BRO vs WTW: Correlation
Measured on weekly returns over the past three years, Brown & Brown (BRO) and Willis Towers Watson (WTW) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRO and WTW?
On 3 years of weekly data the BRO/WTW correlation comes out at 0.65, strong. Recent behaviour matches the longer record: 0.73 over 1 year against 0.65 over 3. The 5-year figure is 0.63, and annualized covariance runs at 375.5 %².
In BRO's tracked universe of 35 assets, WTW sits right near the top at #3. Correlation aside, the last 12 months split them widely, with WTW ahead by 29.2 points (-25.0% versus +4.2%). The rolling one-year correlation moved between 0.39 and 0.73 over the past three years, a moderate range.
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 WTW: side by side
| BRO (Brown & Brown) | WTW (Willis Towers Watson) | |
|---|---|---|
| 1-year return | -25.0% | +4.2% |
| 5-year return | +27.5% | +68.3% |
| Volatility (ann.) | 24.4% | 23.5% |
| Beta vs S&P 500 | 0.39 | 0.32 |
| Max drawdown (3Y) | -55.8% | -30.4% |
| Market cap | $23.9B | $31.5B |
| P/E (trailing) | 23.3 | 21.2 |
| Dividend yield | 0.89% | 0.55% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | BRO | WTW |
|---|---|---|
| 2022 | -18.4% | +4.5% |
| 2023 | +25.7% | +0.1% |
| 2024 | +44.3% | +31.5% |
| 2025 | -21.4% | +6.1% |
| 2026 | -9.7% | +4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRO and WTW good diversifiers for each other?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BRO and WTW?
As of 2026-08-27, the correlation of weekly returns between BRO and WTW is 0.65 over 3 years, 0.73 over 1 year and 0.63 over 5 years.
Is WTW a good diversifier for BRO?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 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/bro-vs-wtw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bro-vs-wtw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BRO correlations · WTW correlations
