ProAssurance Correlations

PRA Stock

USD 24.00 0.06 0.25%

The current 90-days correlation between ProAssurance and Horace Mann Educators is 0.23 (i.e., Modest diversification). The correlation of ProAssurance 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.

ProAssurance Correlation With Market

Good diversification

The correlation between ProAssurance and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProAssurance and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProAssurance Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProAssurance. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

For information on how to trade ProAssurance Stock refer to our How to Trade ProAssurance Stock guide.

Moving together with ProAssurance Stock

0.74	L	Loews Corp	Pair Corr
0.7	AFG	American Financial	Pair Corr
0.77	MCY	Mercury General	Pair Corr
0.67	HGTY	Hagerty	Pair Corr
0.69	SIGIP	Selective Insurance	Pair Corr
0.83	ALL-PI	Allstate	Pair Corr
0.87	ALL-PH	Allstate	Pair Corr
0.88	ALL-PJ	Allstate	Pair Corr

Moving against ProAssurance Stock

0.89	BOW	Bowhead Specialty	Pair Corr
0.74	RLI	RLI Corp	Pair Corr
0.67	CB	Chubb	Pair Corr
0.62	PGR	Progressive Corp	Pair Corr
0.33	HCI	HCI Group	Pair Corr
0.84	UVE	Universal Insurance	Pair Corr
0.7	KMPR	Kemper	Pair Corr
0.68	WRB	W R Berkley	Pair Corr
0.66	GBLI	Global Indemnity PLC	Pair Corr
0.66	HRTG	Heritage Insurance Hldgs	Pair Corr
0.34	KNSL	Kinsale Capital Group	Pair Corr
0.83	PLMR	Palomar Holdings	Pair Corr
0.81	SAFT	Safety Insurance	Pair Corr
0.8	SKWD	Skyward Specialty	Pair Corr
0.8	DGICA	Donegal Group A	Pair Corr
0.73	ROOT	Root Inc	Pair Corr
0.59	TRUP	Trupanion	Pair Corr

Related Correlations Analysis

	ARGO-PA	HMN	KMPR	SIGI	DGICB	GBLI	RLI
ARGO-PA		0.21	-0.75	-0.68	-0.07	-0.49	-0.92	ARGO-PA
HMN	0.21		-0.55	-0.41	-0.55	-0.48	-0.08	HMN
KMPR	-0.75	-0.55		0.75	0.45	0.75	0.69	KMPR
SIGI	-0.68	-0.41	0.75		0.45	0.53	0.78	SIGI
DGICB	-0.07	-0.55	0.45	0.45		0.48	0.11	DGICB
GBLI	-0.49	-0.48	0.75	0.53	0.48		0.41	GBLI
RLI	-0.92	-0.08	0.69	0.78	0.11	0.41		RLI
	ARGO-PA	HMN	KMPR	SIGI	DGICB	GBLI	RLI

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	+ 0.78	SIGI
SIGI	+ 0.75	KMPR
GBLI	+ 0.75	KMPR
RLI	+ 0.69	KMPR
GBLI	+ 0.53	SIGI
GBLI	+ 0.48	DGICB

High negative correlations

RLI	- 0.92	ARGO-PA
KMPR	- 0.75	ARGO-PA
SIGI	- 0.68	ARGO-PA
DGICB	- 0.55	HMN
KMPR	- 0.55	HMN
GBLI	- 0.49	ARGO-PA

Risk-Adjusted Indicators

There is a big difference between ProAssurance Stock performing well and ProAssurance 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 ProAssurance'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
ARGO-PA	0.06	0.03	(0.69)	(2.07)	0.00	(0.09)	0.16	(0.12)	0.40
HMN	0.98	0.12	(0.01)	(0.22)	1.26	(0.98)	2.34	(1.98)	5.64
KMPR	1.58	(0.19)	0.00	0.79	0.00	0.00	2.63	(2.80)	23.95
SIGI	1.41	(0.03)	0.00	0.12	0.00	0.00	2.62	(2.10)	19.77
DGICB	3.50	(0.17)	0.00	(0.51)	0.00	0.00	6.87	(7.19)	17.74
GBLI	1.62	0.06	(0.03)	(0.01)	2.15	(2.45)	4.35	(4.24)	13.66
RLI	0.85	(0.12)	0.00	0.37	0.00	0.00	1.68	(2.00)	4.63

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