Hanover Insurance Correlations

THG Stock

USD 173.19 3.57 2.02%

The current 90-days correlation between Hanover Insurance and Kemper is 0.34 (i.e., Weak diversification). The correlation of Hanover 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.

Hanover Insurance Correlation With Market

Average diversification

The correlation between The Hanover Insurance and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hanover Insurance and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hanover Stock

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

Moving together with Hanover Stock

0.77	CB	Chubb	Pair Corr
0.77	FIHL	Fidelis Insurance	Pair Corr
0.72	ACT	Enact Holdings	Pair Corr
0.81	AGO	Assured Guaranty	Pair Corr
0.76	AIZ	Assurant	Pair Corr
0.81	ALL	Allstate	Pair Corr
0.83	AXS	AXIS Capital Holdings	Pair Corr
0.78	CNA	CNA Financial	Pair Corr
0.88	MCY	Mercury General	Pair Corr
0.79	MKL	Markel	Pair Corr
0.83	ORI	Old Republic Interna	Pair Corr
0.85	RLI	RLI Corp	Pair Corr
0.92	TRV	The Travelers Companies	Pair Corr
0.67	UVE	Universal Insurance	Pair Corr
0.64	WTM	White Mountains Insurance	Pair Corr
0.8	HGTY	Hagerty	Pair Corr
0.81	HRTG	Heritage Insurance Hldgs	Pair Corr
0.79	IGIC	International General	Pair Corr
0.83	IFC	Intact Financial	Pair Corr
0.76	DFY	Definity Financial Corp	Pair Corr
0.81	SAFT	Safety Insurance	Pair Corr
0.75	SKWD	Skyward Specialty	Pair Corr
0.66	TIPT	Tiptree	Pair Corr
0.93	CINF	Cincinnati Financial	Pair Corr
0.85	DGICA	Donegal Group A	Pair Corr
0.79	UFCS	United Fire Group	Pair Corr

Moving against Hanover Stock

0.55	SBRE	Sabre Insurance Group	Pair Corr
0.38	NDEKY	Nitto Denko Corp	Pair Corr
0.35	KNSL	Kinsale Capital Group	Pair Corr

Related Correlations Analysis

	HMN	KMPR	RLI	GBLI	NODK	DGICA	DGICB	WTM	CB
HMN		-0.47	0.66	-0.33	0.52	0.72	0.29	0.55	0.75	HMN
KMPR	-0.47		-0.22	0.56	-0.05	-0.52	-0.51	-0.36	-0.58	KMPR
RLI	0.66	-0.22		-0.34	0.5	0.73	0.01	0.48	0.66	RLI
GBLI	-0.33	0.56	-0.34		-0.35	-0.53	-0.12	-0.33	-0.41	GBLI
NODK	0.52	-0.05	0.5	-0.35		0.6	0.04	0.37	0.4	NODK
DGICA	0.72	-0.52	0.73	-0.53	0.6		0.31	0.73	0.81	DGICA
DGICB	0.29	-0.51	0.01	-0.12	0.04	0.31		0.63	0.59	DGICB
WTM	0.55	-0.36	0.48	-0.33	0.37	0.73	0.63		0.85	WTM
CB	0.75	-0.58	0.66	-0.41	0.4	0.81	0.59	0.85		CB
	HMN	KMPR	RLI	GBLI	NODK	DGICA	DGICB	WTM	CB

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

CB	+ 0.85	WTM
CB	+ 0.81	DGICA
CB	+ 0.75	HMN
DGICA	+ 0.73	RLI
WTM	+ 0.73	DGICA
DGICA	+ 0.72	HMN

High negative correlations

CB	- 0.58	KMPR
DGICA	- 0.53	GBLI
DGICA	- 0.52	KMPR
DGICB	- 0.51	KMPR
KMPR	- 0.47	HMN
CB	- 0.41	GBLI

Risk-Adjusted Indicators

There is a big difference between Hanover Stock performing well and Hanover 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 Hanover 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
HMN	0.97	(0.02)	(0.05)	0.04	1.32	(0.97)	2.23	(2.17)	6.47
KMPR	1.58	(0.36)	0.00	(0.41)	0.00	0.00	3.57	(3.07)	19.01
RLI	1.10	(0.11)	0.00	(11.61)	0.00	0.00	2.38	(2.87)	6.59
GBLI	1.03	(0.06)	0.00	(0.23)	0.00	0.00	2.91	(1.88)	5.97
NODK	1.06	0.04	(0.04)	(0.19)	1.36	(1.20)	2.58	(2.08)	9.09
DGICA	1.02	0.00	(0.05)	0.10	1.21	(1.05)	2.03	(2.00)	5.91
DGICB	3.18	0.49	0.09	(0.60)	3.51	(3.60)	6.93	(6.47)	20.95
WTM	0.86	0.06	0.02	0.20	0.87	(0.94)	1.88	(1.63)	8.03
CB	0.85	0.08	0.01	0.79	1.02	(0.89)	2.32	(1.98)	5.06

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC