TRV vs. CBOE
TRV (The Travelers Companies, Inc.) and CBOE (Cboe Global Markets, Inc.) are both stocks. Both are in the Financial Services sector — TRV in Insurance - Property & Casualty, CBOE in Financial Data & Stock Exchanges. Over the past 10 years, TRV returned 15.11%/yr vs 16.91%/yr for CBOE. At a 0.27 correlation, their price movements are largely independent.
Performance
TRV vs. CBOE - Performance Comparison
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Returns By Period
In the year-to-date period, TRV achieves a 34.56% return, which is significantly higher than CBOE's 14.09% return. Over the past 10 years, TRV has underperformed CBOE with an annualized return of 15.11%, while CBOE has yielded a comparatively higher 16.91% annualized return.
TRV
- 1D
- 2.89%
- 1M
- 20.74%
- 6M
- 40.54%
- YTD
- 34.56%
- 1Y
- 50.17%
- 3Y*
- 33.40%
- 5Y*
- 23.61%
- 10Y*
- 15.11%
- ALL TIME*
- 11.98%
CBOE
- 1D
- 0.07%
- 1M
- 14.22%
- 6M
- 3.61%
- YTD
- 14.09%
- 1Y
- 17.14%
- 3Y*
- 27.33%
- 5Y*
- 20.45%
- 10Y*
- 16.91%
- ALL TIME*
- 16.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $291.27M | $335.05M | $415.23M | |
| $860.04M | $698.10M | $576.77M |
TRV vs. CBOE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRV The Travelers Companies, Inc. | 34.56% | 22.38% | 28.76% | 3.93% | 22.42% | 13.96% | 5.31% | 17.00% | -9.64% | 13.36% |
CBOE Cboe Global Markets, Inc. | 14.09% | 29.96% | 10.74% | 44.37% | -2.16% | 42.23% | -21.17% | 24.16% | -20.60% | 70.49% |
Correlation
The correlation between TRV and CBOE is 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2010 | 0.27 |
The correlation between TRV and CBOE shifts across timeframes, from 0.08 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.
Fundamentals
TRV:
$80.77B
CBOE:
$29.83B
TRV:
$37.59
CBOE:
$11.77
TRV:
10.30
CBOE:
24.23
TRV:
0.48
CBOE:
0.45
TRV:
1.75
CBOE:
6.24
TRV:
2.50
CBOE:
5.57
TRV:
$48.98B
CBOE:
$4.79B
TRV:
$17.01B
CBOE:
$2.50B
TRV:
$11.31B
CBOE:
$1.87B
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Return for Risk
TRV vs. CBOE — Risk / Return Rank
TRV
CBOE
TRV vs. CBOE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Travelers Companies, Inc. (TRV) and Cboe Global Markets, Inc. (CBOE). 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.
| TRV | CBOE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.91 | ||
| Sortino ratioReturn per unit of downside risk | +2.73 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.13 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 6.07 | 0.47 | +5.60 |
| Martin ratioReturn relative to average drawdown | 15.56 | 1.56 | +14.00 |
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Drawdowns
TRV vs. CBOE - Drawdown Comparison
The maximum TRV drawdown since its inception was -55.11%, which is greater than CBOE's maximum drawdown of -43.23%. Use the drawdown chart below to compare losses from any high point for TRV and CBOE.
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Drawdown Indicators
| TRV | CBOE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.11% | -43.23% | -11.88% |
Max Drawdown (1Y)Largest decline over 1 year | -8.31% | -36.73% | +28.42% |
Max Drawdown (3Y)Largest decline over 3 years | -12.47% | -36.73% | +24.26% |
Max Drawdown (5Y)Largest decline over 5 years | -18.90% | -36.73% | +17.83% |
Max Drawdown (10Y)Largest decline over 10 years | -46.28% | -43.23% | -3.05% |
Current DrawdownCurrent decline from peak | 0.00% | -22.10% | +22.10% |
Average DrawdownAverage peak-to-trough decline | -11.07% | -11.52% | +0.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 10.98% | -7.74% |
Volatility
TRV vs. CBOE - Volatility Comparison
The Travelers Companies, Inc. (TRV) and Cboe Global Markets, Inc. (CBOE) have volatilities of 10.69% and 10.75%, 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
| TRV | CBOE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.69% | 10.75% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 15.94% | 28.42% | -12.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.48% | 31.21% | -10.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.18% | 24.05% | -1.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.61% | 25.78% | -1.17% |
Dividends
TRV vs. CBOE - Dividend Comparison
TRV's dividend yield for the trailing twelve months is around 1.17%, more than CBOE's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBOE Cboe Global Markets, Inc. | 1.01% | 1.08% | 1.21% | 1.18% | 1.56% | 1.38% | 1.68% | 1.12% | 1.19% | 0.83% | 1.30% | 1.36% |
TRV The Travelers Companies, Inc. | 1.17% | 1.50% | 1.72% | 2.06% | 1.96% | 2.23% | 2.40% | 2.36% | 2.53% | 2.09% | 2.14% | 2.11% |
Financials
TRV vs. CBOE - Financials Comparison
This section allows you to compare key financial metrics between The Travelers Companies, Inc. and Cboe Global Markets, 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
TRV vs. CBOE - Profitability Comparison
TRV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, The Travelers Companies, Inc. reported a gross profit of 4.45B and revenue of 12.15B. Therefore, the gross margin over that period was 36.6%.
CBOE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Cboe Global Markets, Inc. reported a gross profit of 669.90M and revenue of 1.27B. Therefore, the gross margin over that period was 52.6%.
TRV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, The Travelers Companies, Inc. reported an operating income of 2.88B and revenue of 12.15B, resulting in an operating margin of 23.7%.
CBOE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Cboe Global Markets, Inc. reported an operating income of 505.60M and revenue of 1.27B, resulting in an operating margin of 39.7%.
TRV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, The Travelers Companies, Inc. reported a net income of 2.21B and revenue of 12.15B, resulting in a net margin of 18.2%.
CBOE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Cboe Global Markets, Inc. reported a net income of 385.70M and revenue of 1.27B, resulting in a net margin of 30.3%.
Frequently Asked Questions
TRV and CBOE have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CBOE has higher volatility (10.75%) compared to TRV (10.69%). In terms of maximum drawdown, TRV dropped -55.11% vs CBOE's -43.23%.
TRV currently has the higher Sharpe Ratio (2.47 vs 0.55), 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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