AXIS Capital Correlations

AXS Stock

USD 95.00 0.01 0.01%

The current 90-days correlation between AXIS Capital Holdings and Assured Guaranty is 0.67 (i.e., Poor diversification). The correlation of AXIS Capital 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.

AXIS Capital Correlation With Market

Modest diversification

The correlation between AXIS Capital Holdings and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AXIS Capital 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 AXIS Capital Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with AXIS Stock

0.81	ACT	Enact Holdings	Pair Corr
0.84	FAF	First American	Pair Corr
0.86	FNF	Fidelity National	Pair Corr
0.62	AXS-PE	AXIS Capital Holdings	Pair Corr
0.83	RYAN	Ryan Specialty Group	Pair Corr
0.7	TIPT	Tiptree	Pair Corr
0.67	L	Loews Corp	Pair Corr
0.73	V	Visa Class A	Pair Corr
0.63	BK	Bank of New York	Pair Corr
0.68	CB	Chubb	Pair Corr
0.71	DB	Deutsche Bank AG	Pair Corr

Moving against AXIS Stock

0.66	TRUP	Trupanion	Pair Corr
0.54	AMBC	Ambac Financial Group	Pair Corr
0.45	ICCH	ICC Holdings	Pair Corr
0.43	AX	Axos Financial	Pair Corr
0.37	DHIL	Diamond Hill Investment	Pair Corr
0.36	JRVR	James River Group	Pair Corr
0.69	LC	LendingClub Corp Sell-off Trend	Pair Corr
0.55	CM	Canadian Imperial Bank	Pair Corr
0.55	KB	KB Financial Group	Pair Corr
0.51	BX	Blackstone Group Normal Trading	Pair Corr
0.45	MC	Moelis	Pair Corr
0.44	CG	Carlyle Group Normal Trading	Pair Corr
0.41	RY	Royal Bank	Pair Corr
0.35	PX	P10 Inc	Pair Corr
0.35	RF	Regions Financial	Pair Corr

Related Correlations Analysis

	AGO	ACT	NMIH	RDN	AMSF	MBI	ICCH	AMBC	EIG
AGO		0.17	0.71	0.78	-0.23	0.7	0.26	0.58	-0.05	AGO
ACT	0.17		0.2	0.57	0.23	-0.07	-0.43	-0.31	0.36	ACT
NMIH	0.71	0.2		0.8	0.23	0.21	0.28	0.52	0.25	NMIH
RDN	0.78	0.57	0.8		0.03	0.33	0.06	0.31	0.14	RDN
AMSF	-0.23	0.23	0.23	0.03		-0.39	0.02	0.06	0.88	AMSF
MBI	0.7	-0.07	0.21	0.33	-0.39		0.22	0.66	-0.19	MBI
ICCH	0.26	-0.43	0.28	0.06	0.02	0.22		0.36	-0.13	ICCH
AMBC	0.58	-0.31	0.52	0.31	0.06	0.66	0.36		0.14	AMBC
EIG	-0.05	0.36	0.25	0.14	0.88	-0.19	-0.13	0.14		EIG
	AGO	ACT	NMIH	RDN	AMSF	MBI	ICCH	AMBC	EIG

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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	+ 0.88	AMSF
RDN	+ 0.8	NMIH
RDN	+ 0.78	AGO
NMIH	+ 0.71	AGO
MBI	+ 0.7	AGO
AMBC	+ 0.66	MBI

High negative correlations

ICCH	- 0.43	ACT
MBI	- 0.39	AMSF
AMBC	- 0.31	ACT
AMSF	- 0.23	AGO
EIG	- 0.19	MBI
EIG	- 0.13	ICCH

Risk-Adjusted Indicators

There is a big difference between AXIS Stock performing well and AXIS Capital 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 AXIS Capital'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
AGO	1.13	(0.03)	0.00	(0.11)	0.00	0.00	2.10	(3.07)	7.84
ACT	0.79	0.02	0.00	(0.03)	0.00	0.00	1.52	(2.21)	4.71
NMIH	1.02	(0.05)	0.00	(0.13)	0.00	0.00	2.11	(2.74)	7.42
RDN	1.01	(0.01)	0.00	(0.08)	0.00	0.00	1.91	(2.82)	6.29
AMSF	0.87	(0.03)	0.00	(0.15)	0.00	0.00	1.94	(1.72)	5.38
MBI	2.82	(0.07)	0.00	(0.24)	0.00	0.00	5.17	(5.36)	28.95
ICCH	0.42	0.02	0.12	0.20	0.55	(0.58)	1.18	(0.64)	4.57
AMBC	1.84	(0.55)	0.00	(0.65)	0.00	0.00	2.15	(6.63)	13.61
EIG	0.95	(0.07)	0.00	(0.21)	0.00	0.00	1.97	(2.27)	5.62

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