- -25.57%
- 3Y*
- -9.44%
- 5Y*
- -4.30%
- 10Y*
- -4.60%
- ALL TIME*
- -3.86%
PGR vs. BTAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGR The Progressive Corporation | -0.79% | -3.02% | 51.39% | 23.16% | 26.81% | 10.84% | 41.48% | 25.14% | 9.39% | 61.59% |
BTAL AGF U.S. Market Neutral Anti-Beta Fund | -15.84% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.13% | -2.13% |
Correlation
The correlation between PGR and BTAL is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2011 | -0.07 |
The correlation between PGR and BTAL shifts across timeframes, from -0.07 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PGR vs. BTAL — Risk / Return Rank
PGR
BTAL
PGR vs. BTAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Progressive Corporation (PGR) and AGF U.S. Market Neutral Anti-Beta Fund (BTAL). 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.
| PGR | BTAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +1.30 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.83 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | -0.74 | +0.32 |
| Martin ratioReturn relative to average drawdown | -0.71 | -1.39 | +0.68 |
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Drawdowns
PGR vs. BTAL - Drawdown Comparison
The maximum PGR drawdown since its inception was -71.06%, which is greater than BTAL's maximum drawdown of -52.70%. Use the drawdown chart below to compare losses from any high point for PGR and BTAL.
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Drawdown Indicators
| PGR | BTAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.06% | -52.70% | -18.36% |
Max Drawdown (1Y)Largest decline over 1 year | -19.79% | -34.57% | +14.78% |
Max Drawdown (3Y)Largest decline over 3 years | -30.35% | -47.83% | +17.48% |
Max Drawdown (5Y)Largest decline over 5 years | -30.35% | -47.83% | +17.48% |
Max Drawdown (10Y)Largest decline over 10 years | -30.35% | -52.70% | +22.35% |
Current DrawdownCurrent decline from peak | -22.33% | -47.55% | +25.22% |
Average DrawdownAverage peak-to-trough decline | -14.55% | -22.19% | +7.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.71% | 18.40% | -6.69% |
Volatility
PGR vs. BTAL - Volatility Comparison
The Progressive Corporation (PGR) has a higher volatility of 14.04% compared to AGF U.S. Market Neutral Anti-Beta Fund (BTAL) at 7.95%. This indicates that PGR's price experiences larger fluctuations and is considered to be riskier than BTAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGR | BTAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.04% | 7.95% | +6.09% |
Volatility (6M)Calculated over the trailing 6-month period | 20.19% | 17.50% | +2.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.34% | 23.51% | +1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.16% | 19.27% | +5.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.79% | 17.40% | +7.39% |
Dividends
PGR vs. BTAL - Dividend Comparison
PGR's dividend yield for the trailing twelve months is around 6.55%, more than BTAL's 2.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | 2.96% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% | 0.00% | 0.00% | 0.00% |
PGR The Progressive Corporation | 6.55% | 2.15% | 0.48% | 0.25% | 0.31% | 6.23% | 2.68% | 3.89% | 1.86% | 1.21% | 2.50% | 2.16% |
Frequently Asked Questions
PGR and BTAL have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGR has higher volatility (14.04%) compared to BTAL (7.95%). In terms of maximum drawdown, PGR dropped -71.06% vs BTAL's -52.70%.
PGR currently has the higher Sharpe Ratio (-0.33 vs -1.09), 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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