Progressive Corp Correlations

PGR Stock

USD 213.66 1.93 0.91%

The current 90-days correlation between Progressive Corp and Chubb is 0.55 (i.e., Very weak diversification). The correlation of Progressive Corp 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.

Progressive Corp Correlation With Market

Excellent diversification

The correlation between Progressive Corp and DJI is -0.56 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Progressive Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Progressive Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Progressive Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

To learn how to invest in Progressive Stock, please use our How to Invest in Progressive Corp guide.

Moving together with Progressive Stock

0.63	DHU	Assured Guaranty	Pair Corr
0.81	PGV	Progressive	Pair Corr
0.73	AGO	Assured Guaranty	Pair Corr
0.79	AII	American Integrity	Pair Corr
0.72	BOW	Bowhead Specialty	Pair Corr
0.71	HCI	HCI Group Earnings Call This Week	Pair Corr
0.7	MBI	MBIA Inc	Pair Corr
0.7	FGPN	Ambac Financial Group	Pair Corr

Moving against Progressive Stock

0.77	2D7	Beazley PLC Earnings Call This Week	Pair Corr
0.71	EURK	Eureka Acquisition Corp	Pair Corr
0.6	ANK	Sompo Holdings	Pair Corr
0.6	FVN	Future Vision II	Pair Corr
0.53	TSU	Trisura Group	Pair Corr
0.34	EIG	Employers Holdings Normal Trading	Pair Corr
0.33	CB	Chubb	Pair Corr
0.33	ACT	Enact Holdings	Pair Corr
0.33	CNA	CNA Financial	Pair Corr
0.74	OBA	Oxley Bridge Acquisition	Pair Corr
0.63	WTG	Wintergreen Acquisition	Pair Corr
0.56	HSX	Hiscox	Pair Corr
0.51	PRA	ProAssurance	Pair Corr
0.47	LRE	Lancashire Holdings Earnings Call This Week	Pair Corr
0.47	COFA	Coface SA	Pair Corr
0.43	WTM	White Mountains Insurance	Pair Corr
0.42	SV2	Selective Insurance	Pair Corr
0.41	GBLI	Global Indemnity Earnings Call This Week	Pair Corr

Related Correlations Analysis

	CB	BBVA	UBS	TRV	BAC	IBN	IBKR	TD
CB		0.27	0.04	0.8	0.0	0.26	0.44	0.72	CB
BBVA	0.27		0.78	-0.16	0.05	-0.25	0.8	0.76	BBVA
UBS	0.04	0.78		-0.37	0.38	-0.41	0.44	0.64	UBS
TRV	0.8	-0.16	-0.37		-0.06	0.27	0.03	0.25	TRV
BAC	0.0	0.05	0.38	-0.06		0.08	-0.19	0.14	BAC
IBN	0.26	-0.25	-0.41	0.27	0.08		0.05	-0.04	IBN
IBKR	0.44	0.8	0.44	0.03	-0.19	0.05		0.76	IBKR
TD	0.72	0.76	0.64	0.25	0.14	-0.04	0.76		TD
	CB	BBVA	UBS	TRV	BAC	IBN	IBKR	TD

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

TRV	+ 0.8	CB
IBKR	+ 0.8	BBVA
UBS	+ 0.78	BBVA
TD	+ 0.76	BBVA
TD	+ 0.76	IBKR
TD	+ 0.72	CB

High negative correlations

IBN	- 0.41	UBS
TRV	- 0.37	UBS
IBN	- 0.25	BBVA
IBKR	- 0.19	BAC
TRV	- 0.16	BBVA
BAC	- 0.06	TRV

Risk-Adjusted Indicators

There is a big difference between Progressive Stock performing well and Progressive Corp 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 Progressive Corp'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
CB	0.81	0.20	0.12	2.28	0.71	(0.87)	2.08	(1.87)	7.40
BBVA	1.41	0.10	0.05	0.16	2.34	(1.33)	2.71	(3.11)	12.57
UBS	1.25	0.12	0.05	0.25	1.71	(1.26)	2.57	(2.44)	10.86
TRV	0.78	0.08	0.01	0.43	0.94	(0.81)	1.85	(1.47)	5.30
BAC	1.12	(0.15)	0.00	(0.03)	0.00	0.00	1.86	(2.81)	6.64
IBN	0.84	(0.07)	0.00	(0.03)	0.00	0.00	1.76	(2.05)	7.06
IBKR	1.81	0.08	0.08	0.12	2.06	(1.87)	5.14	(3.85)	11.82
TD	0.86	0.22	0.20	0.42	0.68	(1.06)	2.03	(1.52)	5.15

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