Fidelity National Correlations

FNF Stock

USD 58.56 0.57 0.98%

The current 90-days correlation between Fidelity National and AXIS Capital Holdings is 0.69 (i.e., Poor diversification). The correlation of Fidelity National 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.

Fidelity National Correlation With Market

Modest diversification

The correlation between Fidelity National Financial and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity National Financial and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity National 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 board of governors.

Moving together with Fidelity Stock

0.9	ACT	Enact Holdings	Pair Corr
0.87	FAF	First American	Pair Corr
0.89	MTG	MGIC Investment Corp	Pair Corr
0.92	RDN	Radian Group Earnings Call This Week	Pair Corr
0.87	AXS-PE	AXIS Capital Holdings	Pair Corr
0.65	ITIC	Investors Title	Pair Corr
0.88	NMIH	NMI Holdings	Pair Corr
0.91	RYAN	Ryan Specialty Group	Pair Corr
0.81	AMSF	AMERISAFE	Pair Corr
0.68	TIPT	Tiptree	Pair Corr
0.77	TRUP	Trupanion	Pair Corr
0.76	DHIL	Diamond Hill Investment	Pair Corr
0.68	AX	Axos Financial	Pair Corr
0.63	BX	Blackstone Group	Pair Corr
0.61	BY	Byline Bancorp	Pair Corr
0.79	CB	Chubb Sell-off Trend	Pair Corr
0.73	EG	Everest Group Earnings Call This Week	Pair Corr
0.78	FG	FG Annuities Life	Pair Corr

Moving against Fidelity Stock

0.59	ICCH	ICC Holdings	Pair Corr
0.48	LX	Lexinfintech Holdings Trending	Pair Corr
0.4	RM	Regional Management Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	AXS	AGO	ACT	NMIH	RDN	ESNT	JRVR	MTG	EIG
AXS		0.77	0.15	0.14	0.16	-0.32	-0.79	0.25	0.52	AXS
AGO	0.77		0.3	0.32	0.43	-0.09	-0.67	0.5	0.59	AGO
ACT	0.15	0.3		0.93	0.92	0.48	0.1	0.92	0.52	ACT
NMIH	0.14	0.32	0.93		0.93	0.56	0.16	0.95	0.39	NMIH
RDN	0.16	0.43	0.92	0.93		0.51	0.06	0.97	0.51	RDN
ESNT	-0.32	-0.09	0.48	0.56	0.51		0.45	0.55	-0.35	ESNT
JRVR	-0.79	-0.67	0.1	0.16	0.06	0.45		0.03	-0.41	JRVR
MTG	0.25	0.5	0.92	0.95	0.97	0.55	0.03		0.46	MTG
EIG	0.52	0.59	0.52	0.39	0.51	-0.35	-0.41	0.46		EIG
	AXS	AGO	ACT	NMIH	RDN	ESNT	JRVR	MTG	EIG

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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

MTG	+ 0.97	RDN
MTG	+ 0.95	NMIH
NMIH	+ 0.93	ACT
RDN	+ 0.93	NMIH
RDN	+ 0.92	ACT
MTG	+ 0.92	ACT

High negative correlations

JRVR	- 0.79	AXS
JRVR	- 0.67	AGO
EIG	- 0.41	JRVR
EIG	- 0.35	ESNT
ESNT	- 0.32	AXS
ESNT	- 0.09	AGO

Risk-Adjusted Indicators

There is a big difference between Fidelity Stock performing well and Fidelity National 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 Fidelity National'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
AXS	1.15	0.15	0.06	0.88	1.37	(1.23)	2.80	(2.54)	9.01
AGO	1.16	0.15	0.07	0.57	1.30	(1.24)	2.32	(2.60)	10.52
ACT	0.92	(0.10)	0.00	(0.13)	0.00	0.00	1.75	(2.37)	7.73
NMIH	1.21	(0.07)	0.00	(0.06)	0.00	0.00	2.60	(3.63)	9.75
RDN	1.32	(0.04)	(0.03)	0.01	2.15	(1.38)	2.35	(2.89)	11.00
ESNT	1.13	(0.06)	0.00	0.43	0.00	0.00	1.96	(2.51)	11.43
JRVR	2.23	(0.52)	0.00	(1.24)	0.00	0.00	3.47	(4.22)	31.98
MTG	1.10	(0.04)	(0.04)	0.01	1.78	(1.06)	2.24	(3.13)	7.79
EIG	1.03	0.02	(0.01)	0.12	1.17	(1.16)	2.00	(2.11)	12.08

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