MGIC Investment Correlations

MGC Stock

EUR 22.40 0.60 2.61%

The current 90-days correlation between MGIC Investment and Mapfre SA is 0.02 (i.e., Significant diversification). The correlation of MGIC Investment 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.

MGIC Investment Correlation With Market

Modest diversification

The correlation between MGIC Investment and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MGIC Investment and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MGIC Investment could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MGIC Investment when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back MGIC Investment - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling MGIC Investment to buy it.

Moving together with MGIC Stock

0.86	Y1F	First American Financial	Pair Corr
0.7	DHU	Assured Guaranty	Pair Corr
0.84	RAG	Radian Group	Pair Corr
0.61	YGB	EMPLOYERS HLDGS DL	Pair Corr
0.66	KEY	KeyCorp	Pair Corr
0.61	M4I	Mastercard	Pair Corr
0.62	HXL	Hexcel	Pair Corr
0.66	6GAA	Grupo Aval Acciones	Pair Corr
0.66	AF4	HANOVER INSURANCE	Pair Corr
0.64	WX1	Acadia Realty Trust	Pair Corr
0.67	EQN2	Equinix	Pair Corr

Moving against MGIC Stock

0.46	BYRA	PT Bank Rakyat	Pair Corr
0.43	OB8	PT Barito Pacific	Pair Corr
0.36	BZG2	PT Bank Central	Pair Corr

Related Correlations Analysis

	CMAB	Y1F	MGC	DHU	RAG	3GU	TPW	LNH	QPA1	YGB
CMAB		0.47	0.3	0.66	0.29	-0.23	0.79	0.07	-0.44	0.7	CMAB
Y1F	0.47		0.86	0.82	0.82	-0.37	0.66	0.49	-0.4	0.79	Y1F
MGC	0.3	0.86		0.7	0.84	-0.2	0.59	0.31	-0.2	0.61	MGC
DHU	0.66	0.82	0.7		0.69	-0.38	0.81	0.32	-0.58	0.93	DHU
RAG	0.29	0.82	0.84	0.69		-0.1	0.51	0.36	-0.18	0.64	RAG
3GU	-0.23	-0.37	-0.2	-0.38	-0.1		-0.24	-0.57	0.62	-0.4	3GU
TPW	0.79	0.66	0.59	0.81	0.51	-0.24		0.16	-0.39	0.75	TPW
LNH	0.07	0.49	0.31	0.32	0.36	-0.57	0.16		-0.2	0.43	LNH
QPA1	-0.44	-0.4	-0.2	-0.58	-0.18	0.62	-0.39	-0.2		-0.6	QPA1
YGB	0.7	0.79	0.61	0.93	0.64	-0.4	0.75	0.43	-0.6		YGB
	CMAB	Y1F	MGC	DHU	RAG	3GU	TPW	LNH	QPA1	YGB

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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

YGB	+ 0.93	DHU
MGC	+ 0.86	Y1F
RAG	+ 0.84	MGC
DHU	+ 0.82	Y1F
RAG	+ 0.82	Y1F
TPW	+ 0.81	DHU

High negative correlations

YGB	- 0.6	QPA1
QPA1	- 0.58	DHU
LNH	- 0.57	3GU
QPA1	- 0.44	CMAB
YGB	- 0.4	3GU
QPA1	- 0.4	Y1F

Risk-Adjusted Indicators

There is a big difference between MGIC Stock performing well and MGIC Investment 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 MGIC Investment'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
CMAB	0.95	0.05	0.03	1.39	1.07	(1.15)	2.02	(1.98)	6.75
Y1F	1.06	0.01	(0.01)	0.04	1.22	(1.47)	2.55	(2.38)	6.83
MGC	1.16	(0.03)	0.00	(0.03)	0.00	0.00	2.52	(2.61)	8.72
DHU	2.32	0.24	0.08	0.19	2.65	(2.75)	4.84	(4.62)	15.30
RAG	1.23	(0.07)	0.00	(0.06)	0.00	0.00	2.74	(3.16)	10.70
3GU	1.72	(0.18)	0.00	(0.15)	0.00	0.00	3.55	(3.55)	23.33
TPW	2.30	0.39	0.12	0.80	2.72	(2.31)	5.34	(4.16)	14.25
LNH	1.79	(0.01)	0.00	0.01	2.43	(1.93)	3.97	(2.93)	13.76
QPA1	1.36	(0.11)	0.00	(0.14)	0.00	0.00	2.86	(2.92)	8.54
YGB	1.08	0.18	0.14	0.16	0.89	(1.54)	2.00	(1.82)	11.38

Be your own money manager

Our tools can tell you how much better you can do entering a position in MGIC Investment without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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MGIC Investment Corporate Management

Elected by the shareholders, the MGIC Investment's board of directors comprises two types of representatives: MGIC Investment inside directors who are chosen from within the company, and outside directors, selected externally and held independent of MGIC. The board's role is to monitor MGIC Investment's management team and ensure that shareholders' interests are well served. MGIC Investment's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, MGIC Investment's outside directors are responsible for providing unbiased perspectives on the board's policies.

Paula Maggio	Gen VP	Profile
Annette Adams	VP MGIC	Profile
Salvatore Miosi	Pres COO	Profile
Dianna Higgins	VP Relations	Profile
Robert Candelmo	VP MGIC	Profile
Nathaniel Colson	Ex CFO	Profile
James Hughes	Exec MGIC	Profile

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