MRSH vs PGR: Correlation
Measured on weekly returns over the past three years, Marsh McLennan (MRSH) and Progressive Corporation (PGR) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRSH and PGR?
Over the past 3 years, MRSH and PGR moved with a correlation of 0.56, which is moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.56 over 3. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 238.0 %².
By 3-year correlation, PGR places #7 of the 38 assets tracked against MRSH. Their 12-month results are close: -6.0% for MRSH against -5.3% for PGR. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.21 to 0.72.
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.
MRSH vs PGR: side by side
| MRSH (Marsh McLennan) | PGR (Progressive Corporation) | |
|---|---|---|
| 1-year return | -6.0% | -5.3% |
| 5-year return | +31.3% | +153.0% |
| Volatility (ann.) | 18.1% | 23.6% |
| Beta vs S&P 500 | 0.33 | 0.32 |
| Max drawdown (3Y) | -34.4% | -30.4% |
| Market cap | $90.7B | $126.5B |
| P/E (trailing) | 23.6 | 10.9 |
| Dividend yield | 1.91% | 0.18% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | MRSH | PGR |
|---|---|---|
| 2022 | -3.5% | +26.8% |
| 2023 | +16.1% | +23.2% |
| 2024 | +13.7% | +51.4% |
| 2025 | -11.3% | -3.0% |
| 2026 | +4.0% | +1.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRSH and PGR good diversifiers for each other?
To a limited degree. At 0.56 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 MRSH and PGR?
The MRSH/PGR correlation stands at 0.56 on a 3-year window (1 year: 0.52, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is PGR a good diversifier for MRSH?
To a limited degree. At 0.56 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 0.56 mean?
On the −1 to +1 scale, 0.56 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mrsh-vs-pgr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mrsh-vs-pgr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MRSH correlations · PGR correlations
