TNE.AX vs. PGR

Last updated Jun 4, 2026

TNE.AX (Technology One Limited) and PGR (The Progressive Corporation) are both stocks. TNE.AX operates in Software - Application (Technology), while PGR operates in Insurance - Property & Casualty (Financial Services). Over the past 10 years, TNE.AX returned 21.57%/yr vs 23.15%/yr for PGR. At a 0.01 correlation, their price movements are largely independent.

Performance

TNE.AX vs. PGR - Performance Comparison

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

Different Trading Currencies

TNE.AX is traded in AUD, while PGR is traded in USD. To make them comparable, the PGR values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, TNE.AX achieves a 18.27% return, which is significantly higher than PGR's -15.38% return. Over the past 10 years, TNE.AX has underperformed PGR with an annualized return of 21.57%, while PGR has yielded a comparatively higher 23.15% annualized return.

TNE.AX

• 1D: 0.52%
• 1M: 17.93%
• YTD: 18.27%
• 6M: 12.86%
• 1Y: -19.23%
• 3Y*: 27.32%
• 5Y*: 31.83%
• 10Y*: 21.57%

PGR

• 1D: -1.25%
• 1M: -2.38%
• YTD: -15.38%
• 6M: -16.09%
• 1Y: -34.95%
• 3Y*: 14.85%
• 5Y*: 18.55%
• 10Y*: 23.15%

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

TNE.AX vs. PGR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TNE.AX Technology One Limited	18.27%	-9.64%	105.47%	18.43%	3.96%	58.21%	0.33%	36.45%	26.70%	-10.50%
PGR The Progressive Corporation	-15.38%	-10.06%	66.63%	23.25%	35.19%	17.34%	29.06%	25.72%	21.12%	49.28%

Correlation

The correlation between TNE.AX and PGR is -0.04, 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	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.00
Correlation (10Y) Calculated over the trailing 10-year period	0.01
Correlation (All Time) Calculated using the full available price history since Jul 2, 2007	0.02

Return for Risk

TNE.AX vs. PGR — Risk / Return Rank

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

TNE.AX

TNE.AX Risk / Return Rank: 24
TNE.AX Sharpe Ratio Rank: 21
TNE.AX Sortino Ratio Rank: 21
TNE.AX Omega Ratio Rank: 21
TNE.AX Calmar Ratio Rank: 29
TNE.AX Martin Ratio Rank: 28

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.

TNE.AX vs. PGR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Technology One Limited (TNE.AX) 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.

	TNE.AX	PGR	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	-1.48	+1.01
Sortino ratio: Return per unit of downside risk	-0.41	-2.17	+1.76
Omega ratio: Gain probability vs. loss probability	0.94	0.76	+0.18
Calmar ratio: Return relative to maximum drawdown	-0.37	-1.01	+0.64
Martin ratio: Return relative to average drawdown	-0.72	-1.53	+0.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TNE.AX vs. PGR - Sharpe Ratio Comparison

The current TNE.AX Sharpe Ratio is -0.47, which is higher than the PGR Sharpe Ratio of -1.48. The chart below compares the historical Sharpe Ratios of TNE.AX 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

	TNE.AX	PGR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.47	-1.48	+1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.01	0.73	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.93	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.63	-0.18

Drawdowns

TNE.AX vs. PGR - Drawdown Comparison

The maximum TNE.AX drawdown since its inception was -85.40%, which is greater than PGR's maximum drawdown of -38.60%. Use the drawdown chart below to compare losses from any high point for TNE.AX and PGR.

Drawdown Indicators

	TNE.AX	PGR	Difference
Max Drawdown Largest peak-to-trough decline	-85.40%	-38.60%	-46.80%
Max Drawdown (1Y) Largest decline over 1 year	-52.18%	-34.89%	-17.29%
Max Drawdown (3Y) Largest decline over 3 years	-52.18%	-38.16%	-14.02%
Max Drawdown (5Y) Largest decline over 5 years	-52.18%	-38.16%	-14.02%
Max Drawdown (10Y) Largest decline over 10 years	-52.18%	-38.16%	-14.02%
Current Drawdown Current decline from peak	-21.60%	-36.88%	+15.28%
Average Drawdown Average peak-to-trough decline	-22.60%	-9.54%	-13.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.78%	24.32%	+2.46%

Volatility

TNE.AX vs. PGR - Volatility Comparison

Technology One Limited (TNE.AX) has a higher volatility of 12.49% compared to The Progressive Corporation (PGR) at 6.55%. This indicates that TNE.AX'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

	TNE.AX	PGR	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.49%	6.55%	+5.94%
Volatility (6M) Calculated over the trailing 6-month period	33.04%	17.53%	+15.51%
Volatility (1Y) Calculated over the trailing 1-year period	40.75%	23.74%	+17.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.37%	25.55%	+5.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.84%	25.01%	+5.83%

Dividends

TNE.AX vs. PGR - Dividend Comparison

TNE.AX's dividend yield for the trailing twelve months is around 1.15%, 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%
TNE.AX Technology One Limited	1.15%	1.31%	0.72%	1.27%	1.30%	1.09%	1.57%	1.44%	1.79%	2.06%	1.67%	1.77%

Financials

Frequently Asked Questions

Can I hold both TNE.AX and PGR in my portfolio?

TNE.AX and PGR have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.