NMI Holdings Correlations

6NM Stock

EUR 32.40 0.20 0.62%

The current 90-days correlation between NMI Holdings and Nufarm Limited is 0.11 (i.e., Average diversification). The correlation of NMI Holdings 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.

NMI Holdings Correlation With Market

Significant diversification

The correlation between NMI Holdings and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NMI Holdings and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to NMI Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NMI Holdings 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 NMI Holdings - 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 NMI Holdings to buy it.

Moving together with NMI Stock

0.87	NRM	Insurance Australia	Pair Corr
0.76	HO1	Hologic	Pair Corr

Moving against NMI Stock

0.78	SLT	SCHALTBAU HOLDING	Pair Corr
0.65	FLN	Admiral Group plc	Pair Corr
0.64	VVDH	Veolia Environnement	Pair Corr
0.63	IPOK	Heidelberger Beteiligungshold	Pair Corr
0.6	PGV	Progressive	Pair Corr
0.53	DBPE	Xtrackers LevDAX	Pair Corr
0.34	PJC	PICC Property Earnings Call This Week	Pair Corr
0.32	QBE	QBE Insurance Group	Pair Corr
0.32	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	NUF	4GF	GRU	3TY	902	AY5	F51	A35
NUF		0.46	0.75	0.49	0.57	0.4	0.39	0.42	NUF
4GF	0.46		0.24	0.64	0.22	-0.13	0.73	0.62	4GF
GRU	0.75	0.24		0.37	0.75	0.72	0.21	0.2	GRU
3TY	0.49	0.64	0.37		0.25	-0.02	0.75	0.47	3TY
902	0.57	0.22	0.75	0.25		0.62	0.01	-0.14	902
AY5	0.4	-0.13	0.72	-0.02	0.62		-0.22	-0.09	AY5
F51	0.39	0.73	0.21	0.75	0.01	-0.22		0.67	F51
A35	0.42	0.62	0.2	0.47	-0.14	-0.09	0.67		A35
	NUF	4GF	GRU	3TY	902	AY5	F51	A35

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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

GRU	+ 0.75	NUF
902	+ 0.75	GRU
F51	+ 0.75	3TY
F51	+ 0.73	4GF
AY5	+ 0.72	GRU
A35	+ 0.67	F51

High negative correlations

F51	- 0.22	AY5
A35	- 0.14	902
AY5	- 0.13	4GF
A35	- 0.09	AY5
AY5	- 0.02	3TY

Risk-Adjusted Indicators

There is a big difference between NMI Stock performing well and NMI Holdings 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 NMI Holdings' 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
NUF	1.45	0.05	0.05	0.05	1.57	(1.73)	2.88	(2.78)	6.73
4GF	1.48	(0.05)	0.00	1.01	0.00	0.00	2.80	(3.64)	7.41
GRU	2.28	0.20	0.07	0.40	3.18	(2.46)	5.94	(5.19)	18.68
3TY	2.62	(0.13)	0.00	(0.40)	0.00	0.00	4.85	(5.04)	21.24
902	2.57	0.27	0.05	0.40	3.03	(5.89)	6.25	(5.88)	12.55
AY5	0.89	0.12	0.12	0.69	0.81	(1.75)	2.35	(1.25)	6.95
F51	2.64	(0.38)	0.00	(0.51)	0.00	0.00	5.56	(5.36)	27.99
A35	1.20	(0.14)	0.00	(0.41)	0.00	0.00	2.56	(2.75)	11.85

Be your own money manager

Our tools can tell you how much better you can do entering a position in NMI Holdings 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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NMI Holdings Corporate Management

Elected by the shareholders, the NMI Holdings' board of directors comprises two types of representatives: NMI Holdings inside directors who are chosen from within the company, and outside directors, selected externally and held independent of NMI. The board's role is to monitor NMI Holdings' management team and ensure that shareholders' interests are well served. NMI Holdings' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, NMI Holdings' outside directors are responsible for providing unbiased perspectives on the board's policies.

Norman Fitzgerald	Ex Officer	Profile
Ravi Mallela	Ex CFO	Profile
Robert Smith	Ex Officer	Profile
Allison Miller	VP CHRO	Profile

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