AJG vs RLI: Correlation
Measured on weekly returns over the past three years, Arthur J. Gallagher & Co. (AJG) and RLI Corp. (RLI) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AJG and RLI?
Across a 3-year window, the weekly returns of AJG and RLI correlate at 0.53, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. Stretching to 5 years gives 0.50, with an annualized covariance of 296.9 %².
By 3-year correlation, RLI places #11 of the 32 assets tracked against AJG. On 12-month performance RLI holds a 13.8-point edge, -11.9% against +1.9%.
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 RLI: side by side
| AJG (Arthur J. Gallagher & Co.) | RLI (RLI Corp.) | |
|---|---|---|
| 1-year return | -11.9% | +1.9% |
| 5-year return | +91.1% | +46.7% |
| Volatility (ann.) | 25.0% | 22.2% |
| Beta vs S&P 500 | 0.36 | 0.18 |
| Max drawdown (3Y) | -44.4% | -43.5% |
| Market cap | $66.7B | $5.9B |
| P/E (trailing) | 43.1 | 13.5 |
| Dividend yield | 1.02% | 1.02% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AJG | RLI |
|---|---|---|
| 2022 | +12.4% | +24.8% |
| 2023 | +20.5% | +3.8% |
| 2024 | +27.3% | +27.6% |
| 2025 | -8.0% | -19.1% |
| 2026 | +1.2% | +5.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AJG and RLI good diversifiers for each other?
Only partially. A correlation of 0.53 means AJG and RLI 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 AJG and RLI?
The AJG/RLI correlation stands at 0.53 on a 3-year window (1 year: 0.46, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is RLI a good diversifier for AJG?
Only partially. A correlation of 0.53 means AJG and RLI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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-rli.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ajg-vs-rli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AJG correlations · RLI correlations
