AJG vs BRO: Correlation
Measured on weekly returns over the past three years, Arthur J. Gallagher & Co. (AJG) and Brown & Brown (BRO) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AJG and BRO?
Across a 3-year window, the weekly returns of AJG and BRO correlate at 0.80, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.80 over 1 year against 0.80 over 3. Stretching to 5 years gives 0.78, with an annualized covariance of 487.6 %².
Few assets follow AJG as closely as BRO, which ranks #1 of 32 tracked partners. On 12-month performance AJG holds a 13.1-point edge, -11.9% against -25.0%. Across three years, the rolling one-year figure varied moderately, from 0.53 to 0.84.
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.
AJG vs BRO: side by side
| AJG (Arthur J. Gallagher & Co.) | BRO (Brown & Brown) | |
|---|---|---|
| 1-year return | -11.9% | -25.0% |
| 5-year return | +91.1% | +27.5% |
| Volatility (ann.) | 25.0% | 24.4% |
| Beta vs S&P 500 | 0.36 | 0.39 |
| Max drawdown (3Y) | -44.4% | -55.8% |
| Market cap | $66.7B | $23.9B |
| P/E (trailing) | 43.1 | 23.3 |
| Dividend yield | 1.02% | 0.89% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | AJG | BRO |
|---|---|---|
| 2022 | +12.4% | -18.4% |
| 2023 | +20.5% | +25.7% |
| 2024 | +27.3% | +44.3% |
| 2025 | -8.0% | -21.4% |
| 2026 | +1.2% | -9.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AJG and BRO good diversifiers for each other?
No. With a correlation of 0.80, AJG and BRO move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between AJG and BRO?
As of 2026-08-27, the correlation of weekly returns between AJG and BRO is 0.80 over 3 years, 0.80 over 1 year and 0.78 over 5 years.
Is BRO a good diversifier for AJG?
No. With a correlation of 0.80, AJG and BRO move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.80 mean?
A reading of 0.80 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/ajg-vs-bro.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ajg-vs-bro/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AJG correlations · BRO correlations
