BWIN vs TWFG: Correlation
How closely do The Baldwin Insurance Group, Inc. (BWIN) and TWFG, Inc. (TWFG) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWIN and TWFG?
Over the past 3 years, BWIN and TWFG moved with a correlation of 0.48, which is moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1211.5 %².
Few assets follow BWIN as closely as TWFG, which ranks #2 of 11 tracked partners. On 12-month performance TWFG holds a 10.6-point edge, -6.0% against +4.6%.
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.
BWIN vs TWFG: side by side
| BWIN (The Baldwin Insurance Group, Inc.) | TWFG (TWFG, Inc.) | |
|---|---|---|
| 1-year return | -6.0% | +4.6% |
| 5-year return | -13.5% | n/a |
| Volatility (ann.) | 54.6% | 43.1% |
| Beta vs S&P 500 | 0.60 | 0.36 |
| Max drawdown (3Y) | -70.2% | -52.7% |
| Market cap | $2.9B | $0.4B |
| P/E (trailing) | – | 52.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWIN | TWFG |
|---|---|---|
| 2022 | -30.4% | – |
| 2023 | -4.5% | – |
| 2024 | +61.4% | – |
| 2025 | -38.0% | -6.6% |
| 2026 | +25.5% | +1.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWIN and TWFG good diversifiers for each other?
Reasonably. At 0.48, BWIN and TWFG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BWIN and TWFG?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.50 over the last year and n/a over 5 years.
Is TWFG a good diversifier for BWIN?
Reasonably. At 0.48, BWIN and TWFG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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.
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Related comparisons
Hubs: BWIN correlations · TWFG correlations
