Heritage Insurance Correlations

HRTG Stock

USD 12.43 0.07 0.57%

The current 90-days correlation between Heritage Insurance Hldgs and Universal Insurance Holdings is 0.63 (i.e., Poor diversification). The correlation of Heritage Insurance is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Heritage Insurance Correlation With Market

Average diversification

The correlation between Heritage Insurance Hldgs and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heritage Insurance Hldgs and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Heritage Insurance Hldgs. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Heritage Stock

0.64	STC	Stewart Information	Pair Corr
0.74	TILCF	Till Capital	Pair Corr

Moving against Heritage Stock

0.75	FRFHF	Fairfax Financial	Pair Corr
0.62	HCI	HCI Group	Pair Corr
0.59	PRA	ProAssurance	Pair Corr
0.44	MCY	Mercury General	Pair Corr
0.39	HMN	Horace Mann Educators	Pair Corr
0.36	RLI	RLI Corp Fiscal Year End 22nd of January 2025	Pair Corr
0.87	TKOMY	Tokio Marine Holdings	Pair Corr
0.63	ALL-PB	Allstate	Pair Corr
0.46	NODK	NI Holdings Potential Growth	Pair Corr
0.45	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.44	SIGIP	Selective Insurance	Pair Corr
0.42	WTM	White Mountains Insurance	Pair Corr
0.34	GBLI	Global Indemnity PLC Normal Trading	Pair Corr
0.32	THG	Hanover Insurance	Pair Corr
0.68	ARGO-PA	Argo Group International	Pair Corr
0.51	SKWD	Skyward Specialty	Pair Corr

Related Correlations Analysis

	UVE	DGICB	HMN	NODK	HCI	KINS	UFCS	FNHCQ	CNFR
UVE		0.37	0.43	0.22	0.1	0.48	0.65	0.0	0.0	UVE
DGICB	0.37		0.83	0.61	0.57	0.76	0.7	0.0	0.19	DGICB
HMN	0.43	0.83		0.77	0.63	0.83	0.82	0.0	0.21	HMN
NODK	0.22	0.61	0.77		0.51	0.76	0.71	0.0	0.16	NODK
HCI	0.1	0.57	0.63	0.51		0.48	0.34	0.0	0.13	HCI
KINS	0.48	0.76	0.83	0.76	0.48		0.93	0.0	0.17	KINS
UFCS	0.65	0.7	0.82	0.71	0.34	0.93		0.0	0.11	UFCS
FNHCQ	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	FNHCQ
CNFR	0.0	0.19	0.21	0.16	0.13	0.17	0.11	0.0		CNFR
	UVE	DGICB	HMN	NODK	HCI	KINS	UFCS	FNHCQ	CNFR

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

UFCS	+ 0.93	KINS
HMN	+ 0.83	DGICB
KINS	+ 0.83	HMN
UFCS	+ 0.82	HMN
NODK	+ 0.77	HMN
KINS	+ 0.76	DGICB

High negative correlations

CNFR	- 0.0	FNHCQ
FNHCQ	- 0.0	UFCS
FNHCQ	- 0.0	KINS
FNHCQ	- 0.0	HCI
FNHCQ	- 0.0	NODK
FNHCQ	- 0.0	HMN

Risk-Adjusted Indicators

There is a big difference between Heritage Stock performing well and Heritage Insurance Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Heritage Insurance's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
UVE	1.96	(0.02)	0.01	0.11	3.99	(1.97)	4.41	(3.82)	22.93
DGICB	2.24	0.33	0.06	(10.20)	2.44	(3.41)	7.61	(4.52)	14.48
HMN	1.31	0.14	0.10	0.24	1.33	(1.42)	2.13	(2.23)	11.51
NODK	1.07	0.05	(0.01)	0.24	1.31	(1.14)	2.09	(2.04)	6.11
HCI	2.17	0.30	0.08	0.38	3.76	(2.19)	4.42	(3.53)	22.07
KINS	2.92	0.88	0.24	2.36	2.51	(3.32)	6.56	(4.14)	18.21
UFCS	1.89	0.26	0.33	0.21	1.09	(2.29)	4.67	(2.44)	28.11
FNHCQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CNFR	5.30	1.77	0.19	(0.29)	4.64	(7.41)	12.37	(6.73)	82.80

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