RLI Corp Correlations

RLI Stock

USD 60.77 0.85 1.38%

The current 90-days correlation between RLI Corp and The Hanover Insurance is 0.41 (i.e., Very weak diversification). The correlation of RLI 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.

RLI Corp Correlation With Market

Very good diversification

The correlation between RLI Corp and DJI is -0.5 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RLI Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with RLI Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in RLI 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 board of governors.

For more detail on how to invest in RLI Stock please use our How to Invest in RLI Corp guide.

Moving together with RLI Stock

0.67	DHU	Assured Guaranty	Pair Corr
0.63	PGV	Progressive	Pair Corr
0.83	AGO	Assured Guaranty	Pair Corr
0.67	ALL	Allstate	Pair Corr
0.83	BOW	Bowhead Specialty	Pair Corr
0.73	HCI	HCI Group	Pair Corr
0.63	MCY	Mercury General	Pair Corr
0.61	MKL	Markel	Pair Corr
0.64	ORI	Old Republic Interna Sell-off Trend	Pair Corr
0.72	FGPN	Ambac Financial Group Earnings Call This Week	Pair Corr
0.66	STC	Stewart Information	Pair Corr
0.84	THG	Hanover Insurance	Pair Corr

Moving against RLI Stock

0.54	2D7	Beazley PLC	Pair Corr
0.44	EIG	Employers Holdings Earnings Call Tomorrow	Pair Corr
0.41	JR0	Just Group plc	Pair Corr
0.36	ANK	Sompo Holdings	Pair Corr
0.34	TSU	Trisura Group	Pair Corr
0.63	GBLI	Global Indemnity	Pair Corr
0.5	HSX	Hiscox Earnings Call This Week	Pair Corr

Related Correlations Analysis

	THG	ALL	WTM	SIGI	MCY	AXS	HOMB	ACT	JSM	VLY
THG		0.71	-0.28	-0.2	0.47	0.39	-0.37	-0.15	-0.2	-0.43	THG
ALL	0.71		-0.15	-0.02	0.47	0.19	-0.25	0.12	-0.38	-0.24	ALL
WTM	-0.28	-0.15		0.78	0.57	0.41	0.84	0.82	0.65	0.87	WTM
SIGI	-0.2	-0.02	0.78		0.52	0.65	0.77	0.91	0.57	0.89	SIGI
MCY	0.47	0.47	0.57	0.52		0.51	0.39	0.58	0.28	0.35	MCY
AXS	0.39	0.19	0.41	0.65	0.51		0.29	0.52	0.58	0.41	AXS
HOMB	-0.37	-0.25	0.84	0.77	0.39	0.29		0.83	0.43	0.94	HOMB
ACT	-0.15	0.12	0.82	0.91	0.58	0.52	0.83		0.44	0.9	ACT
JSM	-0.2	-0.38	0.65	0.57	0.28	0.58	0.43	0.44		0.53	JSM
VLY	-0.43	-0.24	0.87	0.89	0.35	0.41	0.94	0.9	0.53		VLY
	THG	ALL	WTM	SIGI	MCY	AXS	HOMB	ACT	JSM	VLY

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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

VLY	+ 0.94	HOMB
ACT	+ 0.91	SIGI
VLY	+ 0.9	ACT
VLY	+ 0.89	SIGI
VLY	+ 0.87	WTM
HOMB	+ 0.84	WTM

High negative correlations

VLY	- 0.43	THG
JSM	- 0.38	ALL
HOMB	- 0.37	THG
WTM	- 0.28	THG
HOMB	- 0.25	ALL
VLY	- 0.24	ALL

Risk-Adjusted Indicators

There is a big difference between RLI Stock performing well and RLI 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 RLI 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
THG	0.89	(0.05)	0.00	(0.74)	0.00	0.00	1.71	(2.03)	5.99
ALL	1.09	0.04	0.00	1.44	1.73	(1.00)	2.32	(2.37)	8.07
WTM	0.84	0.20	0.17	0.46	0.81	(0.96)	1.95	(1.26)	10.24
SIGI	1.03	0.13	0.10	0.35	0.93	(1.12)	2.56	(1.58)	5.53
MCY	1.06	0.15	0.09	2.01	1.10	(1.10)	2.18	(1.94)	5.74
AXS	0.96	0.06	0.01	1.00	1.35	(0.90)	2.01	(2.29)	6.52
HOMB	1.00	0.08	0.06	0.14	1.10	(1.13)	2.24	(1.53)	6.96
ACT	1.15	0.20	0.13	0.41	1.13	(1.37)	2.19	(2.20)	11.58
JSM	0.45	0.03	0.00	0.28	0.55	(0.50)	0.93	(0.98)	3.25
VLY	1.17	0.26	0.17	0.33	1.17	(1.30)	3.26	(2.20)	8.87

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