THG vs WRB: Correlation
Hanover Insurance Group Inc (THG) and W. R. Berkley Corporation (WRB) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are THG and WRB?
Over the past 3 years, THG and WRB moved with a correlation of 0.57, which is moderate. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 281.6 %².
Within THG's tracked universe of 20 assets, WRB comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months THG outperformed by 35.1 percentage points (+33.1% for THG against -2.0% for WRB).
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.
THG vs WRB: side by side
| THG (Hanover Insurance Group Inc) | WRB (W. R. Berkley Corporation) | |
|---|---|---|
| 1-year return | +33.1% | -2.0% |
| 5-year return | +81.9% | +130.5% |
| Volatility (ann.) | 21.9% | 22.5% |
| Beta vs S&P 500 | 0.24 | 0.19 |
| Max drawdown (3Y) | -14.0% | -17.6% |
| Market cap | $7.9B | $25.4B |
| P/E (trailing) | 10.9 | 14.1 |
| Dividend yield | 1.64% | 0.54% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | THG | WRB |
|---|---|---|
| 2022 | +5.4% | +33.9% |
| 2023 | -7.6% | +0.2% |
| 2024 | +30.6% | +27.2% |
| 2025 | +20.7% | +23.0% |
| 2026 | +25.9% | -1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are THG and WRB good diversifiers for each other?
Only partially. A correlation of 0.57 means THG and WRB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between THG and WRB?
As of 2026-08-27, the correlation of weekly returns between THG and WRB is 0.57 over 3 years, 0.63 over 1 year and 0.60 over 5 years.
Is WRB a good diversifier for THG?
Only partially. A correlation of 0.57 means THG and WRB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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/thg-vs-wrb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/thg-vs-wrb/)
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Related comparisons
Hubs: THG correlations · WRB correlations
