CBOE vs MRSH: Correlation
Measured on weekly returns over the past three years, Cboe Global Markets (CBOE) and Marsh McLennan (MRSH) carry a correlation of 0.24, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBOE and MRSH?
On 3 years of weekly data the CBOE/MRSH correlation comes out at 0.24, weak. The relationship has been stable: the 1-year correlation (0.18) sits close to the 3-year figure. The 5-year figure is 0.32, and annualized covariance runs at 112.8 %².
By 3-year correlation, MRSH places #16 of the 39 assets tracked against CBOE. Correlation aside, the last 12 months split them widely, with CBOE ahead by 38.5 points (+32.5% versus -6.0%). On a rolling one-year basis the correlation drifted between 0.10 and 0.57, a moderate band.
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.
CBOE vs MRSH: side by side
| CBOE (Cboe Global Markets) | MRSH (Marsh McLennan) | |
|---|---|---|
| 1-year return | +32.5% | -6.0% |
| 5-year return | +168.0% | +31.3% |
| Volatility (ann.) | 26.1% | 18.1% |
| Beta vs S&P 500 | 0.09 | 0.33 |
| Max drawdown (3Y) | -36.7% | -34.4% |
| Market cap | $32.8B | $90.7B |
| P/E (trailing) | 24.5 | 23.6 |
| Dividend yield | 0.92% | 1.91% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | CBOE | MRSH |
|---|---|---|
| 2022 | -2.2% | -3.5% |
| 2023 | +44.4% | +16.1% |
| 2024 | +10.7% | +13.7% |
| 2025 | +29.2% | -11.3% |
| 2026 | +25.7% | +4.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBOE and MRSH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CBOE and MRSH?
Using weekly returns as of 2026-08-27: 0.24 over 3 years, with 0.18 over the last year and 0.32 over 5 years.
Is MRSH a good diversifier for CBOE?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.24 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.
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Related comparisons
Hubs: CBOE correlations · MRSH correlations
