WHF vs. AJG
WHF (WhiteHorse Finance, Inc.) and AJG (Arthur J. Gallagher & Co.) are both stocks. Both are in the Financial Services sector — WHF in Asset Management, AJG in Insurance Brokers. Over the past 10 years, WHF returned 7.98%/yr vs 18.40%/yr for AJG. At a 0.17 correlation, their price movements are largely independent.
Performance
WHF vs. AJG - Performance Comparison
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Returns By Period
In the year-to-date period, WHF achieves a 1.11% return, which is significantly higher than AJG's -18.69% return. Over the past 10 years, WHF has underperformed AJG with an annualized return of 7.98%, while AJG has yielded a comparatively higher 18.40% annualized return.
WHF
- 1D
- 1.55%
- 1M
- -0.46%
- YTD
- 1.11%
- 6M
- 1.26%
- 1Y
- -11.96%
- 3Y*
- -6.52%
- 5Y*
- -3.42%
- 10Y*
- 7.98%
AJG
- 1D
- -2.33%
- 1M
- 2.45%
- YTD
- -18.69%
- 6M
- -18.52%
- 1Y
- -33.96%
- 3Y*
- 0.42%
- 5Y*
- 9.42%
- 10Y*
- 18.40%
WHF vs. AJG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WHF WhiteHorse Finance, Inc. | 1.11% | -15.36% | -8.52% | 6.26% | -6.23% | 25.77% | 19.14% | 20.83% | 4.80% | 21.87% |
AJG Arthur J. Gallagher & Co. | -18.69% | -8.03% | 27.34% | 20.51% | 12.44% | 39.02% | 32.12% | 31.79% | 19.19% | 25.04% |
Correlation
The correlation between WHF and AJG is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2012 | 0.17 |
The correlation between WHF and AJG shifts across timeframes, from 0.04 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
Fundamentals
WHF:
$0.69
AJG:
$5.74
WHF:
9.52
AJG:
36.44
WHF:
3.15
AJG:
3.91
WHF:
$47.81M
AJG:
$13.94B
WHF:
$14.33M
AJG:
$7.63B
WHF:
-$4.37M
AJG:
$3.66B
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Return for Risk
WHF vs. AJG — Risk / Return Rank
WHF
AJG
WHF vs. AJG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WhiteHorse Finance, Inc. (WHF) and Arthur J. Gallagher & Co. (AJG). 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.
| WHF | AJG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 0.79 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.45 | -0.84 | +0.39 |
| Martin ratioReturn relative to average drawdown | -0.82 | -1.40 | +0.57 |
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Drawdowns
WHF vs. AJG - Drawdown Comparison
The maximum WHF drawdown since its inception was -57.48%, roughly equal to the maximum AJG drawdown of -57.49%. Use the drawdown chart below to compare losses from any high point for WHF and AJG.
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Drawdown Indicators
| WHF | AJG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.48% | -57.49% | +0.01% |
Max Drawdown (1Y)Largest decline over 1 year | -26.51% | -40.64% | +14.13% |
Max Drawdown (3Y)Largest decline over 3 years | -37.91% | -44.40% | +6.49% |
Max Drawdown (5Y)Largest decline over 5 years | -37.91% | -44.40% | +6.49% |
Max Drawdown (10Y)Largest decline over 10 years | -57.48% | -44.40% | -13.08% |
Current DrawdownCurrent decline from peak | -29.51% | -39.26% | +9.75% |
Average DrawdownAverage peak-to-trough decline | -9.00% | -12.84% | +3.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.53% | 24.33% | -9.80% |
Volatility
WHF vs. AJG - Volatility Comparison
WhiteHorse Finance, Inc. (WHF) has a higher volatility of 10.10% compared to Arthur J. Gallagher & Co. (AJG) at 7.77%. This indicates that WHF's price experiences larger fluctuations and is considered to be riskier than AJG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WHF | AJG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.10% | 7.77% | +2.33% |
Volatility (6M)Calculated over the trailing 6-month period | 20.68% | 22.15% | -1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.23% | 27.88% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.97% | 22.99% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.57% | 23.10% | +8.47% |
Dividends
WHF vs. AJG - Dividend Comparison
WHF's dividend yield for the trailing twelve months is around 18.02%, more than AJG's 1.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AJG Arthur J. Gallagher & Co. | 1.29% | 1.00% | 0.85% | 0.98% | 1.08% | 1.13% | 1.46% | 1.81% | 2.23% | 2.47% | 2.93% | 3.62% |
WHF WhiteHorse Finance, Inc. | 18.02% | 20.72% | 18.44% | 12.60% | 11.26% | 10.03% | 13.96% | 11.79% | 11.16% | 10.58% | 11.67% | 12.37% |
Financials
WHF vs. AJG - Financials Comparison
This section allows you to compare key financial metrics between WhiteHorse Finance, Inc. and Arthur J. Gallagher & Co.. 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
WHF vs. AJG - Profitability Comparison
WHF - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, WhiteHorse Finance, Inc. reported a gross profit of 0.00 and revenue of 15.86M. Therefore, the gross margin over that period was 0.0%.
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%.
WHF - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, WhiteHorse Finance, Inc. reported an operating income of 0.00 and revenue of 15.86M, resulting in an operating margin of 0.0%.
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%.
WHF - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, WhiteHorse Finance, Inc. reported a net income of 5.73M and revenue of 15.86M, resulting in a net margin of 36.1%.
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%.
Frequently Asked Questions
WHF and AJG have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WHF has higher volatility (10.10%) compared to AJG (7.77%). In terms of maximum drawdown, WHF dropped -57.48% vs AJG's -57.49%.
WHF currently has the higher Sharpe Ratio (-0.43 vs -1.22), 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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