AIG vs AXS: Correlation
How closely do American International Group (AIG) and Axis Capital Holdings Limited (AXS) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIG and AXS?
Across a 3-year window, the weekly returns of AIG and AXS correlate at 0.57, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.57 over 3. Stretching to 5 years gives 0.60, with an annualized covariance of 265.9 %².
By 3-year correlation, AXS places #7 of the 28 assets tracked against AIG. Over the last 12 months AXS came out ahead by 6.1 percentage points (-4.6% 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.
AIG vs AXS: side by side
| AIG (American International Group) | AXS (Axis Capital Holdings Limited) | |
|---|---|---|
| 1-year return | -4.6% | +1.5% |
| 5-year return | +58.9% | +118.2% |
| Volatility (ann.) | 20.1% | 23.0% |
| Beta vs S&P 500 | 0.46 | 0.30 |
| Max drawdown (3Y) | -17.0% | -17.4% |
| Market cap | $40.1B | $7.2B |
| P/E (trailing) | 14.0 | 7.1 |
| Dividend yield | 2.40% | 1.76% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AIG | AXS |
|---|---|---|
| 2022 | +13.8% | +2.6% |
| 2023 | +9.8% | +5.6% |
| 2024 | +9.8% | +63.9% |
| 2025 | +20.0% | +21.9% |
| 2026 | -9.3% | -6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIG and AXS good diversifiers for each other?
Only partially. A correlation of 0.57 means AIG 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 AIG and AXS?
As of 2026-08-27, the correlation of weekly returns between AIG and AXS is 0.57 over 3 years, 0.49 over 1 year and 0.60 over 5 years.
Is AXS a good diversifier for AIG?
Only partially. A correlation of 0.57 means AIG 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 0.57 mean?
On the −1 to +1 scale, 0.57 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/aig-vs-axs.json
Markdown for the live badge, attribution link included:
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Related comparisons
Hubs: AIG correlations · AXS correlations
