AFG vs WRB: Correlation
American Financial Group, Inc. (AFG) and W. R. Berkley Corporation (WRB) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFG and WRB?
Over the past 3 years, AFG and WRB moved with a correlation of 0.57, which is moderate. Recent behaviour matches the longer record: 0.64 over 1 year against 0.57 over 3. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 248.1 %².
Within AFG's tracked universe of 19 assets, WRB comes in at #10 by 3-year correlation. The trailing year gives AFG the advantage: +10.4% versus -2.0%, a 12.4-point spread.
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.
AFG vs WRB: side by side
| AFG (American Financial Group, Inc.) | WRB (W. R. Berkley Corporation) | |
|---|---|---|
| 1-year return | +10.4% | -2.0% |
| 5-year return | +56.7% | +130.5% |
| Volatility (ann.) | 19.5% | 22.5% |
| Beta vs S&P 500 | 0.43 | 0.19 |
| Max drawdown (3Y) | -19.8% | -17.6% |
| Market cap | $11.8B | $25.4B |
| P/E (trailing) | 12.7 | 14.1 |
| Dividend yield | 2.43% | 0.54% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | AFG | WRB |
|---|---|---|
| 2022 | +10.9% | +33.9% |
| 2023 | -7.6% | +0.2% |
| 2024 | +23.8% | +27.2% |
| 2025 | +5.4% | +23.0% |
| 2026 | +7.7% | -1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFG and WRB good diversifiers for each other?
Only partially. A correlation of 0.57 means AFG and WRB 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 AFG and WRB?
As of 2026-08-27, the correlation of weekly returns between AFG and WRB is 0.57 over 3 years, 0.64 over 1 year and 0.62 over 5 years.
Is WRB a good diversifier for AFG?
Only partially. A correlation of 0.57 means AFG and WRB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 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
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Related comparisons
Hubs: AFG correlations · WRB correlations
