ProAssurance Correlations

PRA Stock

USD 24.45 0.07 0.29%

The current 90-days correlation between ProAssurance and Maiden Holdings is -0.05 (i.e., Good diversification). The correlation of ProAssurance 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.

ProAssurance Correlation With Market

Poor diversification

The correlation between ProAssurance and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProAssurance and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with ProAssurance Stock

0.8	CB	Chubb Sell-off Trend	Pair Corr
0.77	2D7	Beazley PLC	Pair Corr
0.7	ANK	Sompo Holdings	Pair Corr
0.73	ACT	Enact Holdings	Pair Corr
0.79	CNA	CNA Financial	Pair Corr
0.61	EIG	Employers Holdings	Pair Corr
0.8	LRE	Lancashire Holdings	Pair Corr

Moving against ProAssurance Stock

0.66	PGV	Progressive	Pair Corr
0.63	AII	American Integrity Earnings Call This Week	Pair Corr
0.52	HCI	HCI Group	Pair Corr
0.5	BOW	Bowhead Specialty	Pair Corr
0.47	DHU	Assured Guaranty Earnings Call This Week	Pair Corr
0.42	WR1	W R Berkley	Pair Corr
0.4	ERIE	Erie Indemnity Earnings Call This Week	Pair Corr
0.39	SU4	Suncorp Group Limited	Pair Corr
0.36	AGO	Assured Guaranty Earnings Call This Week	Pair Corr
0.32	3GU	nib holdings limited Earnings Call This Week	Pair Corr
0.74	MBI	MBIA Inc Earnings Call This Week	Pair Corr
0.71	FGPN	Ambac Financial Group Earnings Call This Week	Pair Corr
0.69	GOCO	GoHealth	Pair Corr
0.64	ADM	Admiral Group PLC	Pair Corr
0.59	PIR	Peoples Insurance	Pair Corr
0.54	PGR	Progressive Corp	Pair Corr
0.48	STC	Stewart Information	Pair Corr
0.41	THG	Hanover Insurance	Pair Corr

Related Correlations Analysis

	MHLA	ROOT	SAFT	SIGI	OCSL	HIVE	CNOB	BFC	DCOM	BY
MHLA		0.4	-0.55	-0.69	0.51	0.45	-0.84	-0.48	-0.68	-0.72	MHLA
ROOT	0.4		-0.5	-0.71	0.89	0.74	-0.51	-0.72	-0.79	-0.75	ROOT
SAFT	-0.55	-0.5		0.81	-0.59	-0.79	0.61	0.68	0.72	0.69	SAFT
SIGI	-0.69	-0.71	0.81		-0.79	-0.77	0.68	0.67	0.8	0.8	SIGI
OCSL	0.51	0.89	-0.59	-0.79		0.77	-0.51	-0.66	-0.76	-0.75	OCSL
HIVE	0.45	0.74	-0.79	-0.77	0.77		-0.55	-0.72	-0.76	-0.72	HIVE
CNOB	-0.84	-0.51	0.61	0.68	-0.51	-0.55		0.74	0.86	0.86	CNOB
BFC	-0.48	-0.72	0.68	0.67	-0.66	-0.72	0.74		0.94	0.92	BFC
DCOM	-0.68	-0.79	0.72	0.8	-0.76	-0.76	0.86	0.94		0.98	DCOM
BY	-0.72	-0.75	0.69	0.8	-0.75	-0.72	0.86	0.92	0.98		BY
	MHLA	ROOT	SAFT	SIGI	OCSL	HIVE	CNOB	BFC	DCOM	BY

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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

BY	+ 0.98	DCOM
DCOM	+ 0.94	BFC
BY	+ 0.92	BFC
OCSL	+ 0.89	ROOT
DCOM	+ 0.86	CNOB
BY	+ 0.86	CNOB

High negative correlations

CNOB	- 0.84	MHLA
OCSL	- 0.79	SIGI
HIVE	- 0.79	SAFT
DCOM	- 0.79	ROOT
HIVE	- 0.77	SIGI
DCOM	- 0.76	HIVE

Risk-Adjusted Indicators

There is a big difference between ProAssurance Stock performing well and ProAssurance 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 ProAssurance'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
MHLA	0.74	(0.17)	0.00	1.73	0.00	0.00	1.54	(2.12)	6.14
ROOT	2.46	(0.51)	0.00	(0.18)	0.00	0.00	5.15	(5.77)	16.14
SAFT	0.97	0.04	(0.01)	0.81	1.25	(0.94)	1.95	(2.04)	5.04
SIGI	1.05	0.09	0.05	0.24	0.98	(1.17)	2.56	(1.58)	5.53
OCSL	0.88	(0.15)	0.00	1.53	0.00	0.00	2.11	(2.04)	6.56
HIVE	4.15	(0.78)	0.00	(0.28)	0.00	0.00	8.92	(9.56)	23.30
CNOB	1.28	0.20	0.12	0.65	1.17	(1.50)	3.60	(2.14)	10.00
BFC	1.29	0.15	0.12	0.19	1.11	(1.54)	3.40	(1.90)	7.54
DCOM	1.36	0.31	0.20	0.27	1.23	(1.60)	3.94	(2.56)	11.73
BY	1.16	0.24	0.18	0.34	0.98	(1.36)	2.72	(1.88)	7.39

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