RNR vs UZX: Correlation
RenaissanceRe Holdings Ltd. (RNR) and Linkage Global Inc - Class A (UZX) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RNR and UZX?
Over the past 3 years, RNR and UZX moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -738.6 %².
UZX is close to the least connected end of RNR's tracked universe, ranking #12 of 12. Their recent paths diverged sharply: over the last 12 months RNR outperformed by 130.4 percentage points (+35.8% for RNR against -94.6% for UZX). Note the risk asymmetry: UZX runs 6.5 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.
RNR vs UZX: side by side
| RNR (RenaissanceRe Holdings Ltd.) | UZX (Linkage Global Inc - Class A) | |
|---|---|---|
| 1-year return | +35.8% | -94.6% |
| 5-year return | +120.0% | n/a |
| Volatility (ann.) | 21.1% | 137.7% |
| Beta vs S&P 500 | 0.09 | 0.09 |
| Max drawdown (3Y) | -23.1% | -99.8% |
| Market cap | $13.7B | – |
| P/E (trailing) | 5.7 | – |
| Dividend yield | 0.49% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RNR | UZX |
|---|---|---|
| 2022 | +9.9% | – |
| 2023 | +7.2% | – |
| 2024 | +27.8% | -71.7% |
| 2025 | +13.6% | -58.8% |
| 2026 | +17.8% | -93.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RNR and UZX good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between RNR and UZX?
The RNR/UZX correlation stands at -0.26 on a 3-year window (1 year: -0.31, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is UZX a good diversifier for RNR?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 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/rnr-vs-uzx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rnr-vs-uzx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RNR correlations · UZX correlations
