Selective Insurance Correlations

SIGI Stock

USD 83.52 0.15 0.18%

The current 90-days correlation between Selective Insurance and Mercury General is 0.57 (i.e., Very weak diversification). The correlation of Selective 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.

Selective Insurance Correlation With Market

Weak diversification

The correlation between Selective Insurance Group and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Selective Insurance Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Selective Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Selective 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 price.

Moving together with Selective Stock

0.79	CNA	CNA Financial	Pair Corr
0.65	PGR	Progressive Corp	Pair Corr
0.62	MLCI	Mount Logan Capital	Pair Corr
0.64	DFY	Definity Financial Corp	Pair Corr
0.73	FQVLF	First Quantum Minerals	Pair Corr

Moving against Selective Stock

0.65	HNHPF	Hon Hai Precision	Pair Corr
0.41	AMZN	Amazon Inc	Pair Corr
0.79	NMRD	Nemaura Medical	Pair Corr
0.66	LUMN	Lumen Technologies	Pair Corr
0.37	694308HY6	US694308HY69	Pair Corr
0.31	CICOY	COSCO SHIPPING Holdings	Pair Corr

Related Correlations Analysis

	MCY	LMND	WTM	RDN	RLI	AX	SNEX	ALL	AHL	IBOC
MCY		0.78	0.67	0.89	0.75	0.66	-0.14	0.76	0.88	0.33	MCY
LMND	0.78		0.68	0.72	0.39	0.49	-0.43	0.39	0.86	0.35	LMND
WTM	0.67	0.68		0.55	0.32	0.49	-0.11	0.19	0.79	0.34	WTM
RDN	0.89	0.72	0.55		0.72	0.77	0.0	0.64	0.82	0.48	RDN
RLI	0.75	0.39	0.32	0.72		0.68	0.16	0.82	0.51	0.4	RLI
AX	0.66	0.49	0.49	0.77	0.68		0.41	0.44	0.59	0.73	AX
SNEX	-0.14	-0.43	-0.11	0.0	0.16	0.41		-0.11	-0.19	0.4	SNEX
ALL	0.76	0.39	0.19	0.64	0.82	0.44	-0.11		0.46	0.09	ALL
AHL	0.88	0.86	0.79	0.82	0.51	0.59	-0.19	0.46		0.39	AHL
IBOC	0.33	0.35	0.34	0.48	0.4	0.73	0.4	0.09	0.39		IBOC
	MCY	LMND	WTM	RDN	RLI	AX	SNEX	ALL	AHL	IBOC

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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

RDN	+ 0.89	MCY
AHL	+ 0.88	MCY
AHL	+ 0.86	LMND
AHL	+ 0.82	RDN
ALL	+ 0.82	RLI
AHL	+ 0.79	WTM

High negative correlations

SNEX	- 0.43	LMND
AHL	- 0.19	SNEX
SNEX	- 0.14	MCY
ALL	- 0.11	SNEX
SNEX	- 0.11	WTM
SNEX	- 0.0	RDN

Risk-Adjusted Indicators

There is a big difference between Selective Stock performing well and Selective 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 Selective 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
MCY	1.08	0.10	0.05	0.28	1.16	(1.18)	2.89	(2.43)	6.65
LMND	3.82	0.48	0.14	0.19	4.05	(4.39)	8.38	(6.40)	43.33
WTM	1.07	0.27	0.25	0.42	0.68	(1.28)	2.19	(1.63)	12.96
RDN	0.84	(0.03)	(0.06)	(0.01)	1.01	(1.00)	1.84	(1.78)	5.62
RLI	1.08	(0.06)	0.00	(1.69)	0.00	0.00	2.38	(3.01)	6.60
AX	1.40	(0.03)	0.00	0.04	2.19	(1.38)	3.18	(2.62)	12.64
SNEX	1.75	(0.13)	0.00	(0.02)	0.00	0.00	3.98	(3.25)	10.99
ALL	0.95	(0.09)	0.00	(0.25)	0.00	0.00	2.10	(2.08)	6.24
AHL	0.10	0.01	(0.34)	(0.79)	0.00	(0.12)	0.22	(0.19)	0.76
IBOC	1.16	(0.10)	0.00	(0.04)	0.00	0.00	2.64	(2.01)	7.20

Selective Insurance Corporate Management

John Bresney	Executive Officer	Profile
Brad Wilson	Senior Treasurer	Profile
Joseph CFA	Executive Officer	Profile
Brenda Hall	Executive Lines	Profile
Rohit Mull	Chief VP	Profile
Rohan Pai	VP Treasurer	Profile

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