RGA vs. PGR
RGA (Reinsurance Group of America, Incorporated) and PGR (The Progressive Corporation) are both stocks. Both are in the Financial Services sector — RGA in Insurance - Reinsurance, PGR in Insurance - Property & Casualty. Over the past 10 years, RGA returned 9.26%/yr vs 22.74%/yr for PGR. At a 0.48 correlation, their price movements are largely independent.
Performance
RGA vs. PGR - Performance Comparison
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Returns By Period
In the year-to-date period, RGA achieves a -3.28% return, which is significantly higher than PGR's -9.60% return. Over the past 10 years, RGA has underperformed PGR with an annualized return of 9.26%, while PGR has yielded a comparatively higher 22.74% annualized return.
RGA
- 1D
- -1.64%
- 1M
- -7.20%
- YTD
- -3.28%
- 6M
- 3.95%
- 1Y
- -2.40%
- 3Y*
- 12.31%
- 5Y*
- 10.99%
- 10Y*
- 9.26%
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%
RGA vs. PGR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RGA Reinsurance Group of America, Incorporated | -3.28% | -2.97% | 34.38% | 16.39% | 33.04% | -3.21% | -27.02% | 18.29% | -8.71% | 25.59% |
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 RGA and PGR is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2008 | 0.48 |
The correlation between RGA and PGR shifts across timeframes, from 0.35 (1 year) to 0.48 (all time), reflecting how their relationship changes across market environments.
Fundamentals
RGA:
$17.91
PGR:
$19.23
RGA:
10.89
PGR:
10.06
RGA:
0.41
PGR:
0.08
RGA:
0.54
PGR:
1.30
RGA:
$18.13B
PGR:
$87.65B
RGA:
$3.15B
PGR:
$23.23B
RGA:
$1.46B
PGR:
$14.81B
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Return for Risk
RGA vs. PGR — Risk / Return Rank
RGA
PGR
RGA vs. PGR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Reinsurance Group of America, Incorporated (RGA) 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.
| RGA | PGR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.17 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.80 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | -1.01 | +0.84 |
| Martin ratioReturn relative to average drawdown | -0.37 | -1.46 | +1.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RGA | PGR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.10 | -1.28 | +1.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.68 | -0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.93 | -0.65 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.58 | -0.27 |
Drawdowns
RGA vs. PGR - Drawdown Comparison
The maximum RGA drawdown since its inception was -65.75%, smaller than the maximum PGR drawdown of -71.06%. Use the drawdown chart below to compare losses from any high point for RGA and PGR.
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Drawdown Indicators
| RGA | PGR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.75% | -71.06% | +5.31% |
Max Drawdown (1Y)Largest decline over 1 year | -14.06% | -28.14% | +14.08% |
Max Drawdown (3Y)Largest decline over 3 years | -27.11% | -30.35% | +3.24% |
Max Drawdown (5Y)Largest decline over 5 years | -27.11% | -30.35% | +3.24% |
Max Drawdown (10Y)Largest decline over 10 years | -65.75% | -30.35% | -35.40% |
Current DrawdownCurrent decline from peak | -13.56% | -29.23% | +15.67% |
Average DrawdownAverage peak-to-trough decline | -11.64% | -14.53% | +2.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.50% | 20.72% | -14.22% |
Volatility
RGA vs. PGR - Volatility Comparison
Reinsurance Group of America, Incorporated (RGA) and The Progressive Corporation (PGR) have volatilities of 5.85% and 5.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RGA | PGR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.85% | 5.82% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 16.38% | 16.25% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.30% | 22.23% | +1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.83% | 24.52% | +3.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.92% | 24.43% | +8.49% |
Dividends
RGA vs. PGR - Dividend Comparison
RGA's dividend yield for the trailing twelve months is around 1.91%, less than PGR's 7.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
RGA Reinsurance Group of America, Incorporated | 1.91% | 1.79% | 1.63% | 2.04% | 2.15% | 2.61% | 2.42% | 1.59% | 1.57% | 1.17% | 1.24% | 1.64% |
Financials
RGA vs. PGR - Financials Comparison
This section allows you to compare key financial metrics between Reinsurance Group of America, Incorporated 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
RGA vs. PGR - Profitability Comparison
RGA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Reinsurance Group of America, Incorporated reported a gross profit of 0.00 and revenue of 6.49M. Therefore, the gross margin over that period was 0.0%.
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%.
RGA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Reinsurance Group of America, Incorporated reported an operating income of 441.00K and revenue of 6.49M, resulting in an operating margin of 6.8%.
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%.
RGA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Reinsurance Group of America, Incorporated reported a net income of 331.00K and revenue of 6.49M, resulting in a net margin of 5.1%.
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%.
Frequently Asked Questions
RGA and PGR have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RGA has higher volatility (5.85%) compared to PGR (5.82%). In terms of maximum drawdown, RGA dropped -65.75% vs PGR's -71.06%.
RGA currently has the higher Sharpe Ratio (-0.10 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.
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