W R Correlations

WRB-PE Preferred Stock

USD 23.18 0.05 0.22%

The current 90-days correlation between W R Berkley and Aspen Insurance Holdings is 0.11 (i.e., Average diversification). The correlation of W R 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.

W R Correlation With Market

Weak diversification

The correlation between W R Berkley and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding W R Berkley and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to W R could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace W R when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back W R - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling W R Berkley to buy it.

Moving together with WRB-PE Preferred Stock

0.62	CB	Chubb	Pair Corr
0.66	ALL	Allstate Earnings Call This Week	Pair Corr
0.89	HMN	Horace Mann Educators Earnings Call This Week	Pair Corr
0.89	MCY	Mercury General	Pair Corr
0.88	PRA	ProAssurance	Pair Corr
0.8	RLI	RLI Corp	Pair Corr
0.92	STC	Stewart Information Earnings Call This Week	Pair Corr
0.68	TRV	The Travelers Companies	Pair Corr
0.86	UVE	Universal Insurance	Pair Corr
0.89	HGTY	Hagerty	Pair Corr
0.64	HRTG	Heritage Insurance Hldgs	Pair Corr
0.77	KNSL	Kinsale Capital Group	Pair Corr
0.88	SIGIP	Selective Insurance	Pair Corr
0.81	NODK	NI Holdings	Pair Corr
0.65	ALL-PB	Allstate Earnings Call This Week	Pair Corr

Moving against WRB-PE Preferred Stock

0.38	HCI	HCI Group	Pair Corr
0.35	FRFHF	Fairfax Financial	Pair Corr

Related Correlations Analysis

	AHL-PE	AHL-PC	ARGO-PA	AFSIB	AFSIA	HMN	KMPR	RLI	GBLI
AHL-PE		0.37	-0.57	0.4	0.02	0.7	0.49	0.44	-0.29	AHL-PE
AHL-PC	0.37		-0.06	0.0	0.14	0.51	0.4	0.39	0.24	AHL-PC
ARGO-PA	-0.57	-0.06		-0.58	-0.32	-0.69	-0.56	-0.78	0.47	ARGO-PA
AFSIB	0.4	0.0	-0.58		0.2	0.33	0.45	0.33	-0.36	AFSIB
AFSIA	0.02	0.14	-0.32	0.2		0.29	0.16	0.48	0.14	AFSIA
HMN	0.7	0.51	-0.69	0.33	0.29		0.72	0.8	-0.1	HMN
KMPR	0.49	0.4	-0.56	0.45	0.16	0.72		0.68	-0.11	KMPR
RLI	0.44	0.39	-0.78	0.33	0.48	0.8	0.68		-0.09	RLI
GBLI	-0.29	0.24	0.47	-0.36	0.14	-0.1	-0.11	-0.09		GBLI
	AHL-PE	AHL-PC	ARGO-PA	AFSIB	AFSIA	HMN	KMPR	RLI	GBLI

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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

RLI	+ 0.8	HMN
KMPR	+ 0.72	HMN
HMN	+ 0.7	AHL-PE
RLI	+ 0.68	KMPR
HMN	+ 0.51	AHL-PC
KMPR	+ 0.49	AHL-PE

High negative correlations

RLI	- 0.78	ARGO-PA
HMN	- 0.69	ARGO-PA
AFSIB	- 0.58	ARGO-PA
ARGO-PA	- 0.57	AHL-PE
KMPR	- 0.56	ARGO-PA
GBLI	- 0.36	AFSIB

Risk-Adjusted Indicators

There is a big difference between WRB-PE Preferred Stock performing well and W R 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 W R'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
AHL-PE	1.05	(0.14)	0.00	(0.21)	0.00	0.00	2.77	(1.85)	5.67
AHL-PC	0.24	(0.11)	0.00	(0.72)	0.00	0.00	0.23	(0.89)	2.49
ARGO-PA	0.16	0.02	(0.21)	1.28	0.00	(0.20)	0.24	(0.28)	1.05
AFSIB	0.95	0.01	(0.03)	0.14	1.33	(1.21)	2.87	(2.44)	7.59
AFSIA	0.98	0.02	(0.03)	(0.05)	1.46	(1.66)	2.77	(2.89)	9.50
HMN	1.21	0.01	0.00	0.08	1.57	(1.24)	2.10	(2.92)	11.77
KMPR	1.17	0.08	0.03	0.18	1.52	(1.12)	2.12	(2.64)	7.93
RLI	1.05	(0.13)	0.00	(0.11)	0.00	0.00	1.82	(2.00)	12.73
GBLI	1.06	0.07	0.02	0.18	1.24	(1.26)	2.44	(2.27)	8.42

Be your own money manager

Our tools can tell you how much better you can do entering a position in W R without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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