AFL vs AXS: Correlation
How closely do Aflac (AFL) and Axis Capital Holdings Limited (AXS) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFL and AXS?
Across a 3-year window, the weekly returns of AFL and AXS correlate at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Stretching to 5 years gives 0.59, with an annualized covariance of 258.8 %².
Among the 32 assets we track against AFL, AXS ranks #11 by 3-year correlation. The trailing year gives AFL the advantage: +10.8% versus +1.5%, a 9.3-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.
AFL vs AXS: side by side
| AFL (Aflac) | AXS (Axis Capital Holdings Limited) | |
|---|---|---|
| 1-year return | +10.8% | +1.5% |
| 5-year return | +131.3% | +118.2% |
| Volatility (ann.) | 19.2% | 23.0% |
| Beta vs S&P 500 | 0.36 | 0.30 |
| Max drawdown (3Y) | -13.6% | -17.4% |
| Market cap | $58.4B | $7.2B |
| P/E (trailing) | 12.6 | 7.1 |
| Dividend yield | 2.03% | 1.76% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AFL | AXS |
|---|---|---|
| 2022 | +26.4% | +2.6% |
| 2023 | +17.4% | +5.6% |
| 2024 | +28.1% | +63.9% |
| 2025 | +8.9% | +21.9% |
| 2026 | +7.4% | -6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFL and AXS good diversifiers for each other?
Only partially. A correlation of 0.59 means AFL 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 AFL and AXS?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.55 over the last year and 0.59 over 5 years.
Is AXS a good diversifier for AFL?
Only partially. A correlation of 0.59 means AFL 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 0.59 mean?
A reading of 0.59 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/afl-vs-axs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/afl-vs-axs/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AFL correlations · AXS correlations
