Chubb Correlations

CB Stock

USD 301.11 0.10 0.03%

The current 90-days correlation between Chubb and Progressive Corp is 0.63 (i.e., Poor diversification). The correlation of Chubb 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.

Chubb Correlation With Market

Significant diversification

The correlation between Chubb and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chubb and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Chubb Stock

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

For information on how to trade Chubb Stock refer to our How to Trade Chubb Stock guide.

Moving together with Chubb Stock

0.88	FIHL	Fidelis Insurance	Pair Corr
0.95	ACT	Enact Holdings	Pair Corr
0.9	AGO	Assured Guaranty	Pair Corr
0.95	AIZ	Assurant	Pair Corr
0.71	ALL	Allstate	Pair Corr
0.93	AXS	AXIS Capital Holdings	Pair Corr
0.81	CNA	CNA Financial	Pair Corr
0.9	MCY	Mercury General	Pair Corr
0.95	MKL	Markel	Pair Corr
0.86	ORI	Old Republic Interna Earnings Call This Week	Pair Corr
0.62	RLI	RLI Corp Earnings Call This Week	Pair Corr
0.69	THG	Hanover Insurance	Pair Corr
0.83	TRV	The Travelers Companies Earnings Call This Week	Pair Corr
0.85	WTM	White Mountains Insurance	Pair Corr
0.79	HGTY	Hagerty	Pair Corr
0.7	HRTG	Heritage Insurance Hldgs	Pair Corr
0.91	IGIC	International General	Pair Corr
0.84	IFC	Intact Financial	Pair Corr
0.94	DFY	Definity Financial Corp	Pair Corr
0.61	ACIC	American Coastal Ins	Pair Corr
0.91	SAFT	Safety Insurance	Pair Corr
0.63	SIGI	Selective Insurance	Pair Corr
0.63	SKWD	Skyward Specialty	Pair Corr
0.77	FFH	Fairfax Financial	Pair Corr
0.81	CINF	Cincinnati Financial	Pair Corr
0.79	DGICA	Donegal Group A	Pair Corr
0.83	UFCS	United Fire Group	Pair Corr

Moving against Chubb Stock

0.42	WRB	W R Berkley Earnings Call This Week	Pair Corr
0.4	QBE	QBE Insurance Group	Pair Corr
0.67	NDEKY	Nitto Denko Corp	Pair Corr
0.63	AMSF	AMERISAFE	Pair Corr
0.51	KNSL	Kinsale Capital Group	Pair Corr
0.34	SBRE	Sabre Insurance Group	Pair Corr

Related Correlations Analysis

	PGR	CB	CINF	WRB	ALL	MKL	RLI	WTM	WRB-PE
PGR		0.53	0.53	0.02	0.76	0.49	0.67	0.5	-0.34	PGR
CB	0.53		0.81	-0.42	0.71	0.95	0.62	0.85	-0.58	CB
CINF	0.53	0.81		-0.06	0.83	0.88	0.67	0.67	-0.66	CINF
WRB	0.02	-0.42	-0.06		0.14	-0.39	0.06	-0.61	0.15	WRB
ALL	0.76	0.71	0.83	0.14		0.73	0.7	0.5	-0.67	ALL
MKL	0.49	0.95	0.88	-0.39	0.73		0.6	0.81	-0.67	MKL
RLI	0.67	0.62	0.67	0.06	0.7	0.6		0.42	-0.66	RLI
WTM	0.5	0.85	0.67	-0.61	0.5	0.81	0.42		-0.39	WTM
WRB-PE	-0.34	-0.58	-0.66	0.15	-0.67	-0.67	-0.66	-0.39		WRB-PE
	PGR	CB	CINF	WRB	ALL	MKL	RLI	WTM	WRB-PE

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

MKL	+ 0.95	CB
MKL	+ 0.88	CINF
WTM	+ 0.85	CB
ALL	+ 0.83	CINF
CINF	+ 0.81	CB
WTM	+ 0.81	MKL

High negative correlations

WRB-PE	- 0.67	MKL
WRB-PE	- 0.67	ALL
WRB-PE	- 0.66	RLI
WRB-PE	- 0.66	CINF
WTM	- 0.61	WRB
WRB-PE	- 0.58	CB

Risk-Adjusted Indicators

There is a big difference between Chubb Stock performing well and Chubb 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 Chubb'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
PGR	1.15	(0.16)	0.00	(0.45)	0.00	0.00	1.94	(2.16)	8.94
CB	0.84	0.08	0.00	0.70	1.04	(0.85)	2.32	(1.98)	5.16
CINF	0.84	0.02	(0.03)	0.14	1.20	(0.77)	1.67	(1.51)	4.97
WRB	1.12	(0.20)	0.00	(0.32)	0.00	0.00	2.07	(3.52)	9.24
ALL	1.02	(0.11)	0.00	(0.16)	0.00	0.00	2.10	(2.37)	8.07
MKL	0.83	0.09	0.02	0.40	0.79	(0.92)	1.86	(1.11)	7.25
RLI	1.11	(0.07)	0.00	1.57	0.00	0.00	2.38	(2.87)	6.59
WTM	0.85	0.07	0.02	0.22	0.84	(0.94)	1.88	(1.63)	8.03
WRB-PE	0.41	(0.03)	(0.19)	(0.01)	0.52	(0.42)	0.68	(0.89)	2.16

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