Correlation Analysis
Arthur J. Gallagher & Co. vs BERKSHIRE HATHAWAY Class B
AJG vs BRK.B
+0.898
Very strong positive
When one moves up, the other tends to follow.
Arthur J. Gallagher & Co.
↗AJG
Founded in 1927 as a one-person agency, Gallagher's primary business is insurance brokerage, with a focus on serving middle-market companies. The company's risk management segment provides third-party claims adjustment to companies that choose to self-insure. Gallagher has about 72,000 employees and generates about a third of its revenue internationally, primarily in Australia, Canada, New Zealand, and the UK.
Market cap 56.3B · 72,000 employees
BERKSHIRE HATHAWAY Class B
↗BRK.B
Berkshire Hathaway is a holding company with a wide array of subsidiaries engaged in diverse activities. The firm's core business segment is insurance, run primarily through Geico, Berkshire Hathaway Reinsurance Group, and Berkshire Hathaway Primary Group. Berkshire has used the excess cash thrown off from its operations to acquire Burlington Northern Santa Fe (railroad), Berkshire Hathaway Energy (utilities and energy distributors), and the companies that make up its manufacturing, service, and retailing operations (which include Precision Castparts, Lubrizol, Clayton Homes, Marmon, and IMC/ISCAR). The conglomerate is unique in that it is run on a completely decentralized basis. Berkshire is expected to generate close to $375 billion in revenue in 2025.
Market cap 1T
Time Series
Relative Performance
Who Moves First
AJG leads BRK.B by 6 days
AJG tends to move before BRK.B.
After testing 13 timing shifts, the strongest relationship was +0.902 (they moved in the same direction).
Do They Crash Together?
Correlation by Market Regime
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
+0.485
15 periods · Return correlation when both series rose
Both Falling
+0.488
6 periods · Return correlation when both series fell
Diverging
-0.519
14 periods · Return correlation when series moved apart
R-Squared
80.7%
Share of variance in one series explained by the other.
Trend Agreement
68.8%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,254
Deep shared window — 1,254 usable pairs.
Significance
p < 0.001
95% CI: [0.887, 0.908]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,254 paired data points survived the daily window.
Raw input
1,254
1,254
Normalized
1,254
1,254
Prepared
1,254
1,254
Aligned
1,254
1,254
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
0
A: 0 / B: 0
Series A
Arthur J. Gallagher & Co.
AJG
Market cap 56.3B · 72,000 employees
Stock · 1,254 raw → 1,254 prepared
Series B
BERKSHIRE HATHAWAY Class B
BRK.B
Market cap 1T
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
35
Estimated crossover points between normalized spreads.
Slope
1.3008
Linear regression slope.
Intercept
86.4228
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 4 hours ago · ID: stock-ajg-vs-stock-brk-b-daily