ACGL vs AJG: Correlation
Measured on weekly returns over the past three years, Arch Capital Group (ACGL) and Arthur J. Gallagher & Co. (AJG) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACGL and AJG?
Over the past 3 years, ACGL and AJG moved with a correlation of 0.52, which is moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.52 over 3. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 282.3 %².
By 3-year correlation, AJG places #16 of the 36 assets tracked against ACGL. Correlation aside, the last 12 months split them widely, with ACGL ahead by 19.6 points (+7.7% versus -11.9%). On a rolling one-year basis the correlation drifted between 0.43 and 0.71, a moderate band.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ACGL vs AJG: side by side
| ACGL (Arch Capital Group) | AJG (Arthur J. Gallagher & Co.) | |
|---|---|---|
| 1-year return | +7.7% | -11.9% |
| 5-year return | +151.8% | +91.1% |
| Volatility (ann.) | 21.5% | 25.0% |
| Beta vs S&P 500 | 0.28 | 0.36 |
| Max drawdown (3Y) | -22.4% | -44.4% |
| Market cap | $33.7B | $66.7B |
| P/E (trailing) | 7.9 | 43.1 |
| Dividend yield | 0.00% | 1.02% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | ACGL | AJG |
|---|---|---|
| 2022 | +41.2% | +12.4% |
| 2023 | +18.3% | +20.5% |
| 2024 | +30.8% | +27.3% |
| 2025 | +3.9% | -8.0% |
| 2026 | +3.0% | +1.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACGL and AJG good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ACGL and AJG?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.49 over the last year and 0.49 over 5 years.
Is AJG a good diversifier for ACGL?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acgl-vs-ajg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acgl-vs-ajg/)
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Related comparisons
Hubs: ACGL correlations · AJG correlations
