AXS vs SPNT: Correlation
How closely do Axis Capital Holdings Limited (AXS) and SiriusPoint Ltd. (SPNT) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXS and SPNT?
Over the past 3 years, AXS and SPNT moved with a correlation of 0.57, which is moderate. Recent behaviour matches the longer record: 0.63 over 1 year against 0.57 over 3. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 356.5 %².
Within AXS's tracked universe of 23 assets, SPNT comes in at #13 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPNT ahead by 27.8 points (+1.5% versus +29.3%).
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 SPNT: side by side
| AXS (Axis Capital Holdings Limited) | SPNT (SiriusPoint Ltd.) | |
|---|---|---|
| 1-year return | +1.5% | +29.3% |
| 5-year return | +118.2% | +141.9% |
| Volatility (ann.) | 23.0% | 27.4% |
| Beta vs S&P 500 | 0.30 | 0.37 |
| Max drawdown (3Y) | -17.4% | -16.3% |
| Market cap | $7.2B | $2.8B |
| P/E (trailing) | 7.1 | 5.9 |
| Dividend yield | 1.76% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXS | SPNT |
|---|---|---|
| 2022 | +2.6% | -27.4% |
| 2023 | +5.6% | +96.6% |
| 2024 | +63.9% | +41.3% |
| 2025 | +21.9% | +33.6% |
| 2026 | -6.7% | +10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXS and SPNT good diversifiers for each other?
Only partially. A correlation of 0.57 means AXS and SPNT 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 SPNT?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.63 over the last year and 0.47 over 5 years.
Is SPNT a good diversifier for AXS?
Only partially. A correlation of 0.57 means AXS and SPNT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
A reading of 0.57 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-spnt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/axs-vs-spnt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AXS correlations · SPNT correlations
