Safety Insurance Correlations

SAFT Stock

USD 79.51 0.54 0.68%

The current 90-days correlation between Safety Insurance and Donegal Group B is 0.16 (i.e., Average diversification). The correlation of Safety Insurance 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.

Safety Insurance Correlation With Market

Significant diversification

The correlation between Safety Insurance Group and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Safety Insurance Group and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Safety Insurance Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Safety Stock

0.66	AFG	American Financial Earnings Call This Week	Pair Corr
0.76	ALL	Allstate Earnings Call This Week	Pair Corr
0.79	BOW	Bowhead Specialty	Pair Corr
0.83	HMN	Horace Mann Educators Earnings Call This Week	Pair Corr
0.77	MCY	Mercury General	Pair Corr
0.89	PRA	ProAssurance	Pair Corr
0.86	RLI	RLI Corp	Pair Corr
0.78	STC	Stewart Information Earnings Call This Week	Pair Corr
0.66	THG	Hanover Insurance	Pair Corr
0.84	UVE	Universal Insurance	Pair Corr
0.67	WRB	W R Berkley	Pair Corr
0.68	WTM	White Mountains Insurance Earnings Call This Week	Pair Corr
0.79	HRTG	Heritage Insurance Hldgs	Pair Corr
0.71	KMPR	Kemper	Pair Corr
0.8	KNSL	Kinsale Capital Group	Pair Corr
0.65	LMND	Lemonade	Pair Corr
0.66	NODK	NI Holdings	Pair Corr
0.8	ACIC	American Coastal Ins	Pair Corr
0.71	SIGI	Selective Insurance	Pair Corr

Moving against Safety Stock

0.48	AB	AllianceBernstein Earnings Call This Week	Pair Corr
0.47	DB	Deutsche Bank AG	Pair Corr

Related Correlations Analysis

	SIGI	KMPR	DGICB	ARGO-PA	GBLI	HMN	RLI	STC	ARGO	NODK
SIGI		0.7	0.37	-0.26	0.05	0.79	0.77	0.73	0.0	0.48	SIGI
KMPR	0.7		0.38	-0.1	0.12	0.78	0.73	0.7	0.0	0.5	KMPR
DGICB	0.37	0.38		0.44	0.55	0.46	0.38	0.21	0.0	0.14	DGICB
ARGO-PA	-0.26	-0.1	0.44		0.66	-0.15	-0.36	-0.48	0.0	-0.43	ARGO-PA
GBLI	0.05	0.12	0.55	0.66		0.16	0.09	0.03	0.0	0.04	GBLI
HMN	0.79	0.78	0.46	-0.15	0.16		0.82	0.83	0.0	0.69	HMN
RLI	0.77	0.73	0.38	-0.36	0.09	0.82		0.86	0.0	0.71	RLI
STC	0.73	0.7	0.21	-0.48	0.03	0.83	0.86		0.0	0.86	STC
ARGO	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	ARGO
NODK	0.48	0.5	0.14	-0.43	0.04	0.69	0.71	0.86	0.0		NODK
	SIGI	KMPR	DGICB	ARGO-PA	GBLI	HMN	RLI	STC	ARGO	NODK

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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

STC	+ 0.86	RLI
NODK	+ 0.86	STC
STC	+ 0.83	HMN
RLI	+ 0.82	HMN
HMN	+ 0.79	SIGI
HMN	+ 0.78	KMPR

High negative correlations

STC	- 0.48	ARGO-PA
NODK	- 0.43	ARGO-PA
RLI	- 0.36	ARGO-PA
ARGO-PA	- 0.26	SIGI
HMN	- 0.15	ARGO-PA
ARGO-PA	- 0.1	KMPR

Risk-Adjusted Indicators

There is a big difference between Safety Stock performing well and Safety Insurance 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 Safety Insurance'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
SIGI	1.29	(0.12)	0.00	(0.64)	0.00	0.00	2.20	(2.02)	19.85
KMPR	1.20	0.07	0.02	0.21	1.61	(1.10)	2.12	(2.94)	7.93
DGICB	2.34	0.14	0.02	0.46	2.65	(3.52)	5.84	(5.44)	15.24
ARGO-PA	0.17	0.03	(0.16)	1.06	0.00	(0.21)	0.40	(0.28)	1.22
GBLI	0.99	0.12	0.02	(0.44)	1.18	(1.19)	2.44	(2.27)	8.42
HMN	1.17	0.03	0.01	0.11	1.53	(1.16)	2.10	(2.92)	11.77
RLI	1.02	(0.07)	0.00	(0.14)	0.00	0.00	1.82	(2.00)	12.73
STC	1.34	(0.12)	0.00	(0.11)	0.00	0.00	2.68	(2.97)	8.85
ARGO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NODK	1.18	(0.09)	0.00	(0.08)	0.00	0.00	2.15	(2.23)	7.59

Safety Insurance Corporate Management

Brian Lam	Vice Operations	Profile
James CPCU	Vice Underwriting	Profile
Glenn Hiltpold	Vice Services	Profile
Mary McConnell	Vice Underwriting	Profile
Christopher Whitford	CFO VP	Profile

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