AON vs VIP: Correlation
How closely do Aon plc (AON) and Vulcan Infrastructure and Power Inc. (VIP) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AON and VIP?
Across a 3-year window, the weekly returns of AON and VIP correlate at -0.19, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.10 over 1 year against -0.19 over 3. Stretching to 5 years gives 0.03, with an annualized covariance of -464.7 %².
Among the 32 assets we track against AON, VIP ranks #23 by 3-year correlation. The last year tells two different stories: VIP led by 41.2 percentage points, -4.6% for AON against +36.6% for VIP. Note the risk asymmetry: VIP runs 5.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AON vs VIP: side by side
| AON (Aon plc) | VIP (Vulcan Infrastructure and Power Inc.) | |
|---|---|---|
| 1-year return | -4.6% | +36.6% |
| 5-year return | +27.0% | -99.9% |
| Volatility (ann.) | 21.7% | 110.7% |
| Beta vs S&P 500 | 0.34 | 1.74 |
| Max drawdown (3Y) | -24.2% | -92.8% |
| Market cap | $74.2B | – |
| P/E (trailing) | 19.5 | 14.9 |
| Dividend yield | 0.86% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AON | VIP |
|---|---|---|
| 2022 | +0.6% | -98.2% |
| 2023 | -2.3% | +131.4% |
| 2024 | +24.5% | -76.9% |
| 2025 | -1.2% | -4.5% |
| 2026 | -0.5% | +20.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AON and VIP good diversifiers for each other?
Yes. With a correlation of -0.19, AON and VIP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AON and VIP?
The AON/VIP correlation stands at -0.19 on a 3-year window (1 year: -0.10, 5 years: 0.03), computed from weekly returns as of 2026-08-27.
Is VIP a good diversifier for AON?
Yes. With a correlation of -0.19, AON and VIP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 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.
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Related comparisons
Hubs: AON correlations · VIP correlations
