AJG vs RELL: Correlation
Measured on weekly returns over the past three years, Arthur J. Gallagher & Co. (AJG) and Richardson Electronics, Ltd. (RELL) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AJG and RELL?
Over the past 3 years, AJG and RELL moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.42) than the 3-year average (-0.23). Over 5 years the correlation is -0.02, and the annualized covariance of weekly returns is -241.7 %².
Among the 32 assets we track against AJG, RELL sits near the bottom by co-movement, at rank #28. Their recent paths diverged sharply: over the last 12 months RELL outperformed by 97.5 percentage points (-11.9% for AJG against +85.6% for RELL). Risk is not evenly split, since RELL carries 1.7 times the volatility of the other side.
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 RELL: side by side
| AJG (Arthur J. Gallagher & Co.) | RELL (Richardson Electronics, Ltd.) | |
|---|---|---|
| 1-year return | -11.9% | +85.6% |
| 5-year return | +91.1% | +131.1% |
| Volatility (ann.) | 25.0% | 42.1% |
| Beta vs S&P 500 | 0.36 | 0.78 |
| Max drawdown (3Y) | -44.4% | -45.1% |
| Market cap | $66.7B | $0.3B |
| P/E (trailing) | 43.1 | 40.0 |
| Dividend yield | 1.02% | 1.35% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AJG | RELL |
|---|---|---|
| 2022 | +12.4% | +60.3% |
| 2023 | +20.5% | -36.4% |
| 2024 | +27.3% | +7.4% |
| 2025 | -8.0% | -20.6% |
| 2026 | +1.2% | +67.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AJG and RELL good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AJG and RELL?
As of 2026-08-27, the correlation of weekly returns between AJG and RELL is -0.23 over 3 years, -0.42 over 1 year and -0.02 over 5 years.
Is RELL a good diversifier for AJG?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ajg-vs-rell.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ajg-vs-rell/)
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Related comparisons
Hubs: AJG correlations · RELL correlations
