ProAssurance Correlations

Stocks . USA . 
Stock . ProAssurance
PRA Stock  USD 14.96  0.05  0.33%   
The current 90-days correlation between ProAssurance and Horace Mann Educators is 0.7 (i.e., Poor 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

Weak diversification

The correlation between ProAssurance and DJI is 0.33 (i.e., Weak 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.
  
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 metropolitan statistical area.
For information on how to trade ProAssurance Stock refer to our How to Trade ProAssurance Stock guide.

Moving together with ProAssurance Stock

  0.68AFG American Financial Earnings Call This WeekPairCorr
  0.74ALL Allstate Earnings Call This WeekPairCorr
  0.75BOW Bowhead SpecialtyPairCorr
  0.94HMN Horace Mann Educators Earnings Call This WeekPairCorr
  0.8MCY Mercury GeneralPairCorr
  0.68PGR Progressive CorpPairCorr
  0.88RLI RLI CorpPairCorr
  0.87STC Stewart Information Earnings Call This WeekPairCorr
  0.7THG Hanover InsurancePairCorr
  0.67TRV The Travelers CompaniesPairCorr
  0.92UVE Universal InsurancePairCorr
  0.72WRB W R BerkleyPairCorr
  0.68WTM White Mountains Insurance Earnings Call This WeekPairCorr
  0.73HGTY HagertyPairCorr
  0.79HRTG Heritage Insurance HldgsPairCorr
  0.76KMPR KemperPairCorr
  0.84KNSL Kinsale Capital GroupPairCorr
  0.74NODK NI HoldingsPairCorr
  0.77ACIC American Coastal InsPairCorr
  0.95SAFT Safety InsurancePairCorr
  0.83SIGI Selective InsurancePairCorr

Moving against ProAssurance Stock

  0.43AB AllianceBernstein Earnings Call This WeekPairCorr
  0.43DB Deutsche Bank AGPairCorr

Related Correlations Analysis

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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   
RLI
+ 0.82
HMN
SIGI
+ 0.81
HMN
RLI
+ 0.76
SIGI
RLI
+ 0.75
KMPR
KMPR
+ 0.73
HMN
SIGI
+ 0.71
KMPR
  
High negative correlations   
RLI
- 0.3
ARGO-PA
SIGI
- 0.19
ARGO-PA
HMN
- 0.09
ARGO-PA
KMPR
- 0.04
ARGO-PA

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.

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