Correlation Between Stewart Information and Horace Mann
Can any of the company-specific risk be diversified away by investing in both Stewart Information and Horace Mann at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Stewart Information and Horace Mann into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Stewart Information Services and Horace Mann Educators, you can compare the effects of market volatilities on Stewart Information and Horace Mann and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Stewart Information with a short position of Horace Mann. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stewart Information and Horace Mann.
Diversification Opportunities for Stewart Information and Horace Mann
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Stewart and Horace is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Stewart Information Services and Horace Mann Educators in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Horace Mann Educators and Stewart Information is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Stewart Information Services are associated (or correlated) with Horace Mann. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Horace Mann Educators has no effect on the direction of Stewart Information i.e., Stewart Information and Horace Mann go up and down completely randomly.
Pair Corralation between Stewart Information and Horace Mann
Considering the 90-day investment horizon Stewart Information is expected to generate 2.34 times less return on investment than Horace Mann. In addition to that, Stewart Information is 1.5 times more volatile than Horace Mann Educators. It trades about 0.01 of its total potential returns per unit of risk. Horace Mann Educators is currently generating about 0.04 per unit of volatility. If you would invest 4,434 in Horace Mann Educators on August 13, 2025 and sell it today you would earn a total of 128.00 from holding Horace Mann Educators or generate 2.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Stewart Information Services vs. Horace Mann Educators
Performance |
| Timeline |
| Stewart Information |
| Horace Mann Educators |
Stewart Information and Horace Mann Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Stewart Information and Horace Mann
The main advantage of trading using opposite Stewart Information and Horace Mann positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stewart Information position performs unexpectedly, Horace Mann 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 Horace Mann will offset losses from the drop in Horace Mann's long position.| Stewart Information vs. Skyward Specialty Insurance | Stewart Information vs. Slide Insurance Holdings, | Stewart Information vs. Horace Mann Educators | Stewart Information vs. Aspen Insurance Holdings |
| Horace Mann vs. Skyward Specialty Insurance | Horace Mann vs. Stewart Information Services | Horace Mann vs. Slide Insurance Holdings, | Horace Mann vs. Nicolet Bankshares |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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