RLI vs WTM: Correlation
Measured on weekly returns over the past three years, RLI Corp. (RLI) and White Mountains Insurance Group, Ltd. (WTM) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RLI and WTM?
Across a 3-year window, the weekly returns of RLI and WTM correlate at 0.48, moderate. The link has loosened recently: the 1-year correlation (0.37) runs below the 3-year figure (0.48). Stretching to 5 years gives 0.42, with an annualized covariance of 217.9 %².
By 3-year correlation, WTM places #14 of the 29 assets tracked against RLI. Over the last 12 months WTM came out ahead by 13.4 percentage points (+1.9% against +15.3%).
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 WTM: side by side
| RLI (RLI Corp.) | WTM (White Mountains Insurance Group, Ltd.) | |
|---|---|---|
| 1-year return | +1.9% | +15.3% |
| 5-year return | +46.7% | +90.5% |
| Volatility (ann.) | 22.2% | 20.6% |
| Beta vs S&P 500 | 0.18 | 0.23 |
| Max drawdown (3Y) | -43.5% | -18.0% |
| Market cap | $5.9B | $5.1B |
| P/E (trailing) | 13.5 | 4.9 |
| Dividend yield | 1.02% | 0.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RLI | WTM |
|---|---|---|
| 2022 | +24.8% | +39.6% |
| 2023 | +3.8% | +6.5% |
| 2024 | +27.6% | +29.3% |
| 2025 | -19.1% | +6.9% |
| 2026 | +5.1% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RLI and WTM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between RLI and WTM?
The RLI/WTM correlation stands at 0.48 on a 3-year window (1 year: 0.37, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is WTM a good diversifier for RLI?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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/rli-vs-wtm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rli-vs-wtm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RLI correlations · WTM correlations
