TNL vs. THG
TNL (Travel + Leisure Co.) and THG (The Hanover Insurance Group, Inc.) are both stocks. TNL operates in Travel Services (Consumer Cyclical), while THG operates in Insurance - Property & Casualty (Financial Services). Over the past 10 years, TNL returned 13.38%/yr vs 14.31%/yr for THG. Their 0.43 correlation means their historical movements had little consistent relationship.
Performance
TNL vs. THG - Performance Comparison
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Returns By Period
In the year-to-date period, TNL achieves a 9.60% return, which is significantly lower than THG's 28.60% return. Over the past 10 years, TNL has underperformed THG with an annualized return of 13.38%, while THG has yielded a comparatively higher 14.31% annualized return.
TNL
- 1D
- 1.13%
- 1M
- -0.74%
- 6M
- 11.16%
- YTD
- 9.60%
- 1Y
- 34.58%
- 3Y*
- 28.32%
- 5Y*
- 12.28%
- 10Y*
- 13.38%
- ALL TIME*
- 11.35%
THG
- 1D
- 1.10%
- 1M
- 4.97%
- 6M
- 34.97%
- YTD
- 28.60%
- 1Y
- 40.63%
- 3Y*
- 30.08%
- 5Y*
- 13.98%
- 10Y*
- 14.31%
- ALL TIME*
- 9.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $76.18M | $77.60M | $67.12M | |
| $81.71M | $64.38M | $60.40M |
TNL vs. THG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TNL Travel + Leisure Co. | 9.60% | 45.46% | 34.76% | 12.51% | -31.67% | 25.95% | -8.59% | 50.09% | -29.47% | 55.45% |
THG The Hanover Insurance Group, Inc. | 28.60% | 20.66% | 30.61% | -7.61% | 5.40% | 14.51% | -12.31% | 26.73% | 10.15% | 21.41% |
Correlation
The correlation between TNL and THG is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.26 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.31 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.36 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2006 | 0.43 |
Over the past year, the correlation between TNL and THG has dropped to 0.22 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.
Fundamentals
TNL:
$4.66B
THG:
$8.10B
TNL:
$3.68
THG:
$27.73
TNL:
20.66
THG:
8.39
TNL:
9.20
THG:
0.03
TNL:
1.20
THG:
0.94
TNL:
$4.09B
THG:
$6.76B
TNL:
$1.85B
THG:
$1.19B
TNL:
$701.00M
THG:
$1.01B
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Return for Risk
TNL vs. THG — Risk / Return Rank
TNL
THG
TNL vs. THG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Travel + Leisure Co. (TNL) and The Hanover Insurance Group, Inc. (THG). 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.
| TNL | THG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.32 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 3.85 | -2.29 |
| Martin ratioReturn relative to average drawdown | 4.24 | 8.98 | -4.73 |
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Drawdowns
TNL vs. THG - Drawdown Comparison
The maximum TNL drawdown since its inception was -92.23%, roughly equal to the maximum THG drawdown of -89.84%. Use the drawdown chart below to compare losses from any high point for TNL and THG.
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Drawdown Indicators
| TNL | THG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.23% | -89.84% | -2.39% |
Max Drawdown (1Y)Largest decline over 1 year | -21.06% | -10.02% | -11.04% |
Max Drawdown (3Y)Largest decline over 3 years | -32.18% | -13.98% | -18.20% |
Max Drawdown (5Y)Largest decline over 5 years | -43.71% | -30.35% | -13.36% |
Max Drawdown (10Y)Largest decline over 10 years | -68.07% | -40.10% | -27.97% |
Current DrawdownCurrent decline from peak | -3.10% | 0.00% | -3.10% |
Average DrawdownAverage peak-to-trough decline | -20.50% | -22.56% | +2.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.72% | 4.28% | +3.44% |
Volatility
TNL vs. THG - Volatility Comparison
Travel + Leisure Co. (TNL) has a higher volatility of 9.79% compared to The Hanover Insurance Group, Inc. (THG) at 8.06%. This indicates that TNL's price experiences larger fluctuations and is considered to be riskier than THG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TNL | THG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.79% | 8.06% | +1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 26.73% | 15.81% | +10.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.90% | 21.04% | +14.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.91% | 22.83% | +14.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.92% | 24.21% | +17.71% |
Dividends
TNL vs. THG - Dividend Comparison
TNL's dividend yield for the trailing twelve months is around 3.05%, more than THG's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
THG The Hanover Insurance Group, Inc. | 1.61% | 2.00% | 2.23% | 2.70% | 2.26% | 2.17% | 2.27% | 7.10% | 1.90% | 1.89% | 2.07% | 2.08% |
TNL Travel + Leisure Co. | 3.05% | 3.18% | 3.96% | 4.60% | 4.40% | 2.26% | 3.57% | 3.48% | 170.40% | 2.00% | 2.62% | 2.31% |
Financials
TNL vs. THG - Financials Comparison
This section allows you to compare key financial metrics between Travel + Leisure Co. and The Hanover Insurance Group, Inc.. 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
TNL vs. THG - Profitability Comparison
TNL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Travel + Leisure Co. reported a gross profit of 606.00M and revenue of 1.06B. Therefore, the gross margin over that period was 57.0%.
THG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, The Hanover Insurance Group, Inc. reported a gross profit of -743.80M and revenue of 1.73B. Therefore, the gross margin over that period was -43.1%.
TNL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Travel + Leisure Co. reported an operating income of 210.00M and revenue of 1.06B, resulting in an operating margin of 19.8%.
THG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, The Hanover Insurance Group, Inc. reported an operating income of 141.10M and revenue of 1.73B, resulting in an operating margin of 8.2%.
TNL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Travel + Leisure Co. reported a net income of 109.00M and revenue of 1.06B, resulting in a net margin of 10.3%.
THG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, The Hanover Insurance Group, Inc. reported a net income of 191.60M and revenue of 1.73B, resulting in a net margin of 11.1%.
Frequently Asked Questions
TNL and THG have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TNL has higher volatility (9.79%) compared to THG (8.06%). In terms of maximum drawdown, TNL dropped -92.23% vs THG's -89.84%.
THG currently has the higher Sharpe Ratio (1.86 vs 0.92), 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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