Maiden Holdings Correlations

MHNC Stock

USD 17.16 0.26 1.49%

The current 90-days correlation between Maiden Holdings North and Maiden Holdings is 0.33 (i.e., Weak diversification). The correlation of Maiden Holdings 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.

Maiden Holdings Correlation With Market

Average diversification

The correlation between Maiden Holdings North and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Maiden Holdings North and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Maiden Holdings North. 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.

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

Moving together with Maiden Stock

0.81	MHLA	Maiden Holdings	Pair Corr
0.62	GEGGL	Great Elm Group	Pair Corr
0.77	FIS	Fidelity National	Pair Corr
0.76	RCB	Ready Capital	Pair Corr
0.65	OXSQG	Oxford Square Capital	Pair Corr
0.67	ATMCR	AlphaTime Acquisition	Pair Corr

Moving against Maiden Stock

0.44	STSSW	Sharps Technology Warrant	Pair Corr
0.42	FAAS	DigiAsia Corp Symbol Change	Pair Corr
0.48	OSCR	Oscar Health	Pair Corr
0.36	MOGO	Mogo Inc	Pair Corr

Related Correlations Analysis

	MHLA	MGR	ENJ	AFGE	RZB
MHLA		0.39	0.18	0.05	0.16	MHLA
MGR	0.39		0.8	0.3	0.7	MGR
ENJ	0.18	0.8		0.19	0.66	ENJ
AFGE	0.05	0.3	0.19		0.02	AFGE
RZB	0.16	0.7	0.66	0.02		RZB
	MHLA	MGR	ENJ	AFGE	RZB

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Risk-Adjusted Indicators

There is a big difference between Maiden Stock performing well and Maiden Holdings 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 Maiden Holdings' 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
MHLA	1.11	0.06	(0.02)	0.35	1.54	(1.24)	2.54	(2.45)	10.27
MGR	0.45	0.01	(0.15)	0.20	0.60	(0.45)	0.87	(1.13)	2.85
ENJ	0.83	0.02	(0.07)	0.19	0.84	(1.14)	2.30	(1.65)	6.70
AFGE	0.74	(0.08)	0.00	(0.13)	0.00	0.00	1.41	(1.59)	5.37
RZB	0.19	(0.02)	(0.44)	(0.04)	0.24	(0.20)	0.40	(0.36)	1.23

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