Argo Group Correlations

ARGD Stock

USD 21.55 0.25 1.15%

The current 90-days correlation between Argo Group 65 and Brighthouse Financial is 0.55 (i.e., Very weak diversification). The correlation of Argo Group 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.

Argo Group Correlation With Market

Average diversification

The correlation between Argo Group 65 and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Argo Group 65 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 Argo Group 65. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving against Argo Stock

0.39	DINO	HF Sinclair Corp Sell-off Trend	Pair Corr
0.35	ANNAW	AleAnna, Warrant	Pair Corr
0.33	VNOM	Viper Energy Ut	Pair Corr
0.33	VTLE	Vital Energy	Pair Corr
0.35	BKR	Baker Hughes	Pair Corr
0.33	BKV	BKV Corporation	Pair Corr

Related Correlations Analysis

	BHFAL	AFGB	CMSC	AEFC	RZB
BHFAL		0.59	0.36	0.37	-0.6	BHFAL
AFGB	0.59		0.91	0.77	-0.14	AFGB
CMSC	0.36	0.91		0.79	0.02	CMSC
AEFC	0.37	0.77	0.79		-0.11	AEFC
RZB	-0.6	-0.14	0.02	-0.11		RZB
	BHFAL	AFGB	CMSC	AEFC	RZB

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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

CMSC	+ 0.91	AFGB
AEFC	+ 0.79	CMSC
AEFC	+ 0.77	AFGB
AFGB	+ 0.59	BHFAL
AEFC	+ 0.37	BHFAL
CMSC	+ 0.36	BHFAL

High negative correlations

RZB	- 0.6	BHFAL
RZB	- 0.14	AFGB
RZB	- 0.11	AEFC

Risk-Adjusted Indicators

There is a big difference between Argo Stock performing well and Argo Group 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 Argo Group'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
BHFAL	0.97	(0.14)	0.00	(0.46)	0.00	0.00	1.71	(3.15)	8.26
AFGB	0.62	(0.09)	0.00	(0.35)	0.00	0.00	1.42	(1.34)	3.75
CMSC	0.47	(0.05)	0.00	(0.29)	0.00	0.00	1.27	(0.86)	2.68
AEFC	0.74	(0.06)	0.00	(0.30)	0.00	0.00	1.82	(1.41)	4.94
RZB	0.25	0.01	0.23	0.50	0.30	(0.28)	0.62	(0.49)	1.82

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