AJG vs. TSM
AJG (Arthur J. Gallagher & Co.) and TSM (Taiwan Semiconductor Manufacturing Company Limited) are both stocks. AJG operates in Insurance Brokers (Financial Services), while TSM operates in Semiconductors (Technology). Over the past 10 years, AJG returned 18.56%/yr vs 35.80%/yr for TSM. At a 0.24 correlation, their price movements are largely independent.
Performance
AJG vs. TSM - Performance Comparison
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Returns By Period
In the year-to-date period, AJG achieves a -14.95% return, which is significantly lower than TSM's 40.22% return. Over the past 10 years, AJG has underperformed TSM with an annualized return of 18.56%, while TSM has yielded a comparatively higher 35.80% annualized return.
AJG
- 1D
- -1.00%
- 1M
- 14.28%
- YTD
- -14.95%
- 6M
- -13.82%
- 1Y
- -30.92%
- 3Y*
- 2.53%
- 5Y*
- 9.77%
- 10Y*
- 18.56%
TSM
- 1D
- 0.68%
- 1M
- 6.28%
- YTD
- 40.22%
- 6M
- 45.91%
- 1Y
- 98.93%
- 3Y*
- 60.80%
- 5Y*
- 31.30%
- 10Y*
- 35.80%
AJG vs. TSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AJG Arthur J. Gallagher & Co. | -14.95% | -8.03% | 27.34% | 20.51% | 12.44% | 39.02% | 32.12% | 31.79% | 19.19% | 25.04% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 40.22% | 55.91% | 92.58% | 42.33% | -36.75% | 12.09% | 92.67% | 64.85% | -3.50% | 41.46% |
Correlation
The correlation between AJG and TSM is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 1997 | 0.24 |
The correlation between AJG and TSM shifts across timeframes, from -0.20 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
Fundamentals
AJG:
$5.74
TSM:
NT$373.98
AJG:
38.12
TSM:
35.89
AJG:
3.95
TSM:
1.03
AJG:
4.08
TSM:
16.87
AJG:
$13.94B
TSM:
NT$4.13T
AJG:
$7.63B
TSM:
NT$2.55T
AJG:
$3.66B
TSM:
NT$3.14T
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Return for Risk
AJG vs. TSM — Risk / Return Rank
AJG
TSM
AJG vs. TSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Arthur J. Gallagher & Co. (AJG) and Taiwan Semiconductor Manufacturing Company Limited (TSM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AJG | TSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.83 | ||
| Sortino ratioReturn per unit of downside risk | -4.80 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.40 | -0.59 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 5.48 | -6.25 |
| Martin ratioReturn relative to average drawdown | -1.30 | 19.42 | -20.72 |
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Drawdowns
AJG vs. TSM - Drawdown Comparison
The maximum AJG drawdown since its inception was -57.49%, smaller than the maximum TSM drawdown of -89.08%. Use the drawdown chart below to compare losses from any high point for AJG and TSM.
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Drawdown Indicators
| AJG | TSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.49% | -89.08% | +31.59% |
Max Drawdown (1Y)Largest decline over 1 year | -40.64% | -18.14% | -22.50% |
Max Drawdown (3Y)Largest decline over 3 years | -44.40% | -36.82% | -7.58% |
Max Drawdown (5Y)Largest decline over 5 years | -44.40% | -56.47% | +12.07% |
Max Drawdown (10Y)Largest decline over 10 years | -44.40% | -56.47% | +12.07% |
Current DrawdownCurrent decline from peak | -36.46% | -4.87% | -31.59% |
Average DrawdownAverage peak-to-trough decline | -12.83% | -42.85% | +30.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.87% | 5.11% | +18.76% |
Volatility
AJG vs. TSM - Volatility Comparison
The current volatility for Arthur J. Gallagher & Co. (AJG) is 8.37%, while Taiwan Semiconductor Manufacturing Company Limited (TSM) has a volatility of 13.42%. This indicates that AJG experiences smaller price fluctuations and is considered to be less risky than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AJG | TSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.37% | 13.42% | -5.05% |
Volatility (6M)Calculated over the trailing 6-month period | 22.48% | 28.65% | -6.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.85% | 36.69% | -8.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.98% | 37.46% | -14.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.08% | 34.23% | -11.15% |
Dividends
AJG vs. TSM - Dividend Comparison
AJG's dividend yield for the trailing twelve months is around 1.23%, more than TSM's 0.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AJG Arthur J. Gallagher & Co. | 1.23% | 1.00% | 0.85% | 0.98% | 1.08% | 1.13% | 1.46% | 1.81% | 2.23% | 2.47% | 2.93% | 3.62% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 0.83% | 1.00% | 1.18% | 1.78% | 2.49% | 1.57% | 1.56% | 3.46% | 3.64% | 2.32% | 2.61% | 2.54% |
Financials
AJG vs. TSM - Financials Comparison
This section allows you to compare key financial metrics between Arthur J. Gallagher & Co. and Taiwan Semiconductor Manufacturing Company Limited. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
AJG vs. TSM - Profitability Comparison
AJG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported a gross profit of 1.42B and revenue of 3.63B. Therefore, the gross margin over that period was 39.1%.
TSM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Taiwan Semiconductor Manufacturing Company Limited reported a gross profit of 759.06B and revenue of 1.15T. Therefore, the gross margin over that period was 66.3%.
AJG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported an operating income of 341.00M and revenue of 3.63B, resulting in an operating margin of 9.4%.
TSM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Taiwan Semiconductor Manufacturing Company Limited reported an operating income of 664.08B and revenue of 1.15T, resulting in an operating margin of 58.0%.
AJG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported a net income of 151.00M and revenue of 3.63B, resulting in a net margin of 4.2%.
TSM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Taiwan Semiconductor Manufacturing Company Limited reported a net income of 578.40B and revenue of 1.15T, resulting in a net margin of 50.5%.
Frequently Asked Questions
AJG and TSM have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSM has higher volatility (13.42%) compared to AJG (8.37%). In terms of maximum drawdown, AJG dropped -57.49% vs TSM's -89.08%.
TSM currently has the higher Sharpe Ratio (2.71 vs -1.12), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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