AJG vs RYAN: Correlation
How closely do Arthur J. Gallagher & Co. (AJG) and Ryan Specialty Holdings, Inc. (RYAN) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AJG and RYAN?
Across a 3-year window, the weekly returns of AJG and RYAN correlate at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Stretching to 5 years gives 0.52, with an annualized covariance of 494.2 %².
Among the 32 assets we track against AJG, RYAN ranks #5 by 3-year correlation. Over the last 12 months AJG came out ahead by 11.4 percentage points (-11.9% against -23.3%).
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 RYAN: side by side
| AJG (Arthur J. Gallagher & Co.) | RYAN (Ryan Specialty Holdings, Inc.) | |
|---|---|---|
| 1-year return | -11.9% | -23.3% |
| 5-year return | +91.1% | +36.6% |
| Volatility (ann.) | 25.0% | 33.3% |
| Beta vs S&P 500 | 0.36 | 0.36 |
| Max drawdown (3Y) | -44.4% | -60.9% |
| Market cap | $66.7B | $17.0B |
| P/E (trailing) | 43.1 | 58.8 |
| Dividend yield | 1.02% | 1.16% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AJG | RYAN |
|---|---|---|
| 2022 | +12.4% | +2.9% |
| 2023 | +20.5% | +3.6% |
| 2024 | +27.3% | +50.9% |
| 2025 | -8.0% | -18.9% |
| 2026 | +1.2% | -14.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AJG and RYAN good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AJG and RYAN?
The AJG/RYAN correlation stands at 0.59 on a 3-year window (1 year: 0.58, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is RYAN a good diversifier for AJG?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 mean?
A reading of 0.59 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-ryan.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ajg-vs-ryan/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AJG correlations · RYAN correlations
