AXS vs CB: Correlation
Axis Capital Holdings Limited (AXS) and Chubb Limited (CB) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXS and CB?
On 3 years of weekly data the AXS/CB correlation comes out at 0.63, strong. Little has changed lately, as the 1-year reading of 0.70 lands near the 3-year figure. The 5-year figure is 0.62, and annualized covariance runs at 255.3 %².
Within AXS's tracked universe of 23 assets, CB comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CB ahead by 23.2 points (+1.5% versus +24.7%).
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.
AXS vs CB: side by side
| AXS (Axis Capital Holdings Limited) | CB (Chubb Limited) | |
|---|---|---|
| 1-year return | +1.5% | +24.7% |
| 5-year return | +118.2% | +96.8% |
| Volatility (ann.) | 23.0% | 17.7% |
| Beta vs S&P 500 | 0.30 | 0.17 |
| Max drawdown (3Y) | -17.4% | -14.4% |
| Market cap | $7.2B | $130.5B |
| P/E (trailing) | 7.1 | 12.2 |
| Dividend yield | 1.76% | 1.14% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | AXS | CB |
|---|---|---|
| 2022 | +2.6% | +16.0% |
| 2023 | +5.6% | +4.2% |
| 2024 | +63.9% | +23.9% |
| 2025 | +21.9% | +13.7% |
| 2026 | -6.7% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXS and CB good diversifiers for each other?
To a limited degree. At 0.63 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 AXS and CB?
As of 2026-08-27, the correlation of weekly returns between AXS and CB is 0.63 over 3 years, 0.70 over 1 year and 0.62 over 5 years.
Is CB a good diversifier for AXS?
To a limited degree. At 0.63 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 0.63 mean?
A reading of 0.63 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/axs-vs-cb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/axs-vs-cb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AXS correlations · CB correlations
