BOW vs WRB: Correlation
Bowhead Specialty Holdings Inc. (BOW) and W. R. Berkley Corporation (WRB) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOW and WRB?
Across a 3-year window, the weekly returns of BOW and WRB correlate at 0.53, moderate. The link has loosened recently: the 1-year correlation (0.43) runs below the 3-year figure (0.53). Stretching to 5 years gives n/a, with an annualized covariance of 420.8 %².
Few assets follow BOW as closely as WRB, which ranks #3 of 16 tracked partners. On 12-month performance BOW holds a 9.0-point edge, +7.0% against -2.0%. Risk is not evenly split, since BOW carries 1.5 times the volatility of the other side.
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 WRB: side by side
| BOW (Bowhead Specialty Holdings Inc.) | WRB (W. R. Berkley Corporation) | |
|---|---|---|
| 1-year return | +7.0% | -2.0% |
| 5-year return | n/a | +130.5% |
| Volatility (ann.) | 34.6% | 22.5% |
| Beta vs S&P 500 | 0.37 | 0.19 |
| Max drawdown (3Y) | -49.1% | -17.6% |
| Market cap | $1.1B | $25.4B |
| P/E (trailing) | 18.2 | 14.1 |
| Dividend yield | 0.00% | 0.54% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | BOW | WRB |
|---|---|---|
| 2022 | – | +33.9% |
| 2023 | – | +0.2% |
| 2024 | – | +27.2% |
| 2025 | -19.7% | +23.0% |
| 2026 | +17.7% | -1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOW and WRB good diversifiers for each other?
Only partially. A correlation of 0.53 means BOW and WRB 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 BOW and WRB?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.43 over the last year and n/a over 5 years.
Is WRB a good diversifier for BOW?
Only partially. A correlation of 0.53 means BOW and WRB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: BOW correlations · WRB correlations
