ACGL vs AXS: Correlation
Measured on weekly returns over the past three years, Arch Capital Group (ACGL) and Axis Capital Holdings Limited (AXS) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACGL and AXS?
Across a 3-year window, the weekly returns of ACGL and AXS correlate at 0.66, strong. Lately the two have moved closer together, with the 1-year correlation at 0.77 versus 0.66 over 3 years. Stretching to 5 years gives 0.61, with an annualized covariance of 327.4 %².
AXS is one of the assets that tracks ACGL most closely: it ranks #1 out of the 36 assets we track against ACGL. On 12-month performance ACGL holds a 6.2-point edge, +7.7% against +1.5%.
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 AXS: side by side
| ACGL (Arch Capital Group) | AXS (Axis Capital Holdings Limited) | |
|---|---|---|
| 1-year return | +7.7% | +1.5% |
| 5-year return | +151.8% | +118.2% |
| Volatility (ann.) | 21.5% | 23.0% |
| Beta vs S&P 500 | 0.28 | 0.30 |
| Max drawdown (3Y) | -22.4% | -17.4% |
| Market cap | $33.7B | $7.2B |
| P/E (trailing) | 7.9 | 7.1 |
| Dividend yield | 0.00% | 1.76% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | ACGL | AXS |
|---|---|---|
| 2022 | +41.2% | +2.6% |
| 2023 | +18.3% | +5.6% |
| 2024 | +30.8% | +63.9% |
| 2025 | +3.9% | +21.9% |
| 2026 | +3.0% | -6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACGL and AXS good diversifiers for each other?
Only partially. A correlation of 0.66 means ACGL and AXS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ACGL and AXS?
The ACGL/AXS correlation stands at 0.66 on a 3-year window (1 year: 0.77, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is AXS a good diversifier for ACGL?
Only partially. A correlation of 0.66 means ACGL and AXS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acgl-vs-axs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/acgl-vs-axs/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ACGL correlations · AXS correlations
