MKL vs WTM: Correlation
Markel Group Inc. (MKL) and White Mountains Insurance Group, Ltd. (WTM) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MKL and WTM?
Across a 3-year window, the weekly returns of MKL and WTM correlate at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Stretching to 5 years gives 0.40, with an annualized covariance of 215.0 %².
Among the 12 assets we track against MKL, WTM ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WTM outperformed by 23.1 percentage points (-7.8% for MKL against +15.3% for WTM).
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.
MKL vs WTM: side by side
| MKL (Markel Group Inc.) | WTM (White Mountains Insurance Group, Ltd.) | |
|---|---|---|
| 1-year return | -7.8% | +15.3% |
| 5-year return | +43.0% | +90.5% |
| Volatility (ann.) | 21.0% | 20.6% |
| Beta vs S&P 500 | 0.44 | 0.23 |
| Max drawdown (3Y) | -20.1% | -18.0% |
| Market cap | $22.4B | $5.1B |
| P/E (trailing) | 10.0 | 4.9 |
| Dividend yield | 0.00% | 0.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MKL | WTM |
|---|---|---|
| 2022 | +6.8% | +39.6% |
| 2023 | +7.8% | +6.5% |
| 2024 | +21.6% | +29.3% |
| 2025 | +24.5% | +6.9% |
| 2026 | -16.0% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MKL and WTM good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MKL and WTM?
As of 2026-08-27, the correlation of weekly returns between MKL and WTM is 0.50 over 3 years, 0.52 over 1 year and 0.40 over 5 years.
Is WTM a good diversifier for MKL?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
A reading of 0.50 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: MKL correlations · WTM correlations
