CNA Financial Correlations

CNA Stock

USD 50.10 0.59 1.19%

The current 90-days correlation between CNA Financial and American Financial Group is 0.39 (i.e., Weak diversification). The correlation of CNA Financial 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.

CNA Financial Correlation With Market

Very weak diversification

The correlation between CNA Financial and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CNA Financial and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with CNA Stock

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

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

Moving together with CNA Stock

0.86	CB	Chubb	Pair Corr
0.63	TRV	The Travelers Companies	Pair Corr
0.68	WTM	White Mountains Insurance Earnings Call This Week	Pair Corr
0.71	FCAP	First Capital Normal Trading	Pair Corr
0.66	OBYCF	Obayashi Earnings Call This Week	Pair Corr

Moving against CNA Stock

0.45	FSTF	First State Financial	Pair Corr
0.36	ERHE	ERHC Energy	Pair Corr
0.64	HPQ	HP Inc	Pair Corr
0.43	MMM	3M Company	Pair Corr
0.31	NVNIW	Nvni Group Limited	Pair Corr

Related Correlations Analysis

	AFG	KNSL	RNR	RGA	FHN	UNM	AEG	BSAC	ORI
AFG		-0.11	-0.22	-0.08	-0.43	0.25	-0.12	-0.64	0.42	AFG
KNSL	-0.11		0.42	0.28	0.35	0.48	-0.09	0.44	-0.09	KNSL
RNR	-0.22	0.42		0.82	0.82	0.47	0.17	0.68	0.18	RNR
RGA	-0.08	0.28	0.82		0.88	0.58	0.08	0.5	0.48	RGA
FHN	-0.43	0.35	0.82	0.88		0.42	0.14	0.75	0.31	FHN
UNM	0.25	0.48	0.47	0.58	0.42		-0.08	0.15	0.41	UNM
AEG	-0.12	-0.09	0.17	0.08	0.14	-0.08		0.28	-0.01	AEG
BSAC	-0.64	0.44	0.68	0.5	0.75	0.15	0.28		-0.17	BSAC
ORI	0.42	-0.09	0.18	0.48	0.31	0.41	-0.01	-0.17		ORI
	AFG	KNSL	RNR	RGA	FHN	UNM	AEG	BSAC	ORI

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

FHN	+ 0.88	RGA
RGA	+ 0.82	RNR
FHN	+ 0.82	RNR
BSAC	+ 0.75	FHN
BSAC	+ 0.68	RNR
UNM	+ 0.58	RGA

High negative correlations

BSAC	- 0.64	AFG
FHN	- 0.43	AFG
RNR	- 0.22	AFG
ORI	- 0.17	BSAC
AEG	- 0.12	AFG
KNSL	- 0.11	AFG

Risk-Adjusted Indicators

There is a big difference between CNA Stock performing well and CNA Financial 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 CNA Financial'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
AFG	0.90	0.01	(0.02)	(0.03)	1.17	(0.94)	2.26	(2.02)	7.74
KNSL	1.42	0.04	0.01	0.22	1.72	(1.48)	3.98	(3.33)	8.82
RNR	1.04	0.28	0.21	(164.49)	0.98	(1.24)	2.58	(1.68)	5.84
RGA	0.92	0.17	0.14	0.49	0.85	(1.00)	2.36	(1.71)	5.26
FHN	1.04	0.26	0.21	0.31	0.93	(1.24)	3.35	(1.71)	7.47
UNM	0.95	0.04	0.02	0.17	0.95	(1.22)	1.99	(1.70)	10.28
AEG	1.18	0.00	0.00	0.03	2.06	(1.15)	2.39	(2.18)	11.41
BSAC	1.27	0.33	0.15	0.48	1.65	(1.29)	2.85	(2.86)	8.40
ORI	1.14	0.17	0.06	4.21	2.04	(1.17)	2.11	(1.95)	12.07

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