RLI Corp Correlations

RLI Stock

USD 67.73 0.30 0.44%

The current 90-days correlation between RLI Corp and Selective Insurance Group is 0.54 (i.e., Very weak diversification). The correlation of RLI Corp 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.

RLI Corp Correlation With Market

Very good diversification

The correlation between RLI Corp and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RLI Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with RLI Stock

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

For more detail on how to invest in RLI Stock please use our How to Invest in RLI Corp guide.

Moving together with RLI Stock

0.79	CB	Chubb	Pair Corr
0.88	BOW	Bowhead Specialty	Pair Corr
0.9	PGR	Progressive Corp	Pair Corr
0.89	UVE	Universal Insurance	Pair Corr
0.77	HRTG	Heritage Insurance Hldgs	Pair Corr
0.71	KMPR	Kemper	Pair Corr
0.63	KNSL	Kinsale Capital Group	Pair Corr
0.94	PLMR	Palomar Holdings	Pair Corr
0.78	ROOT	Root Inc	Pair Corr
0.87	SAFT	Safety Insurance	Pair Corr

Moving against RLI Stock

0.77	PRA	ProAssurance	Pair Corr
0.75	MCY	Mercury General	Pair Corr
0.61	L	Loews Corp	Pair Corr
0.61	AII	American Integrity	Pair Corr
0.58	STC	Stewart Information	Pair Corr
0.51	AFG	American Financial	Pair Corr
0.84	ALL-PH	Allstate	Pair Corr
0.78	ALL-PI	Allstate	Pair Corr
0.68	ALL-PB	Allstate	Pair Corr
0.67	SIGIP	Selective Insurance	Pair Corr
0.66	HGTY	Hagerty	Pair Corr
0.45	LMND	Lemonade	Pair Corr
0.9	ARGO-PA	Argo Group International	Pair Corr
0.85	ALL-PJ	Allstate	Pair Corr
0.75	WRB-PE	W R Berkley	Pair Corr
0.74	WRB-PG	WR Berkley	Pair Corr
0.69	WRB-PH	WR Berkley	Pair Corr
0.5	WRB-PF	WR Berkley	Pair Corr

Related Correlations Analysis

	SIGI	HMN	KMPR	PRA	CNA	RNR	CTBI	SCL	ERIE
SIGI		-0.53	0.76	-0.53	-0.48	-0.21	-0.32	0.68	-0.43	SIGI
HMN	-0.53		-0.66	0.19	0.95	0.42	0.29	-0.69	0.34	HMN
KMPR	0.76	-0.66		-0.69	-0.64	-0.02	-0.47	0.69	-0.39	KMPR
PRA	-0.53	0.19	-0.69		0.17	-0.28	0.71	-0.29	0.23	PRA
CNA	-0.48	0.95	-0.64	0.17		0.46	0.26	-0.67	0.32	CNA
RNR	-0.21	0.42	-0.02	-0.28	0.46		-0.26	-0.32	0.29	RNR
CTBI	-0.32	0.29	-0.47	0.71	0.26	-0.26		-0.13	0.01	CTBI
SCL	0.68	-0.69	0.69	-0.29	-0.67	-0.32	-0.13		-0.45	SCL
ERIE	-0.43	0.34	-0.39	0.23	0.32	0.29	0.01	-0.45		ERIE
	SIGI	HMN	KMPR	PRA	CNA	RNR	CTBI	SCL	ERIE

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

CNA	+ 0.95	HMN
KMPR	+ 0.76	SIGI
CTBI	+ 0.71	PRA
SCL	+ 0.69	KMPR
SCL	+ 0.68	SIGI
RNR	+ 0.46	CNA

High negative correlations

PRA	- 0.69	KMPR
SCL	- 0.69	HMN
SCL	- 0.67	CNA
KMPR	- 0.66	HMN
CNA	- 0.64	KMPR
PRA	- 0.53	SIGI

Risk-Adjusted Indicators

There is a big difference between RLI Stock performing well and RLI Corp 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 RLI Corp'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
SIGI	1.39	(0.01)	0.00	0.12	0.00	0.00	2.62	(2.10)	19.77
HMN	0.99	0.13	(0.02)	(0.21)	1.28	(0.97)	2.34	(1.98)	5.64
KMPR	1.55	(0.19)	0.00	0.80	0.00	0.00	2.63	(2.80)	23.95
PRA	0.22	0.04	(0.28)	(0.68)	0.09	(0.28)	0.48	(0.42)	3.50
CNA	0.90	0.10	(0.05)	(0.11)	1.03	(0.93)	2.15	(1.80)	5.26
RNR	0.89	0.01	0.00	0.10	0.00	0.00	2.15	(1.61)	5.58
CTBI	1.15	0.29	0.11	(0.51)	0.90	(1.41)	3.16	(2.08)	6.23
SCL	1.55	(0.30)	0.00	(0.07)	0.00	0.00	2.93	(2.84)	14.47
ERIE	1.14	(0.07)	(0.05)	0.03	1.64	(1.06)	2.01	(2.69)	7.00

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