EMPLOYERS HLDGS Correlations

YGB Stock

EUR 48.60 0.40 0.83%

The current 90-days correlation between EMPLOYERS HLDGS DL and MGIC Investment is 0.21 (i.e., Modest diversification). The correlation of EMPLOYERS HLDGS 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.

EMPLOYERS HLDGS Correlation With Market

Poor diversification

The correlation between EMPLOYERS HLDGS DL and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EMPLOYERS HLDGS DL and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to EMPLOYERS HLDGS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EMPLOYERS HLDGS 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 EMPLOYERS HLDGS - 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 EMPLOYERS HLDGS DL to buy it.

Moving together with EMPLOYERS Stock

0.7	CMAB	Mapfre SA	Pair Corr
0.79	Y1F	First American Financial	Pair Corr
0.61	MGC	MGIC Investment	Pair Corr
0.9	DHU	Assured Guaranty	Pair Corr
0.64	RAG	Radian Group	Pair Corr
0.75	TPW	Trupanion	Pair Corr
0.95	ADH2	Air Canada	Pair Corr
0.67	M5V	EHEALTH	Pair Corr
0.96	KEY	KeyCorp	Pair Corr
0.85	SK3	Smurfit Kappa Group	Pair Corr
0.93	M4I	Mastercard	Pair Corr
0.73	HXL	Hexcel	Pair Corr
0.65	APC	Apple Inc	Pair Corr
0.82	0XHR	Xenia Hotels Resorts	Pair Corr
0.83	6GAA	Grupo Aval Acciones	Pair Corr
0.94	AF4	HANOVER INSURANCE	Pair Corr
0.84	2T9A	TRAINLINE PLC LS	Pair Corr
0.95	WD5A	TRAVEL LEISURE DL	Pair Corr
0.92	WX1	Acadia Realty Trust	Pair Corr
0.85	HIP	Park Hotels Resorts	Pair Corr
0.91	ZIM	Zimmer Biomet Holdings	Pair Corr
0.86	EQN2	Equinix	Pair Corr
0.8	AZ5	AutoZone	Pair Corr

Moving against EMPLOYERS Stock

0.84	BYRA	PT Bank Rakyat	Pair Corr
0.8	OB8	PT Barito Pacific	Pair Corr
0.65	TCID	Telkom Indonesia Tbk	Pair Corr
0.6	QPA1	Trisura Group	Pair Corr
0.56	BZG2	PT Bank Central	Pair Corr
0.5	NVPJ	TMBThanachart Bank Public	Pair Corr
0.4	3GU	nib holdings limited	Pair Corr

Related Correlations Analysis

	CMAB	Y1F	MGC	DHU	RAG	3GU	TPW	LNH	QPA1	YGB
CMAB		0.47	0.3	0.64	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		0.73	0.84	-0.2	0.59	0.31	-0.2	0.61	MGC
DHU	0.64	0.82	0.73		0.69	-0.42	0.83	0.34	-0.62	0.9	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	-0.42	-0.1		-0.24	-0.57	0.62	-0.4	3GU
TPW	0.79	0.66	0.59	0.83	0.51	-0.24		0.16	-0.39	0.75	TPW
LNH	0.07	0.49	0.31	0.34	0.36	-0.57	0.16		-0.2	0.43	LNH
QPA1	-0.44	-0.4	-0.2	-0.62	-0.18	0.62	-0.39	-0.2		-0.6	QPA1
YGB	0.7	0.79	0.61	0.9	0.64	-0.4	0.75	0.43	-0.6		YGB
	CMAB	Y1F	MGC	DHU	RAG	3GU	TPW	LNH	QPA1	YGB

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.9	DHU
MGC	+ 0.86	Y1F
RAG	+ 0.84	MGC
TPW	+ 0.83	DHU
DHU	+ 0.82	Y1F
RAG	+ 0.82	Y1F

High negative correlations

QPA1	- 0.62	DHU
YGB	- 0.6	QPA1
LNH	- 0.57	3GU
QPA1	- 0.44	CMAB
3GU	- 0.42	DHU
YGB	- 0.4	3GU

Risk-Adjusted Indicators

There is a big difference between EMPLOYERS Stock performing well and EMPLOYERS HLDGS 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 EMPLOYERS HLDGS'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	2.37	0.32	0.09	(1.67)	2.64	(2.85)	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 EMPLOYERS HLDGS 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.

Did you try this?

Run Competition Analyzer Now

Competition Analyzer

Analyze and compare many basic indicators for a group of related or unrelated entities

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC