PGR vs. FN

Last updated Jun 9, 2026

PGR (The Progressive Corporation) and FN (Fabrinet) are both stocks. PGR operates in Insurance - Property & Casualty (Financial Services), while FN operates in Electronic Components (Technology). Over the past 10 years, PGR returned 23.25%/yr vs 32.80%/yr for FN. At a 0.19 correlation, their price movements are largely independent.

Performance

PGR vs. FN - Performance Comparison

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

Returns By Period

In the year-to-date period, PGR achieves a -6.42% return, which is significantly lower than FN's 36.99% return. Over the past 10 years, PGR has underperformed FN with an annualized return of 23.25%, while FN has yielded a comparatively higher 32.80% annualized return.

PGR

• 1D: -1.84%
• 1M: 3.23%
• YTD: -6.42%
• 6M: -4.51%
• 1Y: -23.65%
• 3Y*: 18.74%
• 5Y*: 18.76%
• 10Y*: 23.25%

FN

• 1D: 0.40%
• 1M: 0.39%
• YTD: 36.99%
• 6M: 27.02%
• 1Y: 165.46%
• 3Y*: 76.72%
• 5Y*: 45.90%
• 10Y*: 32.80%

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

PGR vs. FN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGR The Progressive Corporation	-6.42%	-3.02%	51.39%	23.16%	26.81%	10.84%	41.48%	25.14%	9.39%	61.59%
FN Fabrinet	36.99%	107.06%	15.53%	48.44%	8.23%	52.69%	19.66%	26.37%	78.78%	-28.78%

Correlation

The correlation between PGR and FN is -0.20, 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	-0.20
Correlation (3Y) Calculated over the trailing 3-year period	-0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Jun 28, 2010	0.19

The correlation between PGR and FN shifts across timeframes, from -0.20 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.

Fundamentals

EPS PGR : $19.23 FN : $11.65
PE Ratio PGR : 10.41 FN : 53.55
PEG Ratio PGR : 0.08 FN : 2.29
PS Ratio PGR : 1.34 FN : 5.32
Total Revenue (TTM) PGR : $87.65B FN : $4.24B
Gross Profit (TTM) PGR : $23.23B FN : $509.75M
EBITDA (TTM) PGR : $14.81B FN : $422.55M

Return for Risk

PGR vs. FN — Risk / Return Rank

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

PGR

PGR Risk / Return Rank: 6
PGR Sharpe Ratio Rank: 4
PGR Sortino Ratio Rank: 7
PGR Omega Ratio Rank: 9
PGR Calmar Ratio Rank: 4
PGR Martin Ratio Rank: 7

FN

FN Risk / Return Rank: 91
FN Sharpe Ratio Rank: 93
FN Sortino Ratio Rank: 86
FN Omega Ratio Rank: 86
FN Calmar Ratio Rank: 96
FN Martin Ratio Rank: 95

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.

PGR vs. FN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Progressive Corporation (PGR) and Fabrinet (FN). 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.

	PGR	FN	Difference
Sharpe ratio: Return per unit of total volatility	-1.04	2.50	-3.54
Sortino ratio: Return per unit of downside risk	-1.41	2.67	-4.09
Omega ratio: Gain probability vs. loss probability	0.84	1.36	-0.52
Calmar ratio: Return relative to maximum drawdown	-0.94	8.10	-9.04
Martin ratio: Return relative to average drawdown	-1.43	19.43	-20.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PGR vs. FN - Sharpe Ratio Comparison

The current PGR Sharpe Ratio is -1.04, which is lower than the FN Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of PGR and FN, 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

	PGR	FN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.04	2.50	-3.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.86	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.95	0.68	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.59	-0.01

Drawdowns

PGR vs. FN - Drawdown Comparison

The maximum PGR drawdown since its inception was -71.06%, roughly equal to the maximum FN drawdown of -70.46%. Use the drawdown chart below to compare losses from any high point for PGR and FN.

Drawdown Indicators

	PGR	FN	Difference
Max Drawdown Largest peak-to-trough decline	-71.06%	-70.46%	-0.60%
Max Drawdown (1Y) Largest decline over 1 year	-25.27%	-20.55%	-4.72%
Max Drawdown (3Y) Largest decline over 3 years	-30.35%	-37.47%	+7.12%
Max Drawdown (5Y) Largest decline over 5 years	-30.35%	-38.70%	+8.35%
Max Drawdown (10Y) Largest decline over 10 years	-30.35%	-51.11%	+20.76%
Current Drawdown Current decline from peak	-26.74%	-16.45%	-10.29%
Average Drawdown Average peak-to-trough decline	-14.53%	-22.58%	+8.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.79%	8.55%	+10.24%

Volatility

PGR vs. FN - Volatility Comparison

The current volatility for The Progressive Corporation (PGR) is 7.57%, while Fabrinet (FN) has a volatility of 25.81%. This indicates that PGR experiences smaller price fluctuations and is considered to be less risky than FN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGR	FN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.57%	25.81%	-18.24%
Volatility (6M) Calculated over the trailing 6-month period	16.95%	55.79%	-38.84%
Volatility (1Y) Calculated over the trailing 1-year period	22.76%	66.78%	-44.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.55%	53.58%	-29.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.48%	48.27%	-23.79%

Dividends

PGR vs. FN - Dividend Comparison

PGR's dividend yield for the trailing twelve months is around 6.94%, while FN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FN Fabrinet	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	6.94%	2.15%	0.48%	0.25%	0.31%	6.23%	2.68%	3.89%	1.86%	1.21%	2.50%	2.16%

Financials

PGR vs. FN - Profitability Comparison

The chart below illustrates the profitability comparison between The Progressive Corporation and Fabrinet over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

PGR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Progressive Corporation reported a gross profit of 6.66B and revenue of 22.74B. Therefore, the gross margin over that period was 29.3%.

FN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Fabrinet reported a gross profit of 144.34M and revenue of 1.21B. Therefore, the gross margin over that period was 11.9%.

PGR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Progressive Corporation reported an operating income of 3.68B and revenue of 22.74B, resulting in an operating margin of 16.2%.

FN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Fabrinet reported an operating income of 120.04M and revenue of 1.21B, resulting in an operating margin of 9.9%.

PGR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Progressive Corporation reported a net income of 2.95B and revenue of 22.74B, resulting in a net margin of 13.0%.

FN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Fabrinet reported a net income of 128.18M and revenue of 1.21B, resulting in a net margin of 10.6%.

Frequently Asked Questions

Can I hold both PGR and FN in my portfolio?

PGR and FN have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGR or FN?

FN has higher volatility (25.81%) compared to PGR (7.57%). In terms of maximum drawdown, PGR dropped -71.06% vs FN's -70.46%.

Which has better risk-adjusted returns?

FN currently has the higher Sharpe Ratio (2.50 vs -1.04), 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.