Axa Equitable Correlations

EQH Stock

USD 53.59 1.04 1.98%

The current 90-days correlation between Axa Equitable Holdings and American International Group is 0.17 (i.e., Average diversification). The correlation of Axa Equitable 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.

Axa Equitable Correlation With Market

Good diversification

The correlation between Axa Equitable Holdings and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Axa Equitable Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Axa Equitable 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 producer price index.

Moving against Axa Stock

0.41	DHIL	Diamond Hill Investment	Pair Corr
0.32	LC	LendingClub Corp	Pair Corr
0.47	ESHA	ESH Acquisition Corp	Pair Corr
0.34	VRTS	Virtus Investment	Pair Corr

Related Correlations Analysis

	AIG	ACGL	ORI	SLF	ARZGY	ALIZY	BBSEY	ALIZF	IGIC	ESGR
AIG		0.02	0.84	-0.37	0.57	0.0	0.86	0.94	0.52	0.79	AIG
ACGL	0.02		0.07	0.5	-0.3	0.0	-0.03	-0.1	-0.3	-0.32	ACGL
ORI	0.84	0.07		-0.44	0.64	0.0	0.84	0.79	0.68	0.82	ORI
SLF	-0.37	0.5	-0.44		-0.72	0.0	-0.38	-0.45	-0.35	-0.67	SLF
ARZGY	0.57	-0.3	0.64	-0.72		0.0	0.7	0.67	0.51	0.71	ARZGY
ALIZY	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	ALIZY
BBSEY	0.86	-0.03	0.84	-0.38	0.7	0.0		0.91	0.67	0.79	BBSEY
ALIZF	0.94	-0.1	0.79	-0.45	0.67	0.0	0.91		0.54	0.8	ALIZF
IGIC	0.52	-0.3	0.68	-0.35	0.51	0.0	0.67	0.54		0.71	IGIC
ESGR	0.79	-0.32	0.82	-0.67	0.71	0.0	0.79	0.8	0.71		ESGR
	AIG	ACGL	ORI	SLF	ARZGY	ALIZY	BBSEY	ALIZF	IGIC	ESGR

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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

ALIZF	+ 0.94	AIG
ALIZF	+ 0.91	BBSEY
BBSEY	+ 0.86	AIG
ORI	+ 0.84	AIG
BBSEY	+ 0.84	ORI
ESGR	+ 0.82	ORI

High negative correlations

ARZGY	- 0.72	SLF
ESGR	- 0.67	SLF
ALIZF	- 0.45	SLF
SLF	- 0.44	ORI
BBSEY	- 0.38	SLF
SLF	- 0.37	AIG

Risk-Adjusted Indicators

There is a big difference between Axa Stock performing well and Axa Equitable 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 Axa Equitable'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
AIG	0.99	0.24	0.22	(3.62)	0.96	(1.09)	2.47	(1.59)	7.38
ACGL	1.08	0.02	0.05	(0.26)	1.14	(1.21)	2.65	(2.08)	6.24
ORI	0.86	0.16	0.16	(15.02)	1.07	(0.90)	2.16	(1.46)	6.06
SLF	0.89	(0.03)	0.00	(0.09)	0.00	0.00	2.00	(2.11)	8.71
ARZGY	0.94	0.25	0.27	(8.15)	0.80	(1.11)	2.10	(1.55)	4.32
ALIZY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BBSEY	1.17	0.40	0.20	3.58	1.50	(1.39)	2.87	(1.42)	9.88
ALIZF	1.44	0.38	0.23	1.55	1.28	(1.82)	3.10	(2.98)	8.48
IGIC	1.64	0.19	0.11	1.79	1.95	(1.71)	2.89	(2.89)	8.27
ESGR	0.14	0.04	0.41	7.14	0.00	(0.17)	0.41	(0.21)	1.38

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