ERIE vs MRSH: Correlation
How closely do Erie Indemnity (ERIE) and Marsh McLennan (MRSH) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERIE and MRSH?
On 3 years of weekly data the ERIE/MRSH correlation comes out at 0.38, moderate. The link has tightened recently: the 1-year correlation (0.49) runs above the 3-year figure (0.38). The 5-year figure is 0.33, and annualized covariance runs at 210.6 %².
By 3-year correlation, MRSH places #17 of the 33 assets tracked against ERIE. Their recent paths diverged sharply: over the last 12 months MRSH outperformed by 18.5 percentage points (-24.5% for ERIE against -6.0% for MRSH). The rolling one-year correlation moved between 0.04 and 0.52 over the past three years, a moderate range. Note the risk asymmetry: ERIE runs 1.7 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.
ERIE vs MRSH: side by side
| ERIE (Erie Indemnity) | MRSH (Marsh McLennan) | |
|---|---|---|
| 1-year return | -24.5% | -6.0% |
| 5-year return | +61.3% | +31.3% |
| Volatility (ann.) | 30.3% | 18.1% |
| Beta vs S&P 500 | 0.37 | 0.33 |
| Max drawdown (3Y) | -60.9% | -34.4% |
| Market cap | $13.6B | $90.7B |
| P/E (trailing) | 23.4 | 23.6 |
| Dividend yield | 2.24% | 1.91% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | ERIE | MRSH |
|---|---|---|
| 2022 | +32.0% | -3.5% |
| 2023 | +37.3% | +16.1% |
| 2024 | +24.7% | +13.7% |
| 2025 | -29.4% | -11.3% |
| 2026 | -8.0% | +4.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERIE and MRSH good diversifiers for each other?
Reasonably. At 0.38, ERIE and MRSH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ERIE and MRSH?
As of 2026-08-27, the correlation of weekly returns between ERIE and MRSH is 0.38 over 3 years, 0.49 over 1 year and 0.33 over 5 years.
Is MRSH a good diversifier for ERIE?
Reasonably. At 0.38, ERIE and MRSH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
A reading of 0.38 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ERIE correlations · MRSH correlations
