Enact Holdings Correlations

ACT Etf

USD 33.97 0.03 0.09%

The current 90-days correlation between Enact Holdings and Assured Guaranty is 0.57 (i.e., Very weak diversification). The correlation of Enact 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Enact Holdings Correlation With Market

Very weak diversification

The correlation between Enact Holdings and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enact Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Enact Holdings. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For more information on how to buy Enact Etf please use our How to Invest in Enact Holdings guide.

Moving together with Enact Etf

0.76	AXS	AXIS Capital Holdings	Pair Corr
0.87	FAF	First American	Pair Corr
0.68	FNF	Fidelity National Sell-off Trend	Pair Corr
0.61	RDN	Radian Group	Pair Corr
0.69	AXS-PE	AXIS Capital Holdings	Pair Corr
0.71	RYAN	Ryan Specialty Group	Pair Corr
0.65	V	Visa Class A Sell-off Trend	Pair Corr
0.66	BK	Bank of New York	Pair Corr

Moving against Enact Etf

0.53

ICCH

ICC Holdings

Pair Corr

Related Correlations Analysis

	AGO	AMSF	MBI	ICCH	AMBC	EIG	JRVR	MTG	NMIH
AGO		-0.15	0.68	0.09	0.55	-0.03	0.73	0.86	0.69	AGO
AMSF	-0.15		-0.31	0.05	0.23	0.91	-0.14	-0.05	0.34	AMSF
MBI	0.68	-0.31		-0.01	0.62	-0.17	0.66	0.5	0.19	MBI
ICCH	0.09	0.05	-0.01		0.27	-0.14	0.14	-0.17	0.18	ICCH
AMBC	0.55	0.23	0.62	0.27		0.23	0.71	0.41	0.53	AMBC
EIG	-0.03	0.91	-0.17	-0.14	0.23		-0.03	0.06	0.32	EIG
JRVR	0.73	-0.14	0.66	0.14	0.71	-0.03		0.56	0.48	JRVR
MTG	0.86	-0.05	0.5	-0.17	0.41	0.06	0.56		0.76	MTG
NMIH	0.69	0.34	0.19	0.18	0.53	0.32	0.48	0.76		NMIH
	AGO	AMSF	MBI	ICCH	AMBC	EIG	JRVR	MTG	NMIH

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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

EIG	+ 0.91	AMSF
MTG	+ 0.86	AGO
NMIH	+ 0.76	MTG
JRVR	+ 0.73	AGO
JRVR	+ 0.71	AMBC
NMIH	+ 0.69	AGO

High negative correlations

MBI	- 0.31	AMSF
MTG	- 0.17	ICCH
EIG	- 0.17	MBI
AMSF	- 0.15	AGO
EIG	- 0.14	ICCH
JRVR	- 0.14	AMSF

Enact Holdings Constituents Risk-Adjusted Indicators

There is a big difference between Enact Etf performing well and Enact Holdings ETF 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 Enact 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
AGO	1.12	0.00	0.00	(0.08)	0.00	0.00	2.10	(3.07)	7.84
AMSF	0.86	(0.06)	0.00	(0.25)	0.00	0.00	1.94	(1.72)	5.38
MBI	2.89	(0.12)	0.00	(0.37)	0.00	0.00	5.17	(5.36)	28.95
ICCH	0.42	0.03	0.13	0.11	0.55	(0.58)	1.18	(0.64)	4.57
AMBC	1.83	(0.57)	0.00	(0.68)	0.00	0.00	2.15	(6.63)	13.61
EIG	0.94	(0.03)	0.00	(0.14)	0.00	0.00	1.97	(2.27)	5.62
JRVR	2.03	(0.03)	0.00	(0.09)	0.00	0.00	4.31	(3.24)	35.31
MTG	1.03	(0.01)	0.00	(0.09)	0.00	0.00	1.80	(2.44)	7.24
NMIH	1.03	(0.06)	0.00	(0.15)	0.00	0.00	2.11	(2.74)	7.42

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