Progressive Corp Correlations

PGR Stock

USD 207.56 2.02 0.98%

The current 90-days correlation between Progressive Corp and Chubb is -0.01 (i.e., Good 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

Significant diversification

The correlation between Progressive Corp and DJI is 0.01 (i.e., Significant 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 price.

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

Moving together with Progressive Stock

0.86	AGO	Assured Guaranty	Pair Corr
0.76	ALL	Allstate Earnings Call This Week	Pair Corr
0.68	MKL	Markel	Pair Corr
0.69	TRV	The Travelers Companies	Pair Corr
0.74	HGTY	Hagerty	Pair Corr

Moving against Progressive Stock

0.36	SBRE	Sabre Insurance Group	Pair Corr
0.61	HD	Home Depot	Pair Corr
0.41	PG	Procter Gamble	Pair Corr
0.37	RILYL	B Riley Financial	Pair Corr
0.35	INTC	Intel	Pair Corr

Related Correlations Analysis

	CB	BBVA	UBS	TRV	BAC	IBN	IBKR	TD
CB		0.67	0.74	0.6	0.62	-0.16	-0.01	0.81	CB
BBVA	0.67		0.9	0.04	0.26	-0.37	0.59	0.91	BBVA
UBS	0.74	0.9		0.05	0.5	-0.42	0.51	0.96	UBS
TRV	0.6	0.04	0.05		0.36	0.11	-0.56	0.11	TRV
BAC	0.62	0.26	0.5	0.36		0.04	-0.07	0.52	BAC
IBN	-0.16	-0.37	-0.42	0.11	0.04		-0.27	-0.38	IBN
IBKR	-0.01	0.59	0.51	-0.56	-0.07	-0.27		0.42	IBKR
TD	0.81	0.91	0.96	0.11	0.52	-0.38	0.42		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

TD	+ 0.96	UBS
TD	+ 0.91	BBVA
UBS	+ 0.9	BBVA
TD	+ 0.81	CB
UBS	+ 0.74	CB
BBVA	+ 0.67	CB

High negative correlations

IBKR	- 0.56	TRV
IBN	- 0.42	UBS
TD	- 0.38	IBN
IBN	- 0.37	BBVA
IBKR	- 0.27	IBN
IBN	- 0.16	CB

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	0.78	0.26	0.25	(3.77)	0.51	(0.86)	2.08	(1.56)	5.16
BBVA	1.39	0.21	0.08	0.21	2.16	(1.34)	2.92	(2.00)	7.05
UBS	1.21	0.17	0.09	0.23	1.63	(1.25)	2.57	(2.41)	10.86
TRV	0.76	0.13	0.11	1.22	0.75	(0.87)	1.85	(0.97)	6.91
BAC	0.92	0.07	0.02	(1.00)	1.38	(0.88)	1.71	(2.16)	5.64
IBN	0.79	0.01	(0.01)	0.06	1.12	(0.85)	1.76	(1.75)	7.06
IBKR	1.77	(0.07)	(0.01)	0.00	2.58	(1.68)	3.87	(3.97)	11.65
TD	0.76	0.21	0.22	0.44	0.64	(0.93)	1.66	(1.54)	5.15

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