AON vs. AMZN

Last updated Jun 13, 2026

AON (Aon plc) and AMZN (Amazon.com, Inc) are both stocks. AON operates in Insurance Brokers (Financial Services), while AMZN operates in Internet Retail (Consumer Cyclical). Over the past 10 years, AON returned 13.10%/yr vs 20.83%/yr for AMZN. At a 0.28 correlation, their price movements are largely independent.

Performance

AON vs. AMZN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aon plc (AON) and Amazon.com, Inc (AMZN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AON achieves a -4.52% return, which is significantly lower than AMZN's 3.35% return. Over the past 10 years, AON has underperformed AMZN with an annualized return of 13.10%, while AMZN has yielded a comparatively higher 20.83% annualized return.

AON

• 1D: 0.04%
• 1M: 7.85%
• YTD: -4.52%
• 6M: -4.77%
• 1Y: -4.90%
• 3Y*: 2.54%
• 5Y*: 6.89%
• 10Y*: 13.10%

AMZN

• 1D: -1.23%
• 1M: -11.69%
• YTD: 3.35%
• 6M: 5.46%
• 1Y: 11.87%
• 3Y*: 23.49%
• 5Y*: 7.35%
• 10Y*: 20.83%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AON vs. AMZN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AON Aon plc	-4.52%	-0.94%	24.45%	-2.31%	0.61%	43.39%	2.37%	44.68%	9.94%	21.49%
AMZN Amazon.com, Inc	3.35%	5.21%	44.39%	80.88%	-49.62%	2.38%	76.26%	23.03%	28.43%	55.96%

Correlation

The correlation between AON and AMZN is -0.10, 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	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.00
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since May 15, 1997	0.28

The correlation between AON and AMZN shifts across timeframes, from -0.10 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap AON : $72.23B AMZN : $2.59T
EPS AON : $18.21 AMZN : $8.37
PE Ratio AON : 18.41 AMZN : 28.50
PEG Ratio AON : 0.47 AMZN : 0.69
PS Ratio AON : 4.15 AMZN : 3.48
PB Ratio AON : 7.34 AMZN : 5.87
Total Revenue (TTM) AON : $17.49B AMZN : $742.78B
Gross Profit (TTM) AON : $9.77B AMZN : $348.59B
EBITDA (TTM) AON : $6.55B AMZN : $152.71B

Return for Risk

AON vs. AMZN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AON

AON Risk / Return Rank: 32
AON Sharpe Ratio Rank: 34
AON Sortino Ratio Rank: 29
AON Omega Ratio Rank: 29
AON Calmar Ratio Rank: 34
AON Martin Ratio Rank: 34

AMZN

AMZN Risk / Return Rank: 54
AMZN Sharpe Ratio Rank: 57
AMZN Sortino Ratio Rank: 51
AMZN Omega Ratio Rank: 49
AMZN Calmar Ratio Rank: 55
AMZN Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AON vs. AMZN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aon plc (AON) and Amazon.com, Inc (AMZN). 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.

	AON	AMZN	Difference
Sharpe ratio: Return per unit of total volatility	-0.21	0.40	-0.60
Sortino ratio: Return per unit of downside risk	-0.13	0.76	-0.89
Omega ratio: Gain probability vs. loss probability	0.98	1.09	-0.11
Calmar ratio: Return relative to maximum drawdown	-0.28	0.55	-0.83
Martin ratio: Return relative to average drawdown	-0.53	1.29	-1.82

AON vs. AMZN - Sharpe Ratio Comparison

The current AON Sharpe Ratio is -0.21, which is lower than the AMZN Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of AON and AMZN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AON vs. AMZN - Drawdown Comparison

The maximum AON drawdown since its inception was -69.05%, smaller than the maximum AMZN drawdown of -94.40%. Use the drawdown chart below to compare losses from any high point for AON and AMZN.

Drawdown Indicators

	AON	AMZN	Difference
Max Drawdown Largest peak-to-trough decline	-69.05%	-94.40%	+25.35%
Max Drawdown (1Y) Largest decline over 1 year	-17.28%	-21.74%	+4.46%
Max Drawdown (3Y) Largest decline over 3 years	-23.84%	-30.88%	+7.04%
Max Drawdown (5Y) Largest decline over 5 years	-25.38%	-56.15%	+30.77%
Max Drawdown (10Y) Largest decline over 10 years	-38.73%	-56.15%	+17.42%
Current Drawdown Current decline from peak	-17.16%	-13.25%	-3.91%
Average Drawdown Average peak-to-trough decline	-13.67%	-28.19%	+14.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.29%	9.21%	+0.08%

Volatility

AON vs. AMZN - Volatility Comparison

The current volatility for Aon plc (AON) is 5.69%, while Amazon.com, Inc (AMZN) has a volatility of 7.92%. This indicates that AON experiences smaller price fluctuations and is considered to be less risky than AMZN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AON	AMZN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.69%	7.92%	-2.23%
Volatility (6M) Calculated over the trailing 6-month period	19.50%	20.73%	-1.23%
Volatility (1Y) Calculated over the trailing 1-year period	23.54%	30.13%	-6.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.11%	35.53%	-12.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.45%	32.48%	-9.03%

Dividends

AON vs. AMZN - Dividend Comparison

AON's dividend yield for the trailing twelve months is around 0.91%, while AMZN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMZN Amazon.com, Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
AON Aon plc	0.91%	0.82%	0.74%	0.83%	0.73%	0.66%	0.84%	0.83%	1.35%	1.05%	1.16%	1.25%

Financials

AON vs. AMZN - Profitability Comparison

The chart below illustrates the profitability comparison between Aon plc and Amazon.com, Inc over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AON - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Aon plc reported a gross profit of 2.64B and revenue of 5.03B. Therefore, the gross margin over that period was 52.5%.

AMZN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Amazon.com, Inc reported a gross profit of 66.77B and revenue of 181.52B. Therefore, the gross margin over that period was 36.8%.

AON - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Aon plc reported an operating income of 1.72B and revenue of 5.03B, resulting in an operating margin of 34.1%.

AMZN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Amazon.com, Inc reported an operating income of 23.85B and revenue of 181.52B, resulting in an operating margin of 13.1%.

AON - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Aon plc reported a net income of 1.21B and revenue of 5.03B, resulting in a net margin of 24.1%.

AMZN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Amazon.com, Inc reported a net income of 30.26B and revenue of 181.52B, resulting in a net margin of 16.7%.

Frequently Asked Questions

Can I hold both AON and AMZN in my portfolio?

AON and AMZN have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AON or AMZN?

AMZN has higher volatility (7.92%) compared to AON (5.69%). In terms of maximum drawdown, AON dropped -69.05% vs AMZN's -94.40%.

Which has better risk-adjusted returns?

AMZN currently has the higher Sharpe Ratio (0.40 vs -0.21), 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.