Renaissancere Holdings Correlations

RNR Stock

USD 264.64 0.34 0.13%

The current 90-days correlation between Renaissancere Holdings and Reinsurance Group of is 0.59 (i.e., Very weak diversification). The correlation of Renaissancere Holdings 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.

Renaissancere Holdings Correlation With Market

Weak diversification

The correlation between Renaissancere Holdings and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Renaissancere Holdings 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 Renaissancere Holdings. 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.

To learn how to invest in Renaissancere Stock, please use our How to Invest in Renaissancere Holdings guide.

Moving together with Renaissancere Stock

0.67	AHL-PC	Aspen Insurance Holdings	Pair Corr
0.66	AC	Associated Capital	Pair Corr
0.61	CB	Chubb	Pair Corr
0.79	DB	Deutsche Bank AG	Pair Corr
0.66	GL	Globe Life	Pair Corr
0.62	LX	Lexinfintech Holdings	Pair Corr

Moving against Renaissancere Stock

0.56	SPNT	Siriuspoint Normal Trading	Pair Corr
0.54	IX	Orix Corp Ads	Pair Corr
0.37	PT	Pintec Technology	Pair Corr

Related Correlations Analysis

	RGA	GLRE	SPNT	SCRYY	BNRE	RE	MHLD	SPNT-PB	RNR-PF	RNR-PG
RGA		0.8	0.35	0.32	0.65	0.0	0.16	0.52	0.04	-0.29	RGA
GLRE	0.8		0.23	0.28	0.43	0.0	0.29	0.54	0.1	-0.17	GLRE
SPNT	0.35	0.23		0.24	0.21	0.0	0.17	-0.2	0.24	-0.25	SPNT
SCRYY	0.32	0.28	0.24		0.25	0.0	0.18	0.43	-0.3	-0.37	SCRYY
BNRE	0.65	0.43	0.21	0.25		0.0	0.09	0.43	-0.1	-0.42	BNRE
RE	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	RE
MHLD	0.16	0.29	0.17	0.18	0.09	0.0		-0.07	-0.15	-0.03	MHLD
SPNT-PB	0.52	0.54	-0.2	0.43	0.43	0.0	-0.07		-0.47	-0.4	SPNT-PB
RNR-PF	0.04	0.1	0.24	-0.3	-0.1	0.0	-0.15	-0.47		0.7	RNR-PF
RNR-PG	-0.29	-0.17	-0.25	-0.37	-0.42	0.0	-0.03	-0.4	0.7		RNR-PG
	RGA	GLRE	SPNT	SCRYY	BNRE	RE	MHLD	SPNT-PB	RNR-PF	RNR-PG

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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

GLRE	+ 0.8	RGA
RNR-PG	+ 0.7	RNR-PF
BNRE	+ 0.65	RGA
SPNT-PB	+ 0.54	GLRE
SPNT-PB	+ 0.52	RGA
BNRE	+ 0.43	GLRE

High negative correlations

RNR-PF	- 0.47	SPNT-PB
RNR-PG	- 0.42	BNRE
RNR-PG	- 0.4	SPNT-PB
RNR-PG	- 0.37	SCRYY
RNR-PF	- 0.3	SCRYY
RNR-PG	- 0.29	RGA

Risk-Adjusted Indicators

There is a big difference between Renaissancere Stock performing well and Renaissancere Holdings 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 Renaissancere Holdings' 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
RGA	1.08	0.01	0.03	0.11	1.26	(1.18)	2.26	(1.93)	10.03
GLRE	1.10	0.02	0.05	0.11	1.29	(1.21)	3.28	(2.51)	12.12
SPNT	1.32	0.13	0.00	(0.23)	1.69	(1.46)	2.19	(2.74)	13.03
SCRYY	2.11	0.32	0.10	1.36	2.05	(2.91)	5.61	(4.09)	12.99
BNRE	1.18	(0.49)	0.00	10.00	0.00	0.00	1.69	(5.07)	6.76
RE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MHLD	2.96	(0.47)	0.00	(0.04)	0.00	0.00	7.06	(5.18)	21.08
SPNT-PB	0.20	0.03	(0.34)	(0.37)	0.10	(0.24)	0.44	(0.36)	1.27
RNR-PF	0.35	(0.01)	(0.19)	0.03	0.49	(0.33)	0.62	(0.86)	1.88
RNR-PG	0.47	(0.02)	0.00	5.58	0.00	0.00	0.75	(1.01)	3.37

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