AJG vs QNCX: Correlation
Arthur J. Gallagher & Co. (AJG) and Quince Therapeutics, Inc. (QNCX) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AJG and QNCX?
Over the past 3 years, AJG and QNCX moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -592.3 %².
Among the 32 assets we track against AJG, QNCX ranks #25 by 3-year correlation. The last year tells two different stories: AJG led by 77.7 percentage points, -11.9% for AJG against -89.6% for QNCX. One caveat on sizing: QNCX is 4.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 QNCX: side by side
| AJG (Arthur J. Gallagher & Co.) | QNCX (Quince Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -11.9% | -89.6% |
| 5-year return | +91.1% | -99.8% |
| Volatility (ann.) | 25.0% | 111.4% |
| Beta vs S&P 500 | 0.36 | 0.55 |
| Max drawdown (3Y) | -44.4% | -98.2% |
| Market cap | $66.7B | – |
| P/E (trailing) | 43.1 | – |
| Dividend yield | 1.02% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AJG | QNCX |
|---|---|---|
| 2022 | +12.4% | -95.0% |
| 2023 | +20.5% | +64.8% |
| 2024 | +27.3% | +78.1% |
| 2025 | -8.0% | +79.1% |
| 2026 | +1.2% | -95.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AJG and QNCX good diversifiers for each other?
Yes. With a correlation of -0.21, AJG and QNCX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AJG and QNCX?
The AJG/QNCX correlation stands at -0.21 on a 3-year window (1 year: -0.21, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is QNCX a good diversifier for AJG?
Yes. With a correlation of -0.21, AJG and QNCX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/ajg-vs-qncx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ajg-vs-qncx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AJG correlations · QNCX correlations
