AXS vs MKL: Correlation
Axis Capital Holdings Limited (AXS) and Markel Group Inc. (MKL) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXS and MKL?
Over the past 3 years, AXS and MKL moved with a correlation of 0.72, which is strong. Recent behaviour matches the longer record: 0.71 over 1 year against 0.72 over 3. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 348.8 %².
MKL is one of the assets that tracks AXS most closely: it ranks #1 out of the 23 assets we track against AXS. The trailing year gives AXS the advantage: +1.5% versus -7.8%, a 9.3-point spread.
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 MKL: side by side
| AXS (Axis Capital Holdings Limited) | MKL (Markel Group Inc.) | |
|---|---|---|
| 1-year return | +1.5% | -7.8% |
| 5-year return | +118.2% | +43.0% |
| Volatility (ann.) | 23.0% | 21.0% |
| Beta vs S&P 500 | 0.30 | 0.44 |
| Max drawdown (3Y) | -17.4% | -20.1% |
| Market cap | $7.2B | $22.4B |
| P/E (trailing) | 7.1 | 10.0 |
| Dividend yield | 1.76% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXS | MKL |
|---|---|---|
| 2022 | +2.6% | +6.8% |
| 2023 | +5.6% | +7.8% |
| 2024 | +63.9% | +21.6% |
| 2025 | +21.9% | +24.5% |
| 2026 | -6.7% | -16.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXS and MKL good diversifiers for each other?
Only partially. A correlation of 0.72 means AXS and MKL 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 MKL?
As of 2026-08-27, the correlation of weekly returns between AXS and MKL is 0.72 over 3 years, 0.71 over 1 year and 0.63 over 5 years.
Is MKL a good diversifier for AXS?
Only partially. A correlation of 0.72 means AXS and MKL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 mean?
On the −1 to +1 scale, 0.72 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-mkl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/axs-vs-mkl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AXS correlations · MKL correlations
