MGIC INVESTMENT Correlations

MGC Stock

EUR 24.40 0.60 2.52%

The current 90-days correlation between MGIC INVESTMENT and SMA Solar Technology is 0.04 (i.e., Significant diversification). The correlation of MGIC INVESTMENT 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.

MGIC INVESTMENT Correlation With Market

Modest diversification

The correlation between MGIC INVESTMENT and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MGIC INVESTMENT and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MGIC INVESTMENT could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MGIC INVESTMENT when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back MGIC INVESTMENT - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling MGIC INVESTMENT to buy it.

Moving together with MGIC Stock

0.77	APC	Apple Inc	Pair Corr
0.77	APC	Apple Inc	Pair Corr
0.76	APC	Apple Inc	Pair Corr
0.76	APC	Apple Inc	Pair Corr

Moving against MGIC Stock

0.61	CXT	Carmat SA	Pair Corr
0.56	DBPD	Xtrackers ShortDAX	Pair Corr
0.39	MTO	Mitie Group PLC	Pair Corr
0.36	MTO	METTLER TOLEDO INTL	Pair Corr
0.35	MTO	METTLER TOLEDO INTL	Pair Corr

Related Correlations Analysis

	S92	22F	VHY	MTE	PYA	I9V	ROW
S92		-0.86	0.79	-0.63	-0.89	-0.67	-0.88	S92
22F	-0.86		-0.6	0.69	0.89	0.62	0.92	22F
VHY	0.79	-0.6		-0.19	-0.67	-0.67	-0.65	VHY
MTE	-0.63	0.69	-0.19		0.63	0.34	0.74	MTE
PYA	-0.89	0.89	-0.67	0.63		0.77	0.9	PYA
I9V	-0.67	0.62	-0.67	0.34	0.77		0.61	I9V
ROW	-0.88	0.92	-0.65	0.74	0.9	0.61		ROW
	S92	22F	VHY	MTE	PYA	I9V	ROW

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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

ROW	+ 0.92	22F
ROW	+ 0.9	PYA
PYA	+ 0.89	22F
VHY	+ 0.79	S92
I9V	+ 0.77	PYA
ROW	+ 0.74	MTE

High negative correlations

PYA	- 0.89	S92
ROW	- 0.88	S92
22F	- 0.86	S92
I9V	- 0.67	VHY
PYA	- 0.67	VHY
I9V	- 0.67	S92

Risk-Adjusted Indicators

There is a big difference between MGIC Stock performing well and MGIC INVESTMENT 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 MGIC INVESTMENT'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
S92	2.74	(0.57)	0.00	1.24	0.00	0.00	4.99	(5.75)	25.26
22F	1.64	0.25	0.11	0.53	1.48	(2.27)	4.05	(3.57)	12.43
VHY	1.48	(0.49)	0.00	(0.15)	0.00	0.00	2.91	(3.38)	13.48
MTE	2.30	(0.01)	0.04	0.12	2.73	(2.35)	4.81	(3.82)	18.68
PYA	2.42	0.75	0.33	1.27	1.56	(3.28)	6.86	(2.86)	17.12
I9V	1.55	0.35	0.10	(0.65)	1.41	(1.96)	4.00	(2.13)	6.98
ROW	1.36	0.26	0.18	0.52	0.95	(1.77)	3.46	(2.07)	7.11

Be your own money manager

Our tools can tell you how much better you can do entering a position in MGIC INVESTMENT without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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