Fidelity National Correlations

Stocks . USA . 
Stock . Fidelity National Financial
FNF Stock  USD 65.27  0.39  0.60%   
The current 90-days correlation between Fidelity National and AXIS Capital Holdings is 0.61 (i.e., Poor diversification). The correlation of Fidelity National 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.

Fidelity National Correlation With Market

Very weak diversification

The correlation between Fidelity National Financial and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity National Financial 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 Fidelity National Financial. 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.

Moving together with Fidelity Stock

  0.74ACT Enact HoldingsPairCorr
  0.88AXS AXIS Capital HoldingsPairCorr
  0.81FAF First AmericanPairCorr
  0.69AXS-PE AXIS Capital HoldingsPairCorr
  0.68ITIC Investors TitlePairCorr
  0.83RYAN Ryan Specialty GroupPairCorr
  0.91TIPT TiptreePairCorr
  0.7L Loews CorpPairCorr
  0.77CB ChubbPairCorr
  0.61DB Deutsche Bank AGPairCorr

Moving against Fidelity Stock

  0.86AMBC Ambac Financial GroupPairCorr
  0.78TRUP TrupanionPairCorr
  0.68JRVR James River GroupPairCorr
  0.62MBI MBIA IncPairCorr
  0.49AX Axos FinancialPairCorr
  0.47AGO Assured GuarantyPairCorr
  0.4ICCH ICC HoldingsPairCorr
  0.4C Citigroup Aggressive PushPairCorr
  0.34DIST Distoken AcquisitionPairCorr
  0.32NMIH NMI HoldingsPairCorr
  0.79LC LendingClub CorpPairCorr
  0.67MC MoelisPairCorr
  0.66PX P10 IncPairCorr
  0.64KB KB Financial GroupPairCorr
  0.62CG Carlyle Group Normal TradingPairCorr
  0.61RF Regions FinancialPairCorr
  0.61SF Stifel FinancialPairCorr
  0.58BX Blackstone GroupPairCorr
  0.58BY Byline BancorpPairCorr

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   
ESNT
+ 0.87
RDN
ACT
+ 0.84
AXS
MTG
+ 0.84
AGO
MTG
+ 0.84
RDN
RDN
+ 0.81
NMIH
NMIH
+ 0.77
AGO
  
High negative correlations   
JRVR
- 0.43
AXS
JRVR
- 0.28
ACT
NMIH
- 0.16
AXS
AGO
- 0.16
AXS
EIG
- 0.1
JRVR
EIG
- 0.05
MTG

Risk-Adjusted Indicators

There is a big difference between Fidelity Stock performing well and Fidelity National 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 Fidelity National'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.

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