Bowhead Specialty Correlations

BOW Stock

40.15 0.74 1.81%

The current 90-days correlation between Bowhead Specialty and Sun Country Airlines is 0.04 (i.e., Significant diversification). The correlation of Bowhead Specialty 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.

Bowhead Specialty Correlation With Market

Modest diversification

The correlation between Bowhead Specialty Holdings and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bowhead Specialty 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 Bowhead Specialty 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 persons.

Moving together with Bowhead Stock

0.61	L	Loews Corp	Pair Corr
0.77	CB	Chubb Sell-off Trend	Pair Corr
0.83	ALL	Allstate	Pair Corr
0.82	PRA	ProAssurance Trending	Pair Corr
0.66	STC	Stewart Information	Pair Corr
0.61	TRV	The Travelers Companies	Pair Corr
0.72	UVE	Universal Insurance	Pair Corr
0.81	HRTG	Heritage Insurance Hldgs	Pair Corr
0.61	SIGIP	Selective Insurance	Pair Corr

Moving against Bowhead Stock

0.32	HGTY	Hagerty	Pair Corr
0.65	CNFR	Conifer Holding Earnings Call This Week	Pair Corr
0.62	WRB-PF	WR Berkley	Pair Corr
0.57	FG	FG Annuities Life	Pair Corr
0.56	CG	Carlyle Group Normal Trading	Pair Corr
0.5	C	Citigroup Aggressive Push	Pair Corr
0.48	CM	Canadian Imperial Bank	Pair Corr
0.47	BN	Brookfield Corp Sell-off Trend	Pair Corr
0.44	BX	Blackstone Group	Pair Corr

Related Correlations Analysis

	ODFL	SNCY	JDDSF	UAL	LTH	AFYA	VRRM	BC
ODFL		0.8	-0.01	0.76	0.12	-0.13	0.78	0.72	ODFL
SNCY	0.8		-0.14	0.86	0.26	-0.07	0.91	0.65	SNCY
JDDSF	-0.01	-0.14		0.23	-0.94	-0.77	0.04	0.37	JDDSF
UAL	0.76	0.86	0.23		-0.14	-0.43	0.92	0.86	UAL
LTH	0.12	0.26	-0.94	-0.14		0.81	0.06	-0.35	LTH
AFYA	-0.13	-0.07	-0.77	-0.43	0.81		-0.21	-0.53	AFYA
VRRM	0.78	0.91	0.04	0.92	0.06	-0.21		0.81	VRRM
BC	0.72	0.65	0.37	0.86	-0.35	-0.53	0.81		BC
	ODFL	SNCY	JDDSF	UAL	LTH	AFYA	VRRM	BC

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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

VRRM	+ 0.92	UAL
VRRM	+ 0.91	SNCY
UAL	+ 0.86	SNCY
BC	+ 0.86	UAL
AFYA	+ 0.81	LTH
BC	+ 0.81	VRRM

High negative correlations

LTH	- 0.94	JDDSF
AFYA	- 0.77	JDDSF
BC	- 0.53	AFYA
AFYA	- 0.43	UAL
BC	- 0.35	LTH
VRRM	- 0.21	AFYA

Risk-Adjusted Indicators

There is a big difference between Bowhead Stock performing well and Bowhead Specialty 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 Bowhead Specialty'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
ODFL	1.63	(0.25)	0.00	(0.19)	0.00	0.00	2.54	(3.62)	13.98
SNCY	2.24	(0.11)	0.00	(0.08)	0.00	0.00	4.92	(4.19)	15.02
JDDSF	0.86	(0.45)	0.00	0.54	0.00	0.00	0.00	0.00	19.86
UAL	2.58	(0.25)	0.00	(0.13)	0.00	0.00	4.47	(5.48)	12.22
LTH	1.72	0.52	0.19	0.50	2.10	(1.80)	3.91	(3.29)	12.68
AFYA	1.64	0.29	0.13	0.25	1.88	(1.82)	3.35	(3.64)	11.66
VRRM	1.23	(0.19)	0.00	(0.42)	0.00	0.00	2.23	(2.50)	14.15
BC	1.58	(0.34)	0.00	(0.24)	0.00	0.00	2.70	(3.55)	9.68

Bowhead Specialty Corporate Management

Chris Butler	Head Claims	Profile
Brandon Mezick	Head Specialty	Profile
Patricia Fitzgerald	Head Distribution	Profile
David Newman	Chief Officer	Profile
Steven Feltner	Chief Officer	Profile
Matthew Crusey	General Secretary	Profile

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