Cannae Holdings Correlations

Stocks . USA . 
Stock . Cannae Holdings
CNNE Stock  USD 18.74  1.29  7.39%   
The correlation of Cannae 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.

Cannae Holdings Correlation With Market

Poor diversification

The correlation between Cannae Holdings and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cannae 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 Cannae 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 board of governors.
For information on how to trade Cannae Stock refer to our How to Trade Cannae Stock guide.

Moving together with Cannae Stock

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  0.65MS Morgan StanleyPairCorr
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  0.85RC Ready Capital CorpPairCorr
  0.73RM Regional Management Corp Normal TradingPairCorr
  0.73SF Stifel FinancialPairCorr
  0.78WT WisdomTreePairCorr
  0.76VCTR Victory Capital HoldingsPairCorr
  0.66VRTS Virtus InvestmentPairCorr
  0.78EARN Ellington Residential Potential GrowthPairCorr

Moving against Cannae Stock

  0.76DB Deutsche Bank AGPairCorr
  0.62LU Lufax HoldingPairCorr
  0.62LX Lexinfintech HoldingsPairCorr
  0.59DX Dynex CapitalPairCorr
  0.51TW Tradeweb Markets Normal TradingPairCorr
  0.86DYCQ DT Cloud AcquisitionPairCorr
  0.58EMCG Embrace Change AcquiPairCorr
  0.51DMYY dMY Squared TechnologyPairCorr
  0.42XP Xp IncPairCorr
  0.42EMCGU Embrace Change AcquiPairCorr
  0.41EMCGW Embrace Change AcquiPairCorr
  0.36WU Western UnionPairCorr

Related Correlations Analysis

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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   
CNOB
+ 0.7
HLNE
CNOB
+ 0.53
ATGE
HLNE
+ 0.29
ATGE
BSIG
+ 0.0
BKI
ATGE
+ 0.0
BKI
HLNE
+ 0.0
BKI
  
High negative correlations   
CNOB
- 0.0
BSIG
HLNE
- 0.0
BSIG
ATGE
- 0.0
BSIG
CNOB
- 0.0
BKI
HLNE
- 0.0
BKI
ATGE
- 0.0
BKI

Risk-Adjusted Indicators

There is a big difference between Cannae Stock performing well and Cannae Holdings 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 Cannae 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.

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