AJG vs MA: Correlation
Measured on weekly returns over the past three years, Arthur J. Gallagher & Co. (AJG) and Mastercard (MA) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AJG and MA?
Across a 3-year window, the weekly returns of AJG and MA correlate at 0.51, moderate. The past 12 months show a tighter link (0.62) than the 3-year average (0.51). Stretching to 5 years gives 0.50, with an annualized covariance of 246.2 %².
Among the 32 assets we track against AJG, MA ranks #13 by 3-year correlation. Over the last 12 months MA came out ahead by 12.7 percentage points (-11.9% against +0.8%). Across three years, the rolling one-year figure varied moderately, from 0.19 to 0.69.
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 MA: side by side
| AJG (Arthur J. Gallagher & Co.) | MA (Mastercard) | |
|---|---|---|
| 1-year return | -11.9% | +0.8% |
| 5-year return | +91.1% | +72.6% |
| Volatility (ann.) | 25.0% | 19.3% |
| Beta vs S&P 500 | 0.36 | 0.77 |
| Max drawdown (3Y) | -44.4% | -20.9% |
| Market cap | $66.7B | $518.4B |
| P/E (trailing) | 43.1 | 32.9 |
| Dividend yield | 1.02% | 0.56% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | AJG | MA |
|---|---|---|
| 2022 | +12.4% | -2.7% |
| 2023 | +20.5% | +23.4% |
| 2024 | +27.3% | +24.2% |
| 2025 | -8.0% | +9.0% |
| 2026 | +1.2% | +4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AJG and MA good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AJG and MA?
As of 2026-08-27, the correlation of weekly returns between AJG and MA is 0.51 over 3 years, 0.62 over 1 year and 0.50 over 5 years.
Is MA a good diversifier for AJG?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
A reading of 0.51 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-ma.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ajg-vs-ma/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AJG correlations · MA correlations
