Hagerty Correlations

HGTY Stock

USD 12.14 0.36 2.88%

The current 90-days correlation between Hagerty and Mercury General is 0.36 (i.e., Weak diversification). The correlation of Hagerty 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Hagerty Correlation With Market

Modest diversification

The correlation between Hagerty and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hagerty and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hagerty Stock

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

For more information on how to buy Hagerty Stock please use our How to Invest in Hagerty guide.

Moving together with Hagerty Stock

0.71	FIHL	Fidelis Insurance	Pair Corr
0.73	ACT	Enact Holdings Earnings Call This Week	Pair Corr
0.68	THG	Hanover Insurance Earnings Call This Week	Pair Corr
0.83	TRV	The Travelers Companies Sell-off Trend	Pair Corr
0.85	HRTG	Heritage Insurance Hldgs	Pair Corr
0.73	IGIC	International General	Pair Corr
0.88	SAFT	Safety Insurance	Pair Corr
0.61	SKWD	Skyward Specialty	Pair Corr
0.67	JBTC	Jonestown Bank	Pair Corr
0.64	IMBBY	Imperial Brands PLC	Pair Corr

Moving against Hagerty Stock

0.58	SBRE	Sabre Insurance Group	Pair Corr
0.45	IGTA	Inception Growth Acq	Pair Corr

Related Correlations Analysis

	MCY	AHL	SIGI	FG	CNO	AGO	TFSL	CRVL	PJT	TCBI
MCY		0.65	0.69	0.45	0.64	0.91	0.67	-0.64	-0.02	0.64	MCY
AHL	0.65		0.71	-0.19	0.62	0.45	0.74	-0.75	0.56	0.92	AHL
SIGI	0.69	0.71		0.0	0.86	0.6	0.49	-0.6	0.36	0.66	SIGI
FG	0.45	-0.19	0.0		0.04	0.6	0.15	-0.01	-0.5	-0.01	FG
CNO	0.64	0.62	0.86	0.04		0.62	0.48	-0.53	0.22	0.6	CNO
AGO	0.91	0.45	0.6	0.6	0.62		0.52	-0.48	-0.19	0.46	AGO
TFSL	0.67	0.74	0.49	0.15	0.48	0.52		-0.5	0.4	0.83	TFSL
CRVL	-0.64	-0.75	-0.6	-0.01	-0.53	-0.48	-0.5		-0.29	-0.71	CRVL
PJT	-0.02	0.56	0.36	-0.5	0.22	-0.19	0.4	-0.29		0.61	PJT
TCBI	0.64	0.92	0.66	-0.01	0.6	0.46	0.83	-0.71	0.61		TCBI
	MCY	AHL	SIGI	FG	CNO	AGO	TFSL	CRVL	PJT	TCBI

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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

TCBI	+ 0.92	AHL
AGO	+ 0.91	MCY
CNO	+ 0.86	SIGI
TCBI	+ 0.83	TFSL
TFSL	+ 0.74	AHL
SIGI	+ 0.71	AHL

High negative correlations

CRVL	- 0.75	AHL
TCBI	- 0.71	CRVL
CRVL	- 0.64	MCY
CRVL	- 0.6	SIGI
CRVL	- 0.53	CNO
CRVL	- 0.5	TFSL

Risk-Adjusted Indicators

There is a big difference between Hagerty Stock performing well and Hagerty 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 Hagerty'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
MCY	1.06	0.12	0.05	1.28	1.11	(1.13)	2.59	(1.94)	7.17
AHL	0.10	0.01	(0.41)	0.27	0.00	(0.12)	0.22	(0.19)	0.76
SIGI	1.13	(0.07)	0.00	(0.06)	0.00	0.00	1.95	(1.86)	5.68
FG	1.67	(0.11)	0.00	(0.02)	0.00	0.00	3.02	(3.36)	11.40
CNO	0.96	0.02	0.00	0.10	1.19	(0.99)	2.09	(1.93)	7.94
AGO	0.82	0.01	(0.04)	0.09	0.99	(1.01)	1.63	(1.39)	10.58
TFSL	1.12	0.07	0.04	0.15	1.37	(1.13)	2.44	(2.24)	7.15
CRVL	1.33	(0.18)	0.00	(0.12)	0.00	0.00	3.06	(2.53)	8.84
PJT	1.48	(0.06)	(0.02)	0.02	2.32	(1.36)	3.08	(4.73)	10.14
TCBI	1.26	0.19	0.12	0.22	1.40	(1.39)	3.04	(2.35)	10.21

Hagerty Corporate Management

Diana Chafey	Chief Secretary	Profile
Marc Burns	Senior Marketing	Profile
Daniel Ignoto	VP Partnerships	Profile
John Butcher	Pres Markets	Profile
Collette Champagne	Chief Officer	Profile
Chuck Favour	Chief Officer	Profile
Paul BA	Marketing Media	Profile

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