Century Insurance Correlations

CENI Stock

47.08 0.59 1.27%

The current 90-days correlation between Century Insurance and Hi Tech Lubricants is 0.09 (i.e., Significant diversification). The correlation of Century Insurance 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.

Century Insurance Correlation With Market

Good diversification

The correlation between Century Insurance and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Century Insurance and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Century Stock

0.93	LUCK	Lucky Cement Split	Pair Corr
0.64	FCCL	Fauji Cement	Pair Corr
0.77	BAHL	Bank Al Habib	Pair Corr
0.88	LCI	Lucky Core Ind	Pair Corr
0.8	FHAM	First Habib Modaraba	Pair Corr
0.89	MCBIM	MCB Investment Manag	Pair Corr
0.61	SITC	Sitara Chemical Indu	Pair Corr
0.62	JGICL	Jubilee General Insurance	Pair Corr
0.79	NBP	National Bank	Pair Corr
0.68	AGIC	Askari General Insurance	Pair Corr
0.84	SHFA	Shifa International	Pair Corr
0.72	PSYL	Pakistan Synthetics	Pair Corr
0.77	AGL	Agritech	Pair Corr
0.85	EWIC	East West Insurance	Pair Corr
0.84	GCIL	Ghani Chemical Industries	Pair Corr
0.69	EFUG	EFU General Insurance	Pair Corr

Moving against Century Stock

0.69	GATM	Gul Ahmed Textile	Pair Corr
0.59	PSO	Pakistan State Oil	Pair Corr
0.53	PTC	Pakistan Telecommunicatio	Pair Corr
0.52	KEL	K Electric	Pair Corr

Related Correlations Analysis

	HTL	CENI	JLICL	OGDC	STL	PINL	HICL
HTL		-0.79	0.78	0.15	-0.24	0.71	-0.42	HTL
CENI	-0.79		-0.7	-0.15	0.07	-0.48	0.48	CENI
JLICL	0.78	-0.7		0.07	-0.16	0.62	-0.36	JLICL
OGDC	0.15	-0.15	0.07		-0.27	0.22	-0.07	OGDC
STL	-0.24	0.07	-0.16	-0.27		-0.4	0.33	STL
PINL	0.71	-0.48	0.62	0.22	-0.4		-0.48	PINL
HICL	-0.42	0.48	-0.36	-0.07	0.33	-0.48		HICL
	HTL	CENI	JLICL	OGDC	STL	PINL	HICL

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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

JLICL	+ 0.78	HTL
PINL	+ 0.71	HTL
PINL	+ 0.62	JLICL
HICL	+ 0.48	CENI
HICL	+ 0.33	STL
PINL	+ 0.22	OGDC

High negative correlations

CENI	- 0.79	HTL
JLICL	- 0.7	CENI
HICL	- 0.48	PINL
PINL	- 0.48	CENI
HICL	- 0.42	HTL
PINL	- 0.4	STL

Risk-Adjusted Indicators

There is a big difference between Century Stock performing well and Century Insurance 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 Century Insurance'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
HTL	1.96	(0.40)	0.00	(0.85)	0.00	0.00	3.65	(3.72)	18.21
CENI	0.95	0.30	0.35	(1.42)	0.59	(1.43)	2.16	(1.79)	11.67
JLICL	1.74	(0.07)	0.00	(0.30)	0.00	0.00	3.89	(5.18)	14.07
OGDC	1.89	0.26	0.17	1.07	1.84	(2.23)	4.64	(3.83)	13.00
STL	1.85	(0.31)	0.00	2.43	0.00	0.00	3.86	(4.00)	16.33
PINL	2.15	(0.08)	0.00	(0.33)	0.00	0.00	5.68	(4.91)	18.56
HICL	2.19	0.16	0.08	0.54	2.79	(2.47)	5.63	(4.25)	22.41

Be your own money manager

Our tools can tell you how much better you can do entering a position in Century Insurance 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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