RLI vs TW: Correlation
Measured on weekly returns over the past three years, RLI Corp. (RLI) and Tradeweb Markets Inc. (TW) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RLI and TW?
Across a 3-year window, the weekly returns of RLI and TW correlate at 0.35, moderate. The link has tightened recently: the 1-year correlation (0.45) runs above the 3-year figure (0.35). Stretching to 5 years gives 0.29, with an annualized covariance of 180.9 %².
Within RLI's tracked universe of 29 assets, TW comes in at #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RLI ahead by 15.8 points (+1.9% versus -13.9%).
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.
RLI vs TW: side by side
| RLI (RLI Corp.) | TW (Tradeweb Markets Inc.) | |
|---|---|---|
| 1-year return | +1.9% | -13.9% |
| 5-year return | +46.7% | +24.2% |
| Volatility (ann.) | 22.2% | 23.1% |
| Beta vs S&P 500 | 0.18 | 0.39 |
| Max drawdown (3Y) | -43.5% | -38.3% |
| Market cap | $5.9B | $23.4B |
| P/E (trailing) | 13.5 | 25.6 |
| Dividend yield | 1.02% | 0.48% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RLI | TW |
|---|---|---|
| 2022 | +24.8% | -34.9% |
| 2023 | +3.8% | +40.6% |
| 2024 | +27.6% | +44.6% |
| 2025 | -19.1% | -17.5% |
| 2026 | +5.1% | +0.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RLI and TW good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between RLI and TW?
The RLI/TW correlation stands at 0.35 on a 3-year window (1 year: 0.45, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is TW a good diversifier for RLI?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 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: RLI correlations · TW correlations
