MRSH vs RYAN: Correlation
How closely do Marsh McLennan (MRSH) and Ryan Specialty Holdings, Inc. (RYAN) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRSH and RYAN?
On 3 years of weekly data the MRSH/RYAN correlation comes out at 0.55, moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. The 5-year figure is 0.45, and annualized covariance runs at 333.0 %².
By 3-year correlation, RYAN places #9 of the 38 assets tracked against MRSH. The last year tells two different stories: MRSH led by 17.3 percentage points, -6.0% for MRSH against -23.3% for RYAN. Note the risk asymmetry: RYAN runs 1.8 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.
MRSH vs RYAN: side by side
| MRSH (Marsh McLennan) | RYAN (Ryan Specialty Holdings, Inc.) | |
|---|---|---|
| 1-year return | -6.0% | -23.3% |
| 5-year return | +31.3% | +36.6% |
| Volatility (ann.) | 18.1% | 33.3% |
| Beta vs S&P 500 | 0.33 | 0.36 |
| Max drawdown (3Y) | -34.4% | -60.9% |
| Market cap | $90.7B | $17.0B |
| P/E (trailing) | 23.6 | 58.8 |
| Dividend yield | 1.91% | 1.16% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | MRSH | RYAN |
|---|---|---|
| 2022 | -3.5% | +2.9% |
| 2023 | +16.1% | +3.6% |
| 2024 | +13.7% | +50.9% |
| 2025 | -11.3% | -18.9% |
| 2026 | +4.0% | -14.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRSH and RYAN good diversifiers for each other?
To a limited degree. At 0.55 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 RYAN?
The MRSH/RYAN correlation stands at 0.55 on a 3-year window (1 year: 0.56, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is RYAN a good diversifier for MRSH?
To a limited degree. At 0.55 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 0.55 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/mrsh-vs-ryan.json
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[](https://www.pairbook.io/pair/mrsh-vs-ryan/)
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Related comparisons
Hubs: MRSH correlations · RYAN correlations
