GWRE vs MRX: Correlation
Guidewire Software, Inc. (GWRE) and Marex Group Limited (MRX) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GWRE and MRX?
Over the past 3 years, GWRE and MRX moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.45) runs below the 3-year figure (-0.25). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -485.1 %².
Among the 18 assets we track against GWRE, MRX sits near the bottom by co-movement, at rank #17. Their recent paths diverged sharply: over the last 12 months MRX outperformed by 106.7 percentage points (-7.1% for GWRE against +99.6% for MRX).
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.
GWRE vs MRX: side by side
| GWRE (Guidewire Software, Inc.) | MRX (Marex Group Limited) | |
|---|---|---|
| 1-year return | -7.1% | +99.6% |
| 5-year return | +68.2% | n/a |
| Volatility (ann.) | 45.6% | 39.3% |
| Beta vs S&P 500 | 0.83 | 0.44 |
| Max drawdown (3Y) | -60.8% | -41.1% |
| Market cap | $16.7B | – |
| P/E (trailing) | 103.1 | 14.6 |
| Dividend yield | 0.00% | 1.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GWRE | MRX |
|---|---|---|
| 2022 | -44.9% | – |
| 2023 | +74.3% | – |
| 2024 | +54.6% | – |
| 2025 | +19.2% | +25.1% |
| 2026 | +0.0% | +87.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GWRE and MRX good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GWRE and MRX?
The GWRE/MRX correlation stands at -0.25 on a 3-year window (1 year: -0.45, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MRX a good diversifier for GWRE?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
A reading of -0.25 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: GWRE correlations · MRX correlations
