Goosehead Insurance Correlations

GSHD Stock

USD 70.16 3.49 4.74%

The current 90-days correlation between Goosehead Insurance and Accelerant Holdings is 0.3 (i.e., Weak diversification). The correlation of Goosehead Insurance 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.

Goosehead Insurance Correlation With Market

Average diversification

The correlation between Goosehead Insurance and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goosehead Insurance and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Goosehead Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Goosehead Insurance. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

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

Moving together with Goosehead Stock

0.7	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.66	SAR	Saratoga Investment Corp Earnings Call This Week	Pair Corr
0.77	ACN	Accenture plc	Pair Corr
0.72	VLKAF	Volkswagen AG	Pair Corr
0.72	VWAGY	Volkswagen AG 110	Pair Corr
0.72	VLKPF	Volkswagen AG VZO	Pair Corr
0.65	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.69	FTV	Fortive Corp	Pair Corr
0.64	AA	Alcoa Corp	Pair Corr
0.63	JNJ	Johnson Johnson	Pair Corr

Moving against Goosehead Stock

0.43	JD	JD Inc Adr Aggressive Push	Pair Corr
0.48	MSFT	Microsoft	Pair Corr
0.4	HD	Home Depot	Pair Corr

Related Correlations Analysis

	ARX	BHF	HCI	HG	KMPR	BOH	OAK-PB	CVBF	OAK-PA
ARX		0.45	-0.28	0.73	-0.11	0.78	-0.43	0.66	-0.36	ARX
BHF	0.45		-0.67	0.84	-0.88	0.65	-0.77	0.51	-0.83	BHF
HCI	-0.28	-0.67		-0.45	0.56	-0.17	0.39	-0.34	0.56	HCI
HG	0.73	0.84	-0.45		-0.65	0.81	-0.68	0.71	-0.7	HG
KMPR	-0.11	-0.88	0.56	-0.65		-0.44	0.7	-0.29	0.73	KMPR
BOH	0.78	0.65	-0.17	0.81	-0.44		-0.6	0.71	-0.52	BOH
OAK-PB	-0.43	-0.77	0.39	-0.68	0.7	-0.6		-0.29	0.83	OAK-PB
CVBF	0.66	0.51	-0.34	0.71	-0.29	0.71	-0.29		-0.39	CVBF
OAK-PA	-0.36	-0.83	0.56	-0.7	0.73	-0.52	0.83	-0.39		OAK-PA
	ARX	BHF	HCI	HG	KMPR	BOH	OAK-PB	CVBF	OAK-PA

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

HG	+ 0.84	BHF
OAK-PA	+ 0.83	OAK-PB
BOH	+ 0.81	HG
BOH	+ 0.78	ARX
HG	+ 0.73	ARX
OAK-PA	+ 0.73	KMPR

High negative correlations

KMPR	- 0.88	BHF
OAK-PA	- 0.83	BHF
OAK-PB	- 0.77	BHF
OAK-PA	- 0.7	HG
OAK-PB	- 0.68	HG
HCI	- 0.67	BHF

Risk-Adjusted Indicators

There is a big difference between Goosehead Stock performing well and Goosehead Insurance 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 Goosehead Insurance'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
ARX	2.67	0.08	0.02	0.18	2.85	(3.07)	6.16	(4.65)	14.89
BHF	1.89	0.40	0.16	(2.65)	1.62	(2.65)	3.10	(4.59)	31.02
HCI	1.72	(0.12)	0.00	(0.04)	0.00	0.00	3.12	(4.09)	12.30
HG	1.26	0.11	0.06	0.20	1.29	(1.46)	2.56	(2.34)	12.52
KMPR	1.60	(0.41)	0.00	(0.48)	0.00	0.00	3.57	(3.07)	19.01
BOH	1.05	0.06	0.02	0.19	1.45	(1.17)	2.30	(2.41)	6.96
OAK-PB	0.51	(0.05)	0.00	(0.31)	0.00	0.00	0.94	(1.17)	4.82
CVBF	1.20	(0.03)	(0.03)	(0.01)	1.62	(1.24)	2.93	(2.96)	8.12
OAK-PA	0.62	(0.04)	0.00	(0.22)	0.00	0.00	1.20	(1.15)	5.29

Goosehead Insurance Corporate Management

David Lakamp	Chief Officer	Profile
Patrick Langston	VP, Officer	Profile
Dan Jacobs	Vice Operations	Profile
Matt Walker	Managing Compliance	Profile

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