AXS vs HIG: Correlation
How closely do Axis Capital Holdings Limited (AXS) and Hartford (The) (HIG) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXS and HIG?
Across a 3-year window, the weekly returns of AXS and HIG correlate at 0.65, strong. Recent behaviour matches the longer record: 0.63 over 1 year against 0.65 over 3. Stretching to 5 years gives 0.66, with an annualized covariance of 292.3 %².
By 3-year correlation, HIG places #7 of the 23 assets tracked against AXS. Neither side won the trailing year by much: +1.5% against +5.4%.
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 HIG: side by side
| AXS (Axis Capital Holdings Limited) | HIG (Hartford (The)) | |
|---|---|---|
| 1-year return | +1.5% | +5.4% |
| 5-year return | +118.2% | +127.4% |
| Volatility (ann.) | 23.0% | 19.5% |
| Beta vs S&P 500 | 0.30 | 0.39 |
| Max drawdown (3Y) | -17.4% | -13.7% |
| Market cap | $7.2B | $37.3B |
| P/E (trailing) | 7.1 | 9.7 |
| Dividend yield | 1.76% | 1.66% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | AXS | HIG |
|---|---|---|
| 2022 | +2.6% | +12.3% |
| 2023 | +5.6% | +8.5% |
| 2024 | +63.9% | +38.5% |
| 2025 | +21.9% | +28.1% |
| 2026 | -6.7% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXS and HIG good diversifiers for each other?
Only partially. A correlation of 0.65 means AXS and HIG 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 AXS and HIG?
As of 2026-08-27, the correlation of weekly returns between AXS and HIG is 0.65 over 3 years, 0.63 over 1 year and 0.66 over 5 years.
Is HIG a good diversifier for AXS?
Only partially. A correlation of 0.65 means AXS and HIG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 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-hig.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/axs-vs-hig/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AXS correlations · HIG correlations
