AXS vs CHRW: Correlation
Axis Capital Holdings Limited (AXS) and C.H. Robinson (CHRW) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXS and CHRW?
On 3 years of weekly data the AXS/CHRW correlation comes out at 0.35, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. The 5-year figure is 0.33, and annualized covariance runs at 289.8 %².
Within AXS's tracked universe of 23 assets, CHRW comes in at #18 by 3-year correlation. The last year tells two different stories: CHRW led by 18.4 percentage points, +1.5% for AXS against +19.9% for CHRW. Note the risk asymmetry: CHRW runs 1.6 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.
AXS vs CHRW: side by side
| AXS (Axis Capital Holdings Limited) | CHRW (C.H. Robinson) | |
|---|---|---|
| 1-year return | +1.5% | +19.9% |
| 5-year return | +118.2% | +86.8% |
| Volatility (ann.) | 23.0% | 35.7% |
| Beta vs S&P 500 | 0.30 | 0.69 |
| Max drawdown (3Y) | -17.4% | -32.4% |
| Market cap | $7.2B | $17.7B |
| P/E (trailing) | 7.1 | 29.0 |
| Dividend yield | 1.76% | 1.65% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | AXS | CHRW |
|---|---|---|
| 2022 | +2.6% | -13.1% |
| 2023 | +5.6% | -3.1% |
| 2024 | +63.9% | +22.9% |
| 2025 | +21.9% | +59.0% |
| 2026 | -6.7% | -5.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXS and CHRW good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AXS and CHRW?
As of 2026-08-27, the correlation of weekly returns between AXS and CHRW is 0.35 over 3 years, 0.43 over 1 year and 0.33 over 5 years.
Is CHRW a good diversifier for AXS?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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/axs-vs-chrw.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/axs-vs-chrw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AXS correlations · CHRW correlations
