Selective Insurance Group Preferred Stock Market Value
| SIGIP Preferred Stock | USD 19.25 0.35 1.85% |
| Symbol | Selective |
Selective Insurance 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Selective Insurance's preferred stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Selective Insurance.
| 05/30/2024 |
| 11/26/2024 |
If you would invest 0.00 in Selective Insurance on May 30, 2024 and sell it all today you would earn a total of 0.00 from holding Selective Insurance Group or generate 0.0% return on investment in Selective Insurance over 180 days. Selective Insurance is related to or competes with Aspen Insurance, Aspen Insurance, AmTrust Financial, Argo Group, and AmTrust Financial. Selective Insurance Group, Inc., together with its subsidiaries, provides insurance products and services in the United ... More
Selective Insurance Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Selective Insurance's preferred stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Selective Insurance Group upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7909 | |||
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 3.35 | |||
| Value At Risk | (1.29) | |||
| Potential Upside | 1.44 |
Selective Insurance Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Selective Insurance's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Selective Insurance's standard deviation. In reality, there are many statistical measures that can use Selective Insurance historical prices to predict the future Selective Insurance's volatility.| Risk Adjusted Performance | 0.026 | |||
| Jensen Alpha | 0.0054 | |||
| Total Risk Alpha | (0.11) | |||
| Sortino Ratio | (0.13) | |||
| Treynor Ratio | 0.173 |
Selective Insurance Backtested Returns
Currently, Selective Insurance Group is very steady. Selective Insurance owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0378, which indicates the firm had a 0.0378% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Selective Insurance Group, which you can use to evaluate the volatility of the company. Please validate Selective Insurance's Risk Adjusted Performance of 0.026, coefficient of variation of 3008.77, and Semi Deviation of 0.7281 to confirm if the risk estimate we provide is consistent with the expected return of 0.0312%. Selective Insurance has a performance score of 2 on a scale of 0 to 100. The entity has a beta of 0.0987, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Selective Insurance's returns are expected to increase less than the market. However, during the bear market, the loss of holding Selective Insurance is expected to be smaller as well. Selective Insurance right now has a risk of 0.83%. Please validate Selective Insurance expected short fall, and the relationship between the maximum drawdown and rate of daily change , to decide if Selective Insurance will be following its existing price patterns.
Auto-correlation | -0.27 |
Weak reverse predictability
Selective Insurance Group has weak reverse predictability. Overlapping area represents the amount of predictability between Selective Insurance time series from 30th of May 2024 to 28th of August 2024 and 28th of August 2024 to 26th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Selective Insurance price movement. The serial correlation of -0.27 indicates that nearly 27.0% of current Selective Insurance price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.27 | |
| Spearman Rank Test | -0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 0.24 |
Selective Insurance lagged returns against current returns
Autocorrelation, which is Selective Insurance preferred stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Selective Insurance's preferred stock expected returns. We can calculate the autocorrelation of Selective Insurance returns to help us make a trade decision. For example, suppose you find that Selective Insurance has exhibited high autocorrelation historically, and you observe that the preferred stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Selective Insurance regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Selective Insurance preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Selective Insurance preferred stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Selective Insurance preferred stock over time.
Current vs Lagged Prices |
| Timeline |
Selective Insurance Lagged Returns
When evaluating Selective Insurance's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Selective Insurance preferred stock have on its future price. Selective Insurance autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Selective Insurance autocorrelation shows the relationship between Selective Insurance preferred stock current value and its past values and can show if there is a momentum factor associated with investing in Selective Insurance Group.
Regressed Prices |
| Timeline |
Pair Trading with Selective Insurance
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Selective Insurance position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Selective Insurance will appreciate offsetting losses from the drop in the long position's value.Moving against Selective Preferred Stock
| 0.51 | BOW | Bowhead Specialty | PairCorr |
| 0.5 | CNA | CNA Financial | PairCorr |
| 0.42 | L | Loews Corp | PairCorr |
| 0.39 | FACO | First Acceptance Corp | PairCorr |
| 0.36 | UVE | Universal Insurance | PairCorr |
The ability to find closely correlated positions to Selective Insurance could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Selective Insurance 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 Selective Insurance - 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 Selective Insurance Group to buy it.
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Selective Insurance moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Selective Insurance moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Selective Insurance can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for Selective Preferred Stock Analysis
When running Selective Insurance's price analysis, check to measure Selective Insurance's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Selective Insurance is operating at the current time. Most of Selective Insurance's value examination focuses on studying past and present price action to predict the probability of Selective Insurance's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Selective Insurance's price. Additionally, you may evaluate how the addition of Selective Insurance to your portfolios can decrease your overall portfolio volatility.