BRO vs MRSH: Correlation
How closely do Brown & Brown (BRO) and Marsh McLennan (MRSH) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRO and MRSH?
Over the past 3 years, BRO and MRSH moved with a correlation of 0.74, which is strong. Recent behaviour matches the longer record: 0.73 over 1 year against 0.74 over 3. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 325.1 %².
MRSH is one of the assets that tracks BRO most closely: it ranks #2 out of the 35 assets we track against BRO. Their recent paths diverged sharply: over the last 12 months MRSH outperformed by 19.0 percentage points (-25.0% for BRO against -6.0% for MRSH). The rolling one-year correlation stayed in a tight band between 0.60 and 0.80 over the past three years, which points to a structural rather than episodic relationship.
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.
BRO vs MRSH: side by side
| BRO (Brown & Brown) | MRSH (Marsh McLennan) | |
|---|---|---|
| 1-year return | -25.0% | -6.0% |
| 5-year return | +27.5% | +31.3% |
| Volatility (ann.) | 24.4% | 18.1% |
| Beta vs S&P 500 | 0.39 | 0.33 |
| Max drawdown (3Y) | -55.8% | -34.4% |
| Market cap | $23.9B | $90.7B |
| P/E (trailing) | 23.3 | 23.6 |
| Dividend yield | 0.89% | 1.91% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | BRO | MRSH |
|---|---|---|
| 2022 | -18.4% | -3.5% |
| 2023 | +25.7% | +16.1% |
| 2024 | +44.3% | +13.7% |
| 2025 | -21.4% | -11.3% |
| 2026 | -9.7% | +4.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRO and MRSH good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BRO and MRSH?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.73 over the last year and 0.76 over 5 years.
Is MRSH a good diversifier for BRO?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 mean?
A reading of 0.74 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BRO correlations · MRSH correlations
