ERIE vs GSHD: Correlation
How closely do Erie Indemnity (ERIE) and Goosehead Insurance, Inc. (GSHD) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERIE and GSHD?
Over the past 3 years, ERIE and GSHD moved with a correlation of 0.43, which is moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.43 over 3. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 721.7 %².
Among the 33 assets we track against ERIE, GSHD ranks #5 by 3-year correlation. On 12-month performance GSHD holds a 6.0-point edge, -24.5% against -18.5%. One caveat on sizing: GSHD is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ERIE vs GSHD: side by side
| ERIE (Erie Indemnity) | GSHD (Goosehead Insurance, Inc.) | |
|---|---|---|
| 1-year return | -24.5% | -18.5% |
| 5-year return | +61.3% | -47.2% |
| Volatility (ann.) | 30.3% | 55.1% |
| Beta vs S&P 500 | 0.37 | 0.42 |
| Max drawdown (3Y) | -60.9% | -72.2% |
| Market cap | $13.6B | $2.5B |
| P/E (trailing) | 23.4 | 51.4 |
| Dividend yield | 2.24% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | ERIE | GSHD |
|---|---|---|
| 2022 | +32.0% | -73.6% |
| 2023 | +37.3% | +120.7% |
| 2024 | +24.7% | +41.5% |
| 2025 | -29.4% | -27.4% |
| 2026 | -8.0% | -4.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERIE and GSHD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ERIE and GSHD?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.50 over the last year and 0.34 over 5 years.
Is GSHD a good diversifier for ERIE?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/erie-vs-gshd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/erie-vs-gshd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ERIE correlations · GSHD correlations
