EIG vs MCY: Correlation
Employers Holdings Inc (EIG) and Mercury General Corporation (MCY) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EIG and MCY?
On 3 years of weekly data the EIG/MCY correlation comes out at 0.55, moderate. Recent behaviour matches the longer record: 0.60 over 1 year against 0.55 over 3. The 5-year figure is 0.47, and annualized covariance runs at 450.8 %².
Within EIG's tracked universe of 19 assets, MCY comes in at #8 by 3-year correlation. The last year tells two different stories: MCY led by 17.4 percentage points, +16.7% for EIG against +34.1% for MCY. Note the risk asymmetry: MCY runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EIG vs MCY: side by side
| EIG (Employers Holdings Inc) | MCY (Mercury General Corporation) | |
|---|---|---|
| 1-year return | +16.7% | +34.1% |
| 5-year return | +43.2% | +99.9% |
| Volatility (ann.) | 22.8% | 35.8% |
| Beta vs S&P 500 | 0.32 | 0.75 |
| Max drawdown (3Y) | -31.3% | -40.0% |
| Market cap | $0.9B | – |
| P/E (trailing) | 62.1 | 6.2 |
| Dividend yield | 2.64% | 1.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EIG | MCY |
|---|---|---|
| 2022 | +12.6% | -32.6% |
| 2023 | -6.1% | +13.6% |
| 2024 | +33.4% | +82.3% |
| 2025 | -13.3% | +44.1% |
| 2026 | +16.2% | +9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EIG and MCY good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EIG and MCY?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.60 over the last year and 0.47 over 5 years.
Is MCY a good diversifier for EIG?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
A reading of 0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eig-vs-mcy.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eig-vs-mcy/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EIG correlations · MCY correlations
