GHC vs. ACGL

Last updated Jun 3, 2026

GHC (Graham Holdings Company) and ACGL (Arch Capital Group Ltd.) are both stocks. GHC operates in Education & Training Services (Consumer Defensive), while ACGL operates in Insurance - Diversified (Financial Services). Over the past 10 years, GHC returned 9.21%/yr vs 14.38%/yr for ACGL. At a 0.24 correlation, their price movements are largely independent.

Performance

GHC vs. ACGL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Graham Holdings Company (GHC) and Arch Capital Group Ltd. (ACGL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GHC achieves a 1.02% return, which is significantly higher than ACGL's -8.65% return. Over the past 10 years, GHC has underperformed ACGL with an annualized return of 9.21%, while ACGL has yielded a comparatively higher 14.38% annualized return.

GHC

• 1D: -0.35%
• 1M: -2.49%
• YTD: 1.02%
• 6M: 0.46%
• 1Y: 16.95%
• 3Y*: 24.73%
• 5Y*: 12.37%
• 10Y*: 9.21%

ACGL

• 1D: -1.26%
• 1M: -6.61%
• YTD: -8.65%
• 6M: -5.47%
• 1Y: -8.99%
• 3Y*: 9.13%
• 5Y*: 18.47%
• 10Y*: 14.38%

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

GHC vs. ACGL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GHC Graham Holdings Company	1.02%	26.98%	26.32%	16.56%	-3.02%	19.25%	-15.32%	0.57%	15.78%	10.05%
ACGL Arch Capital Group Ltd.	-8.65%	3.87%	30.76%	18.30%	41.24%	23.23%	-15.90%	60.52%	-11.69%	5.19%

Correlation

The correlation between GHC and ACGL is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Sep 15, 1995	0.24

The correlation between GHC and ACGL shifts across timeframes, from 0.17 (1 year) to 0.33 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap GHC : $7.32M ACGL : $31.52B
EPS GHC : $90.63 ACGL : $13.06
PE Ratio GHC : 12.21 ACGL : 6.71
PEG Ratio GHC : 0.14 ACGL : 0.15
PS Ratio GHC : 0.97 ACGL : 1.66
PB Ratio GHC : 0.00 ACGL : 1.35
Total Revenue (TTM) GHC : $3.75B ACGL : $19.70B
Gross Profit (TTM) GHC : $1.10B ACGL : $8.44B
EBITDA (TTM) GHC : $722.08M ACGL : $5.80B

Return for Risk

GHC vs. ACGL — Risk / Return Rank

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

GHC

GHC Risk / Return Rank: 58
GHC Sharpe Ratio Rank: 62
GHC Sortino Ratio Rank: 54
GHC Omega Ratio Rank: 53
GHC Calmar Ratio Rank: 59
GHC Martin Ratio Rank: 61

ACGL

ACGL Risk / Return Rank: 19
ACGL Sharpe Ratio Rank: 22
ACGL Sortino Ratio Rank: 20
ACGL Omega Ratio Rank: 20
ACGL Calmar Ratio Rank: 21
ACGL Martin Ratio Rank: 12

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.

GHC vs. ACGL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Graham Holdings Company (GHC) and Arch Capital Group Ltd. (ACGL). 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.

	GHC	ACGL	Difference
Sharpe ratio Return per unit of total volatility	0.64	-0.43	+1.07
Sortino ratio Return per unit of downside risk	1.05	-0.45	+1.50
Omega ratio Gain probability vs. loss probability	1.13	0.94	+0.19
Calmar ratio Return relative to maximum drawdown	0.85	-0.55	+1.40
Martin ratio Return relative to average drawdown	2.24	-1.24	+3.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GHC vs. ACGL - Sharpe Ratio Comparison

The current GHC Sharpe Ratio is 0.64, which is higher than the ACGL Sharpe Ratio of -0.43. The chart below compares the historical Sharpe Ratios of GHC and ACGL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GHC	ACGL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	-0.43	+1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.76	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.52	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.44	-0.17

Drawdowns

GHC vs. ACGL - Drawdown Comparison

The maximum GHC drawdown since its inception was -67.54%, which is greater than ACGL's maximum drawdown of -54.70%. Use the drawdown chart below to compare losses from any high point for GHC and ACGL.

Drawdown Indicators

	GHC	ACGL	Difference
Max Drawdown Largest peak-to-trough decline	-67.54%	-54.70%	-12.84%
Max Drawdown (1Y) Largest decline over 1 year	-19.78%	-14.08%	-5.70%
Max Drawdown (3Y) Largest decline over 3 years	-19.78%	-22.43%	+2.65%
Max Drawdown (5Y) Largest decline over 5 years	-20.79%	-22.43%	+1.64%
Max Drawdown (10Y) Largest decline over 10 years	-62.55%	-53.84%	-8.71%
Current Drawdown Current decline from peak	-7.03%	-19.78%	+12.75%
Average Drawdown Average peak-to-trough decline	-19.32%	-11.72%	-7.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.46%	6.29%	+1.17%

Volatility

GHC vs. ACGL - Volatility Comparison

Graham Holdings Company (GHC) and Arch Capital Group Ltd. (ACGL) have volatilities of 5.75% and 5.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GHC	ACGL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.75%	5.59%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	15.98%	14.43%	+1.55%
Volatility (1Y) Calculated over the trailing 1-year period	26.52%	20.95%	+5.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.06%	24.55%	+1.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.28%	27.54%	+0.74%

Dividends

GHC vs. ACGL - Dividend Comparison

GHC's dividend yield for the trailing twelve months is around 0.67%, while ACGL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACGL Arch Capital Group Ltd.	0.00%	0.00%	5.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GHC Graham Holdings Company	0.67%	0.66%	0.79%	0.95%	1.05%	0.96%	1.09%	0.87%	0.83%	0.91%	0.95%	89.61%

Financials

Frequently Asked Questions

Can I hold both GHC and ACGL in my portfolio?

GHC and ACGL have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GHC or ACGL?

GHC has higher volatility (5.75%) compared to ACGL (5.59%). In terms of maximum drawdown, GHC dropped -67.54% vs ACGL's -54.70%.

Which has better risk-adjusted returns?

GHC currently has the higher Sharpe Ratio (0.64 vs -0.43), 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.