BOW vs PLGO: Correlation
Measured on weekly returns over the past three years, Bowhead Specialty Holdings Inc. (BOW) and Pelagos Insurance Capital Limited (PLGO) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOW and PLGO?
Across a 3-year window, the weekly returns of BOW and PLGO correlate at 0.46, moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 436.3 %².
Within BOW's tracked universe of 16 assets, PLGO comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PLGO ahead by 37.1 points (+7.0% versus +44.1%).
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.
BOW vs PLGO: side by side
| BOW (Bowhead Specialty Holdings Inc.) | PLGO (Pelagos Insurance Capital Limited) | |
|---|---|---|
| 1-year return | +7.0% | +44.1% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 34.6% | 29.5% |
| Beta vs S&P 500 | 0.37 | 0.43 |
| Max drawdown (3Y) | -49.1% | -29.9% |
| Market cap | $1.1B | $2.1B |
| P/E (trailing) | 18.2 | 6.1 |
| Dividend yield | 0.00% | 2.45% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOW | PLGO |
|---|---|---|
| 2024 | – | +46.3% |
| 2025 | -19.7% | +9.4% |
| 2026 | +17.7% | +26.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOW and PLGO good diversifiers for each other?
Reasonably. At 0.46, BOW and PLGO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BOW and PLGO?
As of 2026-08-27, the correlation of weekly returns between BOW and PLGO is 0.46 over 3 years, 0.45 over 1 year and n/a over 5 years.
Is PLGO a good diversifier for BOW?
Reasonably. At 0.46, BOW and PLGO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 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/bow-vs-plgo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bow-vs-plgo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BOW correlations · PLGO correlations
