Erie Indemnity Correlations

ERIE Stock

USD 409.90 4.37 1.05%

The correlation of Erie Indemnity 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.

Erie Indemnity Correlation With Market

Average diversification

The correlation between Erie Indemnity and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Erie Indemnity 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 Erie Indemnity. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For information on how to trade Erie Stock refer to our How to Trade Erie Stock guide.

Moving together with Erie Stock

0.74	CB	Chubb	Pair Corr
0.63	HG	Hamilton Insurance Group,	Pair Corr

Moving against Erie Stock

0.61	EHTH	eHealth	Pair Corr
0.59	SLQT	Selectquote	Pair Corr
0.52	GOCO	GoHealth	Pair Corr
0.63	CG	Carlyle Group Normal Trading	Pair Corr
0.6	BN	Brookfield Corp	Pair Corr
0.59	C	Citigroup Aggressive Push	Pair Corr
0.5	CM	Canadian Imperial Bank	Pair Corr
0.46	BX	Blackstone Group Normal Trading	Pair Corr
0.32	BY	Byline Bancorp	Pair Corr
0.6	KB	KB Financial Group	Pair Corr
0.6	MC	Moelis	Pair Corr
0.6	MS	Morgan Stanley	Pair Corr
0.6	PX	P10 Inc	Pair Corr
0.55	GS	Goldman Sachs Group	Pair Corr
0.48	PB	Prosperity Bancshares	Pair Corr

Related Correlations Analysis

	CRVL	HUIZ	CRD-B	EHTH	FANH	CRD-A	BRP	AJG	MMC	WTW
CRVL		-0.05	0.37	0.54	0.0	0.48	0.0	-0.02	-0.13	-0.14	CRVL
HUIZ	-0.05		0.15	0.09	0.0	0.17	0.0	0.4	0.11	0.07	HUIZ
CRD-B	0.37	0.15		0.45	0.0	0.93	0.0	0.3	0.28	0.4	CRD-B
EHTH	0.54	0.09	0.45		0.0	0.56	0.0	0.02	-0.35	-0.38	EHTH
FANH	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	FANH
CRD-A	0.48	0.17	0.93	0.56	0.0		0.0	0.34	0.26	0.34	CRD-A
BRP	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	BRP
AJG	-0.02	0.4	0.3	0.02	0.0	0.34	0.0		0.76	0.52	AJG
MMC	-0.13	0.11	0.28	-0.35	0.0	0.26	0.0	0.76		0.84	MMC
WTW	-0.14	0.07	0.4	-0.38	0.0	0.34	0.0	0.52	0.84		WTW
	CRVL	HUIZ	CRD-B	EHTH	FANH	CRD-A	BRP	AJG	MMC	WTW

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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

CRD-A	+ 0.93	CRD-B
WTW	+ 0.84	MMC
MMC	+ 0.76	AJG
CRD-A	+ 0.56	EHTH
EHTH	+ 0.54	CRVL
WTW	+ 0.52	AJG

High negative correlations

WTW	- 0.38	EHTH
MMC	- 0.35	EHTH
WTW	- 0.14	CRVL
MMC	- 0.13	CRVL
HUIZ	- 0.05	CRVL
AJG	- 0.02	CRVL

Risk-Adjusted Indicators

There is a big difference between Erie Stock performing well and Erie Indemnity 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 Erie Indemnity'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
CRVL	1.66	(0.09)	0.00	0.29	0.00	0.00	3.07	(4.35)	12.81
HUIZ	4.14	0.22	0.03	0.10	5.46	(4.70)	8.31	(8.81)	42.07
CRD-B	1.98	0.15	0.04	0.04	2.97	(2.00)	4.69	(3.89)	18.05
EHTH	3.80	0.52	0.19	(0.95)	3.19	(5.04)	8.96	(6.03)	48.01
FANH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CRD-A	1.45	0.07	0.04	0.00	1.87	(1.49)	2.91	(3.46)	11.25
BRP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AJG	1.01	0.28	0.22	1.12	1.24	(1.05)	2.05	(1.87)	6.86
MMC	0.71	0.16	0.26	11.26	0.70	(0.77)	1.39	(1.32)	4.02
WTW	0.83	0.12	0.16	0.46	0.93	(0.92)	1.95	(1.66)	5.93

Erie Indemnity Corporate Management

CPCU CPA	Ex CFO	Profile
Marc CIC	Senior Underwriting	Profile
Charles CIC	Senior Marketing	Profile
Jeffrey CPCU	Senior Services	Profile
CPCU FCAS	Ex Products	Profile
Ronald Habursky	Senior Officer	Profile
Bill Matrogran	Vice Operations	Profile

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