Horace Mann Correlations

HMN Stock

USD 40.93 0.55 1.36%

The current 90-days correlation between Horace Mann Educators and RLI Corp is 0.56 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Horace Mann moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Horace Mann Educators moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Horace Mann Correlation With Market

Very weak diversification

The correlation between Horace Mann Educators and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horace Mann Educators and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Horace Stock

0.71	L	Loews Corp	Pair Corr
0.81	AIZ	Assurant	Pair Corr
0.66	ALL	Allstate	Pair Corr
0.71	BOW	Bowhead Specialty	Pair Corr
0.66	HCI	HCI Group	Pair Corr
0.94	MCY	Mercury General	Pair Corr
0.8	MKL	Markel	Pair Corr
0.8	ORI	Old Republic Interna Fiscal Year End 23rd of January 2025	Pair Corr
0.87	PRA	ProAssurance	Pair Corr
0.91	RLI	RLI Corp Fiscal Year End 22nd of January 2025	Pair Corr
0.85	THG	Hanover Insurance	Pair Corr
0.77	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.67	WRB	W R Berkley Normal Trading	Pair Corr
0.78	WTM	White Mountains Insurance	Pair Corr
0.79	KINS	Kingstone Companies Trending	Pair Corr
0.89	KMPR	Kemper	Pair Corr
0.83	LMND	Lemonade Trending	Pair Corr
0.69	NODK	NI Holdings	Pair Corr
0.73	ALL-PB	Allstate	Pair Corr

Moving against Horace Stock

0.42	FACO	First Acceptance Corp	Pair Corr
0.36	CNA	CNA Financial	Pair Corr
0.47	HRTG	Heritage Insurance Hldgs Normal Trading	Pair Corr
0.73	WRB-PG	WR Berkley	Pair Corr
0.6	ALL-PI	Allstate	Pair Corr
0.51	ALL-PH	Allstate	Pair Corr
0.44	WRB-PH	WR Berkley	Pair Corr

Related Correlations Analysis

	KMPR	RLI	GBLI	ARGO-PA	SIGI	NODK	DGICA	SIGIP	PRA
KMPR		0.91	0.24	0.66	0.76	0.61	0.79	-0.22	0.8	KMPR
RLI	0.91		0.3	0.79	0.92	0.59	0.66	0.02	0.9	RLI
GBLI	0.24	0.3		0.32	0.33	0.29	0.09	0.3	0.33	GBLI
ARGO-PA	0.66	0.79	0.32		0.72	0.65	0.44	0.22	0.83	ARGO-PA
SIGI	0.76	0.92	0.33	0.72		0.54	0.49	0.24	0.85	SIGI
NODK	0.61	0.59	0.29	0.65	0.54		0.52	0.15	0.67	NODK
DGICA	0.79	0.66	0.09	0.44	0.49	0.52		-0.4	0.46	DGICA
SIGIP	-0.22	0.02	0.3	0.22	0.24	0.15	-0.4		0.26	SIGIP
PRA	0.8	0.9	0.33	0.83	0.85	0.67	0.46	0.26		PRA
	KMPR	RLI	GBLI	ARGO-PA	SIGI	NODK	DGICA	SIGIP	PRA

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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

SIGI	+ 0.92	RLI
RLI	+ 0.91	KMPR
PRA	+ 0.9	RLI
PRA	+ 0.85	SIGI
PRA	+ 0.83	ARGO-PA
PRA	+ 0.8	KMPR

High negative correlations

SIGIP	- 0.4	DGICA
SIGIP	- 0.22	KMPR

Risk-Adjusted Indicators

There is a big difference between Horace Stock performing well and Horace Mann 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 Horace Mann'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
KMPR	1.02	0.13	0.09	0.23	1.10	(1.09)	2.28	(1.57)	5.66
RLI	0.83	0.16	0.12	0.24	1.15	(0.90)	1.76	(1.82)	7.01
GBLI	0.98	0.15	0.06	0.55	0.99	(1.35)	2.91	(1.97)	9.05
ARGO-PA	0.24	0.02	(0.18)	(0.34)	0.27	(0.25)	0.60	(0.48)	1.78
SIGI	1.14	0.02	0.03	0.10	1.22	(1.24)	2.13	(1.82)	8.59
NODK	1.08	0.01	(0.02)	0.10	1.40	(1.12)	2.09	(2.27)	5.60
DGICA	1.14	0.10	0.03	0.25	1.58	(1.26)	2.51	(1.90)	12.60
SIGIP	0.61	(0.02)	0.00	(0.25)	0.00	0.00	1.28	(1.29)	4.06
PRA	1.66	0.26	0.10	2.31	1.80	(1.90)	3.11	(3.27)	11.30

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