AON vs. UNH
AON (Aon plc) and UNH (UnitedHealth Group Incorporated) are both stocks. AON operates in Insurance Brokers (Financial Services), while UNH operates in Healthcare Plans (Healthcare). Over the past 10 years, AON returned 13.79%/yr vs 13.60%/yr for UNH. At a 0.27 correlation, their price movements are largely independent.
Performance
AON vs. UNH - Performance Comparison
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Returns By Period
In the year-to-date period, AON achieves a 4.60% return, which is significantly lower than UNH's 31.74% return. Both investments have delivered pretty close results over the past 10 years, with AON having a 13.79% annualized return and UNH not far behind at 13.60%.
AON
- 1D
- 2.92%
- 1M
- 9.56%
- 6M
- 5.31%
- YTD
- 4.60%
- 1Y
- 4.22%
- 3Y*
- 3.84%
- 5Y*
- 10.66%
- 10Y*
- 13.79%
UNH
- 1D
- 1.05%
- 1M
- 5.64%
- 6M
- 27.72%
- YTD
- 31.74%
- 1Y
- 44.88%
- 3Y*
- -1.71%
- 5Y*
- 2.46%
- 10Y*
- 13.60%
AON vs. UNH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AON Aon plc | 4.60% | -0.94% | 24.45% | -2.31% | 0.61% | 43.39% | 2.37% | 44.68% | 9.94% | 21.49% |
UNH UnitedHealth Group Incorporated | 31.74% | -33.14% | -2.41% | 0.80% | 6.94% | 45.20% | 21.25% | 20.00% | 14.52% | 39.83% |
Correlation
The correlation between AON and UNH is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 1990 | 0.27 |
The correlation between AON and UNH shifts across timeframes, from 0.18 (1 year) to 0.31 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
AON:
$78.46B
UNH:
$389.68B
AON:
$18.23
UNH:
$13.23
AON:
20.15
UNH:
32.44
AON:
4.54
UNH:
0.87
AON:
8.05
UNH:
3.76
AON:
$17.49B
UNH:
$449.71B
AON:
$9.77B
UNH:
$84.55B
AON:
$6.55B
UNH:
$22.99B
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Return for Risk
AON vs. UNH — Risk / Return Rank
AON
UNH
AON vs. UNH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aon plc (AON) and UnitedHealth Group Incorporated (UNH). 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 | UNH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.25 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.25 | 1.56 | -1.31 |
| Martin ratioReturn relative to average drawdown | 0.44 | 3.65 | -3.21 |
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Drawdowns
AON vs. UNH - Drawdown Comparison
The maximum AON drawdown since its inception was -69.05%, smaller than the maximum UNH drawdown of -74.37%. Use the drawdown chart below to compare losses from any high point for AON and UNH.
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Drawdown Indicators
| AON | UNH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.05% | -74.37% | +5.32% |
Max Drawdown (1Y)Largest decline over 1 year | -17.28% | -28.96% | +11.68% |
Max Drawdown (3Y)Largest decline over 3 years | -23.84% | -61.39% | +37.55% |
Max Drawdown (5Y)Largest decline over 5 years | -25.38% | -61.39% | +36.01% |
Max Drawdown (10Y)Largest decline over 10 years | -38.73% | -61.39% | +22.66% |
Current DrawdownCurrent decline from peak | -9.25% | -28.46% | +19.21% |
Average DrawdownAverage peak-to-trough decline | -13.67% | -14.80% | +1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.71% | 12.42% | -2.71% |
Volatility
AON vs. UNH - Volatility Comparison
Aon plc (AON) has a higher volatility of 9.31% compared to UnitedHealth Group Incorporated (UNH) at 7.19%. This indicates that AON's price experiences larger fluctuations and is considered to be riskier than UNH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AON | UNH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.31% | 7.19% | +2.12% |
Volatility (6M)Calculated over the trailing 6-month period | 21.06% | 31.08% | -10.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.04% | 39.69% | -14.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.27% | 32.00% | -8.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.53% | 30.26% | -6.73% |
Dividends
AON vs. UNH - Dividend Comparison
AON's dividend yield for the trailing twelve months is around 0.83%, less than UNH's 2.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AON Aon plc | 0.83% | 0.82% | 0.74% | 0.83% | 0.73% | 0.66% | 0.84% | 0.83% | 1.35% | 1.05% | 1.16% | 1.25% |
UNH UnitedHealth Group Incorporated | 2.09% | 2.64% | 1.62% | 1.38% | 1.21% | 1.12% | 1.38% | 1.41% | 1.38% | 1.30% | 1.48% | 1.59% |
Financials
AON vs. UNH - Financials Comparison
This section allows you to compare key financial metrics between Aon plc and UnitedHealth Group Incorporated. 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
AON vs. UNH - Profitability Comparison
AON - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 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%.
UNH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, UnitedHealth Group Incorporated reported a gross profit of 25.41B and revenue of 111.72B. Therefore, the gross margin over that period was 22.7%.
AON - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Aon plc reported an operating income of 1.72B and revenue of 5.03B, resulting in an operating margin of 34.1%.
UNH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, UnitedHealth Group Incorporated reported an operating income of 8.99B and revenue of 111.72B, resulting in an operating margin of 8.1%.
AON - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Aon plc reported a net income of 1.21B and revenue of 5.03B, resulting in a net margin of 24.1%.
UNH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, UnitedHealth Group Incorporated reported a net income of 6.28B and revenue of 111.72B, resulting in a net margin of 5.6%.
Frequently Asked Questions
AON and UNH have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AON has higher volatility (9.31%) compared to UNH (7.19%). In terms of maximum drawdown, AON dropped -69.05% vs UNH's -74.37%.
UNH currently has the higher Sharpe Ratio (1.14 vs 0.17), 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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