Arthur J. Gallagher & Co. vs Aon plc Class A Ordinary Shares (Ireland)
WatchlistAJG / AONPrices through Oct 22, 2026
Why these are rivals: #2 and #3 by market value ($65B vs $61B) in Nasdaq's "Specialty Insurers" industry; SEC SIC 6411 / 6411 (same major group); #2 and #3 by market value ($65B vs $61B) with SEC SIC 6411 (Insurance Agents, Brokers & Service).
Rivals, but right now the price gap does not have a measured habit of closing, so there is no paper idea, whatever the gap.
- Mean reversion: ADF t-statistic of the spread: -0.76 (needs <= -2.873 (5% critical value))
- Speed: half-life of the spread, sessions: 124.70 (needs <= 63)
Business leadership
AON is the larger business
Annual revenue reported to the SEC. Scale, not market share.
| Year | AJG | AON | Larger |
|---|---|---|---|
| 2025 | $13.9B | $17.2B | AON |
| 2024 | $11.6B | $15.7B | AON |
| 2023 | $10.1B | $13.4B | AON |
| 2022 | $8.6B | $12.5B | AON |
| 2021 | $8.2B | $12.2B | AON |
| 2020 | $7.0B | $11.1B | AON |
AON led in every year with figures for both. Market value: AJG $64.8B, AON $61.5B.
Stock leadership
AJG is ahead now
Measured against the pair's own last 252 trading days.
AJG leads AON by 2.55 standard deviations: +23.8% over its usual price ratio. 1 lead switch in the last year.
| Price change | 3 mo | 6 mo | 12 mo |
|---|---|---|---|
| AJG | +9.4% | +23.5% | -2.9% |
| AON | -15.2% | -5.2% | -10.7% |
Relationship
Not a measured twin today
Only these tests can make a pair tradable on paper.
- Pass
- Aligned sessions: 2521 (needs >= 254)
- Pass
- Co-movement: daily return correlation, 252 sessions: 0.76 (needs >= 0.60)
- Fail
- Mean reversion: ADF t-statistic of the spread: -0.76 (needs <= -2.873 (5% critical value))
- Fail
- Speed: half-life of the spread, sessions: 124.70 (needs <= 63)
- Data
- Both stocks current
The twins over two years
Prices side by side, and the gap between them
AJG Arthur J. Gallagher & Co. AON Aon plc Class A Ordinary Shares (Ireland)Price index, 100 = 2024-10-18. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).
Spread z-score: AJG relative to AON, against the 252 sessions before each day. Above 0: AJG ahead; below 0: AON ahead. Lines at +/-2 (idea) and +/-4 (stop).
Data table (504 sessions)
| Date | AJG index | AON index | z | Ahead |
|---|---|---|---|---|
| 2026-10-22 | 93.68 | 85.72 | +2.55 | AJG ahead |
| 2026-10-21 | 89.32 | 82.24 | +2.49 | AJG ahead |
| 2026-10-20 | 89.63 | 82.90 | +2.46 | AJG ahead |
| 2026-10-19 | 87.47 | 80.95 | +2.47 | AJG ahead |
| 2026-10-16 | 88.12 | 81.73 | +2.46 | AJG ahead |
| 2026-10-15 | 86.46 | 80.13 | +2.48 | AJG ahead |
| 2026-10-14 | 81.95 | 76.93 | +2.33 | AJG ahead |
| 2026-10-13 | 80.52 | 76.75 | +2.14 | AJG ahead |
| 2026-10-12 | 80.87 | 76.77 | +2.20 | AJG ahead |
| 2026-10-09 | 80.45 | 76.40 | +2.20 | AJG ahead |
| 2026-10-08 | 80.92 | 77.42 | +2.11 | AJG ahead |
| 2026-10-07 | 78.51 | 75.57 | +2.03 | AJG ahead |
| 2026-10-06 | 79.46 | 76.55 | +2.02 | AJG ahead |
| 2026-10-05 | 78.56 | 76.01 | +1.96 | AJG ahead |
| 2026-10-02 | 78.17 | 75.28 | +2.01 | AJG ahead |
| 2026-10-01 | 80.15 | 77.10 | +2.01 | AJG ahead |
| 2026-09-30 | 78.86 | 77.33 | +1.77 | AJG ahead |
| 2026-09-29 | 78.74 | 77.08 | +1.78 | AJG ahead |
| 2026-09-28 | 79.33 | 76.02 | +2.04 | AJG ahead |
| 2026-09-25 | 79.90 | 77.67 | +1.85 | AJG ahead |
| 2026-09-24 | 78.52 | 77.14 | +1.72 | AJG ahead |
| 2026-09-23 | 79.39 | 78.67 | +1.60 | AJG ahead |
| 2026-09-22 | 79.67 | 79.93 | +1.45 | AJG ahead |
| 2026-09-21 | 81.80 | 81.25 | +1.56 | AJG ahead |
| 2026-09-18 | 82.79 | 82.60 | +1.51 | AJG ahead |
| 2026-09-17 | 83.46 | 82.71 | +1.59 | AJG ahead |
| 2026-09-16 | 84.28 | 83.97 | +1.52 | AJG ahead |
| 2026-09-15 | 85.75 | 85.12 | +1.57 | AJG ahead |
| 2026-09-14 | 87.57 | 87.04 | +1.56 | AJG ahead |
| 2026-09-11 | 83.08 | 84.57 | +1.27 | AJG ahead |
| 2026-09-10 | 84.12 | 85.99 | +1.22 | AJG ahead |
| 2026-09-09 | 84.45 | 85.13 | +1.38 | AJG ahead |
| 2026-09-08 | 86.93 | 88.23 | +1.30 | AJG ahead |
| 2026-09-04 | 90.82 | 90.27 | +1.55 | AJG ahead |
| 2026-09-03 | 92.19 | 91.36 | +1.58 | AJG ahead |
| 2026-09-02 | 91.43 | 92.44 | +1.34 | AJG ahead |
| 2026-09-01 | 90.58 | 91.16 | +1.39 | AJG ahead |
| 2026-08-31 | 90.63 | 89.83 | +1.57 | AJG ahead |
| 2026-08-28 | 92.50 | 99.29 | +0.62 | AJG ahead |
| 2026-08-27 | 89.94 | 97.66 | +0.48 | near the usual relationship |
| 2026-08-26 | 91.63 | 98.90 | +0.55 | AJG ahead |
| 2026-08-25 | 92.83 | 99.13 | +0.67 | AJG ahead |
| 2026-08-24 | 94.03 | 100.33 | +0.67 | AJG ahead |
| 2026-08-21 | 91.20 | 99.21 | +0.44 | near the usual relationship |
| 2026-08-20 | 89.75 | 98.32 | +0.35 | near the usual relationship |
| 2026-08-19 | 89.01 | 97.35 | +0.37 | near the usual relationship |
| 2026-08-18 | 85.86 | 95.88 | +0.12 | near the usual relationship |
| 2026-08-17 | 85.73 | 97.01 | -0.03 | near the usual relationship |
| 2026-08-14 | 86.85 | 99.41 | -0.17 | near the usual relationship |
| 2026-08-13 | 87.64 | 99.76 | -0.11 | near the usual relationship |
| 2026-08-12 | 88.32 | 98.44 | +0.12 | near the usual relationship |
| 2026-08-11 | 87.64 | 99.59 | -0.10 | near the usual relationship |
| 2026-08-10 | 87.27 | 99.73 | -0.17 | near the usual relationship |
| 2026-08-07 | 85.78 | 100.10 | -0.41 | near the usual relationship |
| 2026-08-06 | 87.03 | 100.79 | -0.33 | near the usual relationship |
| 2026-08-05 | 86.79 | 100.57 | -0.34 | near the usual relationship |
| 2026-08-04 | 85.76 | 99.64 | -0.38 | near the usual relationship |
| 2026-08-03 | 85.67 | 99.92 | -0.42 | near the usual relationship |
| 2026-07-31 | 86.23 | 100.73 | -0.45 | near the usual relationship |
| 2026-07-30 | 88.66 | 102.41 | -0.33 | near the usual relationship |
| 2026-07-29 | 92.97 | 105.37 | -0.12 | near the usual relationship |
| 2026-07-28 | 91.72 | 106.52 | -0.40 | near the usual relationship |
| 2026-07-27 | 87.59 | 102.58 | -0.50 | AON ahead |
| 2026-07-24 | 85.66 | 101.05 | -0.58 | AON ahead |
| 2026-07-23 | 83.74 | 99.40 | -0.65 | AON ahead |
| 2026-07-22 | 83.84 | 98.44 | -0.54 | AON ahead |
| 2026-07-21 | 85.82 | 100.41 | -0.51 | AON ahead |
| 2026-07-20 | 87.70 | 101.36 | -0.39 | near the usual relationship |
| 2026-07-17 | 87.78 | 102.59 | -0.51 | AON ahead |
| 2026-07-16 | 88.48 | 102.99 | -0.48 | near the usual relationship |
| 2026-07-15 | 85.66 | 99.22 | -0.43 | near the usual relationship |
| 2026-07-14 | 87.75 | 100.27 | -0.30 | near the usual relationship |
| 2026-07-13 | 90.31 | 102.63 | -0.25 | near the usual relationship |
| 2026-07-10 | 87.50 | 99.72 | -0.29 | near the usual relationship |
| 2026-07-09 | 87.73 | 99.34 | -0.23 | near the usual relationship |
| 2026-07-08 | 88.72 | 99.88 | -0.18 | near the usual relationship |
| 2026-07-07 | 88.04 | 100.53 | -0.32 | near the usual relationship |
| 2026-07-06 | 86.35 | 99.72 | -0.44 | near the usual relationship |
| 2026-07-02 | 87.27 | 99.87 | -0.36 | near the usual relationship |
| 2026-07-01 | 82.86 | 95.99 | -0.48 | near the usual relationship |
| 2026-06-30 | 79.37 | 92.67 | -0.57 | AON ahead |
| 2026-06-29 | 78.52 | 91.52 | -0.55 | AON ahead |
| 2026-06-26 | 78.14 | 91.83 | -0.64 | AON ahead |
| 2026-06-25 | 75.32 | 88.27 | -0.62 | AON ahead |
| 2026-06-24 | 76.32 | 90.93 | -0.78 | AON ahead |
| 2026-06-23 | 74.60 | 89.61 | -0.86 | AON ahead |
| 2026-06-22 | 72.28 | 87.62 | -0.95 | AON ahead |
| 2026-06-18 | 74.01 | 88.77 | -0.86 | AON ahead |
| 2026-06-17 | 74.71 | 91.27 | -1.04 | AON ahead |
| 2026-06-16 | 74.64 | 92.60 | -1.18 | AON ahead |
| 2026-06-15 | 74.59 | 92.06 | -1.14 | AON ahead |
| 2026-06-12 | 75.61 | 93.68 | -1.19 | AON ahead |
| 2026-06-11 | 76.37 | 93.64 | -1.10 | AON ahead |
| 2026-06-10 | 76.11 | 93.97 | -1.17 | AON ahead |
| 2026-06-09 | 75.04 | 92.64 | -1.18 | AON ahead |
| 2026-06-08 | 73.47 | 91.04 | -1.22 | AON ahead |
| 2026-06-05 | 74.72 | 91.79 | -1.15 | AON ahead |
| 2026-06-04 | 72.95 | 90.03 | -1.20 | AON ahead |
| 2026-06-03 | 70.01 | 88.17 | -1.39 | AON ahead |
| 2026-06-02 | 71.14 | 88.81 | -1.32 | AON ahead |
| 2026-06-01 | 71.25 | 89.52 | -1.38 | AON ahead |
| 2026-05-29 | 69.53 | 88.30 | -1.49 | AON ahead |
| 2026-05-28 | 70.06 | 88.93 | -1.49 | AON ahead |
| 2026-05-27 | 70.13 | 89.00 | -1.50 | AON ahead |
| 2026-05-26 | 70.51 | 89.20 | -1.48 | AON ahead |
| 2026-05-22 | 70.79 | 90.74 | -1.60 | AON ahead |
| 2026-05-21 | 71.71 | 90.58 | -1.49 | AON ahead |
| 2026-05-20 | 70.39 | 89.72 | -1.57 | AON ahead |
| 2026-05-19 | 70.34 | 90.43 | -1.66 | AON ahead |
| 2026-05-18 | 71.62 | 91.24 | -1.59 | AON ahead |
| 2026-05-15 | 69.13 | 88.63 | -1.66 | AON ahead |
| 2026-05-14 | 68.34 | 88.12 | -1.72 | AON ahead |
| 2026-05-13 | 66.38 | 86.86 | -1.86 | AON ahead |
| 2026-05-12 | 68.25 | 88.38 | -1.79 | AON ahead |
| 2026-05-11 | 68.65 | 87.19 | -1.63 | AON ahead |
| 2026-05-08 | 68.75 | 87.39 | -1.65 | AON ahead |
| 2026-05-07 | 69.82 | 87.61 | -1.55 | AON ahead |
| 2026-05-06 | 68.08 | 86.13 | -1.64 | AON ahead |
| 2026-05-05 | 71.15 | 87.88 | -1.44 | AON ahead |
| 2026-05-04 | 71.57 | 87.98 | -1.41 | AON ahead |
| 2026-05-01 | 71.95 | 87.03 | -1.28 | AON ahead |
| 2026-04-30 | 71.36 | 87.07 | -1.37 | AON ahead |
| 2026-04-29 | 73.23 | 90.10 | -1.45 | AON ahead |
| 2026-04-28 | 73.78 | 89.87 | -1.37 | AON ahead |
| 2026-04-27 | 74.35 | 90.46 | -1.38 | AON ahead |
| 2026-04-24 | 74.46 | 89.72 | -1.30 | AON ahead |
| 2026-04-23 | 75.84 | 90.40 | -1.22 | AON ahead |
| 2026-04-22 | 76.44 | 91.32 | -1.25 | AON ahead |
| 2026-04-21 | 77.60 | 93.68 | -1.35 | AON ahead |
| 2026-04-20 | 77.12 | 92.74 | -1.33 | AON ahead |
| 2026-04-17 | 76.62 | 92.70 | -1.39 | AON ahead |
| 2026-04-16 | 77.47 | 93.69 | -1.40 | AON ahead |
| 2026-04-15 | 77.15 | 91.66 | -1.26 | AON ahead |
| 2026-04-14 | 76.03 | 90.25 | -1.26 | AON ahead |
| 2026-04-13 | 76.92 | 90.91 | -1.23 | AON ahead |
| 2026-04-10 | 73.83 | 87.33 | -1.25 | AON ahead |
| 2026-04-09 | 75.50 | 90.91 | -1.42 | AON ahead |
| 2026-04-08 | 76.34 | 92.13 | -1.45 | AON ahead |
| 2026-04-07 | 75.22 | 90.09 | -1.40 | AON ahead |
| 2026-04-06 | 75.81 | 91.13 | -1.44 | AON ahead |
| 2026-04-02 | 75.23 | 90.28 | -1.44 | AON ahead |
| 2026-04-01 | 74.79 | 89.78 | -1.46 | AON ahead |
| 2026-03-31 | 74.88 | 90.18 | -1.50 | AON ahead |
| 2026-03-30 | 74.66 | 90.54 | -1.57 | AON ahead |
| 2026-03-27 | 71.60 | 87.63 | -1.67 | AON ahead |
| 2026-03-26 | 72.69 | 90.46 | -1.84 | AON ahead |
| 2026-03-25 | 73.83 | 89.81 | -1.65 | AON ahead |
| 2026-03-24 | 74.77 | 91.37 | -1.71 | AON ahead |
| 2026-03-23 | 74.93 | 91.07 | -1.68 | AON ahead |
| 2026-03-20 | 74.27 | 90.98 | -1.77 | AON ahead |
| 2026-03-19 | 72.49 | 88.56 | -1.77 | AON ahead |
| 2026-03-18 | 72.42 | 88.81 | -1.82 | AON ahead |
| 2026-03-17 | 72.31 | 89.73 | -1.95 | AON ahead |
| 2026-03-16 | 73.24 | 91.29 | -2.02 | AON ahead |
| 2026-03-13 | 71.89 | 89.80 | -2.07 | AON ahead |
| 2026-03-12 | 70.60 | 88.26 | -2.10 | AON ahead |
| 2026-03-11 | 72.55 | 88.54 | -1.89 | AON ahead |
| 2026-03-10 | 73.20 | 89.67 | -1.95 | AON ahead |
| 2026-03-09 | 75.29 | 92.99 | -2.05 | AON ahead |
| 2026-03-06 | 78.87 | 95.16 | -1.85 | AON ahead |
| 2026-03-05 | 79.39 | 94.65 | -1.75 | AON ahead |
| 2026-03-04 | 77.99 | 95.32 | -2.02 | AON ahead |
| 2026-03-03 | 77.87 | 94.73 | -2.00 | AON ahead |
| 2026-03-02 | 79.26 | 94.38 | -1.80 | AON ahead |
| 2026-02-27 | 78.89 | 93.73 | -1.79 | AON ahead |
| 2026-02-26 | 77.86 | 92.27 | -1.79 | AON ahead |
| 2026-02-25 | 75.41 | 90.70 | -1.96 | AON ahead |
| 2026-02-24 | 74.67 | 89.22 | -1.92 | AON ahead |
| 2026-02-23 | 74.10 | 88.09 | -1.89 | AON ahead |
| 2026-02-20 | 74.85 | 90.82 | -2.13 | AON ahead |
| 2026-02-19 | 75.50 | 90.60 | -2.04 | AON ahead |
| 2026-02-18 | 74.15 | 90.24 | -2.22 | AON ahead |
| 2026-02-17 | 73.98 | 91.07 | -2.38 | AON ahead |
| 2026-02-13 | 72.07 | 89.88 | -2.56 | AON ahead |
| 2026-02-12 | 70.80 | 87.86 | -2.55 | AON ahead |
| 2026-02-11 | 70.98 | 86.60 | -2.40 | AON ahead |
| 2026-02-10 | 73.49 | 88.82 | -2.32 | AON ahead |
| 2026-02-09 | 75.29 | 86.70 | -1.79 | AON ahead |
| 2026-02-06 | 83.52 | 95.56 | -1.74 | AON ahead |
| 2026-02-05 | 83.92 | 95.93 | -1.74 | AON ahead |
| 2026-02-04 | 86.27 | 97.84 | -1.67 | AON ahead |
| 2026-02-03 | 85.65 | 96.90 | -1.66 | AON ahead |
| 2026-02-02 | 84.80 | 97.68 | -1.89 | AON ahead |
| 2026-01-30 | 86.21 | 97.68 | -1.71 | AON ahead |
| 2026-01-29 | 84.99 | 95.81 | -1.66 | AON ahead |
| 2026-01-28 | 83.79 | 93.03 | -1.49 | AON ahead |
| 2026-01-27 | 83.78 | 92.41 | -1.42 | AON ahead |
| 2026-01-26 | 88.30 | 94.67 | -1.08 | AON ahead |
| 2026-01-23 | 87.54 | 94.62 | -1.18 | AON ahead |
| 2026-01-22 | 86.56 | 93.86 | -1.23 | AON ahead |
| 2026-01-21 | 86.46 | 92.97 | -1.13 | AON ahead |
| 2026-01-20 | 88.12 | 94.85 | -1.15 | AON ahead |
| 2026-01-16 | 89.38 | 96.07 | -1.14 | AON ahead |
| 2026-01-15 | 88.56 | 96.34 | -1.29 | AON ahead |
| 2026-01-14 | 88.84 | 96.67 | -1.30 | AON ahead |
| 2026-01-13 | 88.85 | 96.27 | -1.26 | AON ahead |
| 2026-01-12 | 91.56 | 97.92 | -1.11 | AON ahead |
| 2026-01-09 | 91.47 | 98.01 | -1.14 | AON ahead |
| 2026-01-08 | 91.46 | 98.33 | -1.18 | AON ahead |
| 2026-01-07 | 89.54 | 97.76 | -1.38 | AON ahead |
| 2026-01-06 | 90.85 | 97.69 | -1.20 | AON ahead |
| 2026-01-05 | 91.01 | 98.14 | -1.24 | AON ahead |
| 2026-01-02 | 88.50 | 96.18 | -1.34 | AON ahead |
| 2025-12-31 | 89.47 | 98.59 | -1.52 | AON ahead |
| 2025-12-30 | 90.52 | 99.60 | -1.52 | AON ahead |
| 2025-12-29 | 90.97 | 99.66 | -1.47 | AON ahead |
| 2025-12-26 | 90.40 | 99.64 | -1.56 | AON ahead |
| 2025-12-24 | 90.15 | 99.64 | -1.60 | AON ahead |
| 2025-12-23 | 89.44 | 99.42 | -1.69 | AON ahead |
| 2025-12-22 | 89.28 | 99.31 | -1.71 | AON ahead |
| 2025-12-19 | 87.60 | 97.80 | -1.77 | AON ahead |
| 2025-12-18 | 87.34 | 98.63 | -1.94 | AON ahead |
| 2025-12-17 | 86.74 | 98.35 | -2.01 | AON ahead |
| 2025-12-16 | 87.11 | 98.29 | -1.96 | AON ahead |
| 2025-12-15 | 88.57 | 98.93 | -1.84 | AON ahead |
| 2025-12-12 | 88.29 | 98.84 | -1.89 | AON ahead |
| 2025-12-11 | 85.61 | 97.06 | -2.08 | AON ahead |
| 2025-12-10 | 83.13 | 95.00 | -2.21 | AON ahead |
| 2025-12-09 | 82.94 | 96.72 | -2.52 | AON ahead |
| 2025-12-08 | 82.23 | 95.94 | -2.57 | AON ahead |
| 2025-12-05 | 82.87 | 96.44 | -2.57 | AON ahead |
| 2025-12-04 | 84.84 | 97.14 | -2.37 | AON ahead |
| 2025-12-03 | 84.83 | 96.23 | -2.27 | AON ahead |
| 2025-12-02 | 84.43 | 96.58 | -2.42 | AON ahead |
| 2025-12-01 | 85.08 | 98.11 | -2.58 | AON ahead |
| 2025-11-28 | 85.61 | 98.88 | -2.64 | AON ahead |
| 2025-11-26 | 85.92 | 98.51 | -2.57 | AON ahead |
| 2025-11-25 | 86.51 | 98.05 | -2.42 | AON ahead |
| 2025-11-24 | 85.81 | 96.30 | -2.30 | AON ahead |
| 2025-11-21 | 86.92 | 96.81 | -2.20 | AON ahead |
| 2025-11-20 | 85.50 | 96.64 | -2.45 | AON ahead |
| 2025-11-19 | 85.99 | 96.16 | -2.31 | AON ahead |
| 2025-11-18 | 89.42 | 97.38 | -1.90 | AON ahead |
| 2025-11-17 | 89.65 | 97.79 | -1.94 | AON ahead |
| 2025-11-14 | 89.37 | 97.82 | -2.01 | AON ahead |
| 2025-11-13 | 88.75 | 98.05 | -2.17 | AON ahead |
| 2025-11-12 | 88.46 | 97.82 | -2.20 | AON ahead |
| 2025-11-11 | 88.16 | 97.76 | -2.26 | AON ahead |
| 2025-11-10 | 86.80 | 96.35 | -2.29 | AON ahead |
| 2025-11-07 | 86.43 | 96.76 | -2.45 | AON ahead |
| 2025-11-06 | 84.78 | 94.99 | -2.49 | AON ahead |
| 2025-11-05 | 85.76 | 95.47 | -2.41 | AON ahead |
| 2025-11-04 | 87.02 | 96.17 | -2.30 | AON ahead |
| 2025-11-03 | 84.00 | 94.95 | -2.71 | AON ahead |
| 2025-10-31 | 86.25 | 95.18 | -2.32 | AON ahead |
| 2025-10-30 | 90.59 | 91.69 | -0.85 | AON ahead |
| 2025-10-29 | 90.59 | 91.10 | -0.73 | AON ahead |
| 2025-10-28 | 92.48 | 92.19 | -0.58 | AON ahead |
| 2025-10-27 | 96.46 | 94.12 | -0.22 | near the usual relationship |
| 2025-10-24 | 97.05 | 94.36 | -0.16 | near the usual relationship |
| 2025-10-23 | 97.66 | 95.37 | -0.23 | near the usual relationship |
| 2025-10-22 | 97.85 | 95.86 | -0.28 | near the usual relationship |
| 2025-10-21 | 96.46 | 95.95 | -0.54 | AON ahead |
| 2025-10-20 | 96.55 | 96.14 | -0.56 | AON ahead |
| 2025-10-17 | 96.96 | 96.83 | -0.60 | AON ahead |
| 2025-10-16 | 96.86 | 95.86 | -0.45 | near the usual relationship |
| 2025-10-15 | 102.39 | 99.40 | -0.13 | near the usual relationship |
| 2025-10-14 | 105.01 | 100.72 | +0.08 | near the usual relationship |
| 2025-10-13 | 103.03 | 98.72 | +0.10 | near the usual relationship |
| 2025-10-10 | 104.32 | 100.62 | -0.01 | near the usual relationship |
| 2025-10-09 | 104.49 | 100.70 | +0.00 | near the usual relationship |
| 2025-10-08 | 106.12 | 102.08 | +0.03 | near the usual relationship |
| 2025-10-07 | 107.11 | 102.51 | +0.12 | near the usual relationship |
| 2025-10-06 | 106.88 | 102.17 | +0.14 | near the usual relationship |
| 2025-10-03 | 107.34 | 101.64 | +0.30 | near the usual relationship |
| 2025-10-02 | 106.71 | 100.78 | +0.35 | near the usual relationship |
| 2025-10-01 | 105.74 | 100.61 | +0.23 | near the usual relationship |
| 2025-09-30 | 107.08 | 99.62 | +0.61 | AJG ahead |
| 2025-09-29 | 105.69 | 99.08 | +0.49 | near the usual relationship |
| 2025-09-26 | 105.15 | 99.48 | +0.34 | near the usual relationship |
| 2025-09-25 | 104.78 | 98.24 | +0.49 | near the usual relationship |
| 2025-09-24 | 105.29 | 98.83 | +0.48 | near the usual relationship |
| 2025-09-23 | 105.22 | 98.64 | +0.50 | AJG ahead |
| 2025-09-22 | 103.74 | 98.75 | +0.25 | near the usual relationship |
| 2025-09-19 | 103.60 | 98.15 | +0.33 | near the usual relationship |
| 2025-09-18 | 102.59 | 98.56 | +0.10 | near the usual relationship |
| 2025-09-17 | 101.18 | 100.02 | -0.38 | near the usual relationship |
| 2025-09-16 | 100.76 | 99.62 | -0.39 | near the usual relationship |
| 2025-09-15 | 100.05 | 101.64 | -0.85 | AON ahead |
| 2025-09-12 | 102.78 | 103.92 | -0.77 | AON ahead |
| 2025-09-11 | 103.93 | 104.00 | -0.60 | AON ahead |
| 2025-09-10 | 101.36 | 101.24 | -0.58 | AON ahead |
| 2025-09-09 | 103.20 | 102.36 | -0.46 | near the usual relationship |
| 2025-09-08 | 103.41 | 103.37 | -0.60 | AON ahead |
| 2025-09-05 | 103.43 | 103.52 | -0.62 | AON ahead |
| 2025-09-04 | 103.79 | 104.35 | -0.70 | AON ahead |
| 2025-09-03 | 105.00 | 104.49 | -0.53 | AON ahead |
| 2025-09-02 | 104.61 | 103.92 | -0.51 | AON ahead |
| 2025-08-29 | 104.67 | 102.53 | -0.27 | near the usual relationship |
| 2025-08-28 | 103.59 | 102.41 | -0.43 | near the usual relationship |
| 2025-08-27 | 103.27 | 102.92 | -0.57 | AON ahead |
| 2025-08-26 | 103.79 | 103.09 | -0.52 | AON ahead |
| 2025-08-25 | 103.24 | 103.63 | -0.70 | AON ahead |
| 2025-08-22 | 104.81 | 104.80 | -0.64 | AON ahead |
| 2025-08-21 | 105.58 | 104.84 | -0.53 | AON ahead |
| 2025-08-20 | 104.63 | 104.49 | -0.62 | AON ahead |
| 2025-08-19 | 104.06 | 104.17 | -0.67 | AON ahead |
| 2025-08-18 | 101.82 | 102.08 | -0.70 | AON ahead |
| 2025-08-15 | 101.20 | 102.54 | -0.88 | AON ahead |
| 2025-08-14 | 101.44 | 102.35 | -0.82 | AON ahead |
| 2025-08-13 | 102.02 | 103.63 | -0.94 | AON ahead |
| 2025-08-12 | 100.48 | 101.64 | -0.87 | AON ahead |
| 2025-08-11 | 99.89 | 102.84 | -1.18 | AON ahead |
| 2025-08-08 | 100.07 | 102.37 | -1.08 | AON ahead |
| 2025-08-07 | 100.26 | 101.98 | -0.99 | AON ahead |
| 2025-08-06 | 98.97 | 101.61 | -1.16 | AON ahead |
| 2025-08-05 | 98.80 | 101.03 | -1.10 | AON ahead |
| 2025-08-04 | 98.40 | 100.69 | -1.12 | AON ahead |
| 2025-08-01 | 98.24 | 98.75 | -0.82 | AON ahead |
| 2025-07-31 | 99.31 | 99.38 | -0.75 | AON ahead |
| 2025-07-30 | 98.82 | 99.28 | -0.82 | AON ahead |
| 2025-07-29 | 99.69 | 98.91 | -0.61 | AON ahead |
| 2025-07-28 | 106.87 | 103.14 | -0.15 | near the usual relationship |
| 2025-07-25 | 108.95 | 104.18 | +0.01 | near the usual relationship |
| 2025-07-24 | 106.85 | 99.63 | +0.43 | near the usual relationship |
| 2025-07-23 | 107.45 | 99.82 | +0.49 | near the usual relationship |
| 2025-07-22 | 108.01 | 98.96 | +0.72 | AJG ahead |
| 2025-07-21 | 106.57 | 98.04 | +0.65 | AJG ahead |
| 2025-07-18 | 108.26 | 99.49 | +0.66 | AJG ahead |
| 2025-07-17 | 108.53 | 99.08 | +0.77 | AJG ahead |
| 2025-07-16 | 107.15 | 99.06 | +0.56 | AJG ahead |
| 2025-07-15 | 106.50 | 98.45 | +0.55 | AJG ahead |
| 2025-07-14 | 109.04 | 100.53 | +0.59 | AJG ahead |
| 2025-07-11 | 107.71 | 99.37 | +0.58 | AJG ahead |
| 2025-07-10 | 108.41 | 100.30 | +0.53 | AJG ahead |
| 2025-07-09 | 108.99 | 99.72 | +0.72 | AJG ahead |
| 2025-07-08 | 108.47 | 99.06 | +0.75 | AJG ahead |
| 2025-07-07 | 109.27 | 98.69 | +0.93 | AJG ahead |
| 2025-07-03 | 109.97 | 99.11 | +0.97 | AJG ahead |
| 2025-07-02 | 109.16 | 98.22 | +1.00 | AJG ahead |
| 2025-07-01 | 110.45 | 99.72 | +0.94 | AJG ahead |
| 2025-06-30 | 110.67 | 99.67 | +0.99 | AJG ahead |
| 2025-06-27 | 109.85 | 98.55 | +1.05 | AJG ahead |
| 2025-06-26 | 110.07 | 98.78 | +1.05 | AJG ahead |
| 2025-06-25 | 109.74 | 99.03 | +0.96 | AJG ahead |
| 2025-06-24 | 112.70 | 100.77 | +1.11 | AJG ahead |
| 2025-06-23 | 112.06 | 100.56 | +1.05 | AJG ahead |
| 2025-06-20 | 110.69 | 99.10 | +1.10 | AJG ahead |
| 2025-06-18 | 109.64 | 98.02 | +1.13 | AJG ahead |
| 2025-06-17 | 109.29 | 98.01 | +1.08 | AJG ahead |
| 2025-06-16 | 109.36 | 97.80 | +1.13 | AJG ahead |
| 2025-06-13 | 109.47 | 98.62 | +1.01 | AJG ahead |
| 2025-06-12 | 110.68 | 99.40 | +1.06 | AJG ahead |
| 2025-06-11 | 108.19 | 97.64 | +0.98 | AJG ahead |
| 2025-06-10 | 108.69 | 98.26 | +0.95 | AJG ahead |
| 2025-06-09 | 109.88 | 98.85 | +1.04 | AJG ahead |
| 2025-06-06 | 113.66 | 103.68 | +0.80 | AJG ahead |
| 2025-06-05 | 113.43 | 103.51 | +0.79 | AJG ahead |
| 2025-06-04 | 116.28 | 104.10 | +1.12 | AJG ahead |
| 2025-06-03 | 119.36 | 104.62 | +1.48 | AJG ahead |
| 2025-06-02 | 120.58 | 105.09 | +1.58 | AJG ahead |
| 2025-05-30 | 120.12 | 103.95 | +1.71 | AJG ahead |
| 2025-05-29 | 118.20 | 102.51 | +1.69 | AJG ahead |
| 2025-05-28 | 117.48 | 100.95 | +1.86 | AJG ahead |
| 2025-05-27 | 118.50 | 101.99 | +1.84 | AJG ahead |
| 2025-05-23 | 116.87 | 99.61 | +2.02 | AJG ahead |
| 2025-05-22 | 115.98 | 99.27 | +1.97 | AJG ahead |
| 2025-05-21 | 116.69 | 100.04 | +1.96 | AJG ahead |
| 2025-05-20 | 117.66 | 101.26 | +1.91 | AJG ahead |
| 2025-05-19 | 118.87 | 101.96 | +1.98 | AJG ahead |
| 2025-05-16 | 118.32 | 101.11 | +2.07 | AJG ahead |
| 2025-05-15 | 116.95 | 100.18 | +2.05 | AJG ahead |
| 2025-05-14 | 113.96 | 98.40 | +1.93 | AJG ahead |
| 2025-05-13 | 115.02 | 99.20 | +1.97 | AJG ahead |
| 2025-05-12 | 114.53 | 98.78 | +1.99 | AJG ahead |
| 2025-05-09 | 116.92 | 98.99 | +2.37 | AJG ahead |
| 2025-05-08 | 117.02 | 99.77 | +2.27 | AJG ahead |
| 2025-05-07 | 117.39 | 100.50 | +2.22 | AJG ahead |
| 2025-05-06 | 116.95 | 100.00 | +2.27 | AJG ahead |
| 2025-05-05 | 115.77 | 99.32 | +2.24 | AJG ahead |
| 2025-05-02 | 114.46 | 99.53 | +2.00 | AJG ahead |
| 2025-05-01 | 109.82 | 98.21 | +1.46 | AJG ahead |
| 2025-04-30 | 110.87 | 99.12 | +1.48 | AJG ahead |
| 2025-04-29 | 109.64 | 97.76 | +1.55 | AJG ahead |
| 2025-04-28 | 111.95 | 95.96 | +2.35 | AJG ahead |
| 2025-04-25 | 111.43 | 93.83 | +2.75 | AJG ahead |
| 2025-04-24 | 114.61 | 101.99 | +1.65 | AJG ahead |
| 2025-04-23 | 114.71 | 103.05 | +1.47 | AJG ahead |
| 2025-04-22 | 114.35 | 102.96 | +1.43 | AJG ahead |
| 2025-04-21 | 110.42 | 99.45 | +1.44 | AJG ahead |
| 2025-04-17 | 113.82 | 102.65 | +1.42 | AJG ahead |
| 2025-04-16 | 115.01 | 104.16 | +1.34 | AJG ahead |
| 2025-04-15 | 116.01 | 105.92 | +1.19 | AJG ahead |
| 2025-04-14 | 118.55 | 107.38 | +1.36 | AJG ahead |
| 2025-04-11 | 115.48 | 105.13 | +1.27 | AJG ahead |
| 2025-04-10 | 112.61 | 103.10 | +1.16 | AJG ahead |
| 2025-04-09 | 111.95 | 104.31 | +0.83 | AJG ahead |
| 2025-04-08 | 107.70 | 100.64 | +0.78 | AJG ahead |
| 2025-04-07 | 107.47 | 101.79 | +0.52 | AJG ahead |
| 2025-04-04 | 110.37 | 104.98 | +0.45 | near the usual relationship |
| 2025-04-03 | 119.07 | 110.16 | +0.98 | AJG ahead |
| 2025-04-02 | 118.95 | 110.64 | +0.89 | AJG ahead |
| 2025-04-01 | 118.88 | 111.42 | +0.75 | AJG ahead |
| 2025-03-31 | 119.36 | 111.50 | +0.82 | AJG ahead |
| 2025-03-28 | 117.81 | 110.23 | +0.79 | AJG ahead |
| 2025-03-27 | 117.89 | 111.63 | +0.58 | AJG ahead |
| 2025-03-26 | 116.41 | 110.84 | +0.48 | near the usual relationship |
| 2025-03-25 | 116.63 | 110.68 | +0.55 | AJG ahead |
| 2025-03-24 | 116.74 | 109.84 | +0.71 | AJG ahead |
| 2025-03-21 | 114.71 | 109.06 | +0.53 | AJG ahead |
| 2025-03-20 | 115.62 | 109.85 | +0.54 | AJG ahead |
| 2025-03-19 | 112.93 | 109.07 | +0.25 | near the usual relationship |
| 2025-03-18 | 113.97 | 108.97 | +0.43 | near the usual relationship |
| 2025-03-17 | 113.79 | 109.23 | +0.37 | near the usual relationship |
| 2025-03-14 | 112.44 | 111.42 | -0.21 | near the usual relationship |
| 2025-03-13 | 111.62 | 110.13 | -0.13 | near the usual relationship |
| 2025-03-12 | 112.39 | 111.28 | -0.19 | near the usual relationship |
| 2025-03-11 | 112.62 | 111.68 | -0.22 | near the usual relationship |
| 2025-03-10 | 111.27 | 111.47 | -0.40 | near the usual relationship |
| 2025-03-07 | 112.01 | 112.62 | -0.46 | near the usual relationship |
| 2025-03-06 | 117.49 | 112.20 | +0.48 | near the usual relationship |
| 2025-03-05 | 117.82 | 112.89 | +0.42 | near the usual relationship |
| 2025-03-04 | 116.60 | 113.06 | +0.21 | near the usual relationship |
| 2025-03-03 | 118.17 | 114.36 | +0.25 | near the usual relationship |
| 2025-02-28 | 116.76 | 114.30 | +0.05 | near the usual relationship |
| 2025-02-27 | 115.18 | 112.87 | +0.04 | near the usual relationship |
| 2025-02-26 | 113.51 | 111.54 | -0.01 | near the usual relationship |
| 2025-02-25 | 114.72 | 111.07 | +0.26 | near the usual relationship |
| 2025-02-24 | 113.57 | 109.57 | +0.33 | near the usual relationship |
| 2025-02-21 | 112.55 | 108.84 | +0.29 | near the usual relationship |
| 2025-02-20 | 112.40 | 109.82 | +0.11 | near the usual relationship |
| 2025-02-19 | 113.17 | 110.32 | +0.16 | near the usual relationship |
| 2025-02-18 | 112.81 | 109.26 | +0.28 | near the usual relationship |
| 2025-02-14 | 111.15 | 108.12 | +0.21 | near the usual relationship |
| 2025-02-13 | 113.59 | 109.04 | +0.44 | near the usual relationship |
| 2025-02-12 | 112.22 | 108.05 | +0.40 | near the usual relationship |
| 2025-02-11 | 111.32 | 107.34 | +0.38 | near the usual relationship |
| 2025-02-10 | 112.11 | 107.73 | +0.44 | near the usual relationship |
| 2025-02-07 | 111.44 | 107.98 | +0.30 | near the usual relationship |
| 2025-02-06 | 110.63 | 107.48 | +0.26 | near the usual relationship |
| 2025-02-05 | 109.35 | 106.83 | +0.16 | near the usual relationship |
| 2025-02-04 | 107.94 | 105.46 | +0.17 | near the usual relationship |
| 2025-02-03 | 106.83 | 104.74 | +0.11 | near the usual relationship |
| 2025-01-31 | 104.35 | 103.60 | -0.10 | near the usual relationship |
| 2025-01-30 | 103.38 | 103.97 | -0.32 | near the usual relationship |
| 2025-01-29 | 101.68 | 102.46 | -0.35 | near the usual relationship |
| 2025-01-28 | 101.44 | 103.79 | -0.61 | AON ahead |
| 2025-01-27 | 102.33 | 105.27 | -0.70 | AON ahead |
| 2025-01-24 | 100.09 | 103.14 | -0.73 | AON ahead |
| 2025-01-23 | 99.57 | 101.88 | -0.61 | AON ahead |
| 2025-01-22 | 101.47 | 102.62 | -0.41 | near the usual relationship |
| 2025-01-21 | 102.60 | 102.84 | -0.25 | near the usual relationship |
| 2025-01-17 | 101.93 | 102.30 | -0.27 | near the usual relationship |
| 2025-01-16 | 102.26 | 102.84 | -0.30 | near the usual relationship |
| 2025-01-15 | 100.32 | 100.91 | -0.30 | near the usual relationship |
| 2025-01-14 | 99.95 | 101.32 | -0.43 | near the usual relationship |
| 2025-01-13 | 98.81 | 99.09 | -0.24 | near the usual relationship |
| 2025-01-10 | 99.23 | 97.65 | +0.08 | near the usual relationship |
| 2025-01-08 | 98.70 | 98.47 | -0.15 | near the usual relationship |
| 2025-01-07 | 96.72 | 97.35 | -0.29 | near the usual relationship |
| 2025-01-06 | 95.56 | 97.36 | -0.50 | AON ahead |
| 2025-01-03 | 96.94 | 98.90 | -0.52 | AON ahead |
| 2025-01-02 | 95.38 | 99.18 | -0.84 | AON ahead |
| 2024-12-31 | 98.13 | 100.34 | -0.56 | AON ahead |
| 2024-12-30 | 98.34 | 100.01 | -0.46 | near the usual relationship |
| 2024-12-27 | 99.06 | 100.68 | -0.45 | near the usual relationship |
| 2024-12-26 | 99.69 | 100.99 | -0.39 | near the usual relationship |
| 2024-12-24 | 99.69 | 101.03 | -0.39 | near the usual relationship |
| 2024-12-23 | 98.36 | 100.10 | -0.46 | near the usual relationship |
| 2024-12-20 | 97.87 | 100.15 | -0.55 | AON ahead |
| 2024-12-19 | 96.49 | 98.83 | -0.55 | AON ahead |
| 2024-12-18 | 96.28 | 98.51 | -0.52 | AON ahead |
| 2024-12-17 | 97.81 | 100.27 | -0.55 | AON ahead |
| 2024-12-16 | 98.88 | 101.07 | -0.49 | near the usual relationship |
| 2024-12-13 | 98.39 | 100.91 | -0.53 | AON ahead |
| 2024-12-12 | 97.21 | 101.34 | -0.79 | AON ahead |
| 2024-12-11 | 98.04 | 101.31 | -0.65 | AON ahead |
| 2024-12-10 | 98.10 | 100.94 | -0.57 | AON ahead |
| 2024-12-09 | 100.90 | 102.79 | -0.41 | near the usual relationship |
| 2024-12-06 | 102.58 | 105.61 | -0.57 | AON ahead |
| 2024-12-05 | 104.95 | 106.09 | -0.28 | near the usual relationship |
| 2024-12-04 | 106.23 | 106.72 | -0.18 | near the usual relationship |
| 2024-12-03 | 107.11 | 107.72 | -0.19 | near the usual relationship |
| 2024-12-02 | 106.47 | 108.32 | -0.37 | near the usual relationship |
| 2024-11-29 | 107.95 | 109.39 | -0.30 | near the usual relationship |
| 2024-11-27 | 108.96 | 109.88 | -0.22 | near the usual relationship |
| 2024-11-26 | 108.20 | 109.03 | -0.21 | near the usual relationship |
| 2024-11-25 | 105.93 | 108.88 | -0.52 | AON ahead |
| 2024-11-22 | 105.20 | 107.90 | -0.48 | near the usual relationship |
| 2024-11-21 | 104.56 | 106.90 | -0.43 | near the usual relationship |
| 2024-11-20 | 102.29 | 106.19 | -0.66 | AON ahead |
| 2024-11-19 | 101.12 | 105.93 | -0.79 | AON ahead |
| 2024-11-18 | 101.50 | 106.31 | -0.79 | AON ahead |
| 2024-11-15 | 101.84 | 105.97 | -0.68 | AON ahead |
| 2024-11-14 | 101.89 | 105.14 | -0.55 | AON ahead |
| 2024-11-13 | 103.14 | 108.10 | -0.78 | AON ahead |
| 2024-11-12 | 102.08 | 107.19 | -0.80 | AON ahead |
| 2024-11-11 | 101.20 | 107.11 | -0.92 | AON ahead |
| 2024-11-08 | 101.91 | 107.22 | -0.83 | AON ahead |
| 2024-11-07 | 100.45 | 106.13 | -0.89 | AON ahead |
| 2024-11-06 | 100.49 | 106.52 | -0.93 | AON ahead |
| 2024-11-05 | 97.89 | 103.01 | -0.82 | AON ahead |
| 2024-11-04 | 97.37 | 102.15 | -0.77 | AON ahead |
| 2024-11-01 | 96.94 | 101.81 | -0.79 | AON ahead |
| 2024-10-31 | 97.22 | 102.50 | -0.85 | AON ahead |
| 2024-10-30 | 98.35 | 103.22 | -0.78 | AON ahead |
| 2024-10-29 | 98.57 | 103.64 | -0.80 | AON ahead |
| 2024-10-28 | 98.87 | 103.85 | -0.78 | AON ahead |
| 2024-10-25 | 97.83 | 104.89 | -1.08 | AON ahead |
| 2024-10-24 | 99.41 | 99.70 | -0.08 | near the usual relationship |
| 2024-10-23 | 99.89 | 100.10 | -0.06 | near the usual relationship |
| 2024-10-22 | 99.30 | 99.50 | -0.05 | near the usual relationship |
| 2024-10-21 | 100.13 | 99.86 | +0.02 | near the usual relationship |
| 2024-10-18 | 100.00 | 100.00 | -0.01 | near the usual relationship |
One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Oct 25, 2024 (AJG -1.6%, AON +5.2%); Mar 7, 2025 (AJG -4.7%, AON +0.4%); Apr 25, 2025 (AJG -2.8%, AON -8.0%); Oct 31, 2025 (AJG -4.8%, AON +3.8%); Aug 31, 2026 (AJG -2.0%, AON -9.5%). Upcoming earnings: AON Oct 28, 2026 (pre-market); AJG Oct 29, 2026 (after-hours).
Paired trades
The shared paper book and the replay, kept apart
Forward paper record
No paper position on this pair yet.
Historical simulation (a diagnostic, same rules)
5 simulated trades to Oct 20, 2026: +4.27% per trade on average after costs, 4 won.
| Legs | Entered | Exited | Why | Days | Before costs | Costs + borrow | After costs |
|---|---|---|---|---|---|---|---|
| Long AON · Short AJG | Jun 4, 2020 | Jun 10, 2020 | divergence stop | 6 | -$663.28 | -$65.04 | -$730.08 (-7.30%) |
| Long AJG · Short AON | May 4, 2020 | May 21, 2020 | converged | 17 | $772.23 | -$49.05 | $728.13 (+7.28%) |
| Long AJG · Short AON | Apr 17, 2020 | Apr 30, 2020 | converged | 13 | $634.88 | -$43.73 | $594.98 (+5.95%) |
| Long AON · Short AJG | Apr 2, 2020 | Apr 9, 2020 | converged | 7 | $1,210.98 | -$48.84 | $1,160.07 (+11.60%) |
| Long AON · Short AJG | Dec 24, 2018 | Jan 22, 2019 | converged | 29 | $461.35 | -$70.00 | $382.83 (+3.83%) |
Per $10,000 a leg. A replay on today's companies cannot prove an edge.
The companies
AJG and AON at a glance
AJG Arthur J. Gallagher & Co.
- Listing
- NYSE · SEC CIK 354190
- Industry
- Specialty Insurers · SIC 6411 Insurance Agents, Brokers & Service
- Market value
- $64.8B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
AON Aon plc Class A Ordinary Shares (Ireland)
- Listing
- NYSE · SEC CIK 315293
- Industry
- Specialty Insurers · SIC 6411 Insurance Agents, Brokers & Service
- Market value
- $61.5B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.
Related
All pairs →Other rivals of AJG and AON
| Pair | Status | Ahead now | Industry |
|---|---|---|---|
| MRSH / AON | Watchlist | MRSH by 3.01 sd | Specialty Insurers |
| MRSH / AJG | Watchlist | AJG by 0.46 sd | Specialty Insurers |
Follow the research behind the paper book
Boostio is a research-first platform in private beta: crypto candidates, daily market stories, public paper trading and now rival stocks. Exploring these pages stays free and open.
Explore the private betaPaper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.
