ACGL vs AON: Correlation
Measured on weekly returns over the past three years, Arch Capital Group (ACGL) and Aon plc (AON) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACGL and AON?
On 3 years of weekly data the ACGL/AON correlation comes out at 0.49, moderate. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. The 5-year figure is 0.43, and annualized covariance runs at 226.9 %².
By 3-year correlation, AON places #17 of the 36 assets tracked against ACGL. Over the last 12 months ACGL came out ahead by 12.3 percentage points (+7.7% against -4.6%). The rolling one-year correlation moved between 0.22 and 0.67 over the past three years, a moderate range.
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 AON: side by side
| ACGL (Arch Capital Group) | AON (Aon plc) | |
|---|---|---|
| 1-year return | +7.7% | -4.6% |
| 5-year return | +151.8% | +27.0% |
| Volatility (ann.) | 21.5% | 21.7% |
| Beta vs S&P 500 | 0.28 | 0.34 |
| Max drawdown (3Y) | -22.4% | -24.2% |
| Market cap | $33.7B | $74.2B |
| P/E (trailing) | 7.9 | 19.5 |
| Dividend yield | 0.00% | 0.86% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | ACGL | AON |
|---|---|---|
| 2022 | +41.2% | +0.6% |
| 2023 | +18.3% | -2.3% |
| 2024 | +30.8% | +24.5% |
| 2025 | +3.9% | -1.2% |
| 2026 | +3.0% | -0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACGL and AON good diversifiers for each other?
Reasonably. At 0.49, ACGL and AON keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ACGL and AON?
The ACGL/AON correlation stands at 0.49 on a 3-year window (1 year: 0.59, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is AON a good diversifier for ACGL?
Reasonably. At 0.49, ACGL and AON keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acgl-vs-aon.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/acgl-vs-aon/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ACGL correlations · AON correlations
