Argo Group Correlations

ARGD Stock

USD 22.25 0.20 0.91%

The current 90-days correlation between Argo Group 65 and Brighthouse Financial is 0.48 (i.e., Very weak diversification). The correlation of Argo Group 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.

Argo Group Correlation With Market

Significant diversification

The correlation between Argo Group 65 and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Argo Group 65 and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Argo Group 65. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Argo Stock

0.71	BHFAL	Brighthouse Financial	Pair Corr
0.71	EU	enCore Energy Corp	Pair Corr
0.65	TK	Teekay	Pair Corr

Moving against Argo Stock

0.55	VIVK	Vivakor	Pair Corr
0.41	NR	Newpark Resources	Pair Corr
0.37	VTLE	Vital Energy	Pair Corr
0.58	ENSV	Enservco	Pair Corr
0.48	BPT	BP Prudhoe Bay	Pair Corr
0.35	VTOL	Bristow Group	Pair Corr

Related Correlations Analysis

	BHFAL	AFGB	CMSC	AEFC	RZB
BHFAL		0.4	0.47	0.17	0.8	BHFAL
AFGB	0.4		0.28	0.5	0.62	AFGB
CMSC	0.47	0.28		0.55	0.65	CMSC
AEFC	0.17	0.5	0.55		0.5	AEFC
RZB	0.8	0.62	0.65	0.5		RZB
	BHFAL	AFGB	CMSC	AEFC	RZB

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Risk-Adjusted Indicators

There is a big difference between Argo Stock performing well and Argo Group 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 Argo Group'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
BHFAL	0.55	0.07	(0.03)	0.40	0.52	(0.59)	1.39	(0.96)	3.16
AFGB	0.43	(0.03)	0.00	(0.44)	0.00	0.00	0.89	(0.88)	2.20
CMSC	0.31	(0.01)	(0.29)	0.37	0.42	(0.30)	0.69	(0.65)	1.43
AEFC	0.56	(0.07)	0.00	(7.11)	0.00	0.00	1.18	(1.56)	3.34
RZB	0.20	(0.01)	(0.39)	0.04	0.23	(0.20)	0.40	(0.36)	1.23

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