Greenlight Capital Correlations

GLRE Stock

USD 13.62 0.21 1.57%

The correlation of Greenlight Capital 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.

Greenlight Capital Correlation With Market

Weak diversification

The correlation between Greenlight Capital Re and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Greenlight Capital Re and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Greenlight Capital Re. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Greenlight Stock

0.82	EG	Everest Group	Pair Corr
0.92	RNR	Renaissancere Holdings	Pair Corr
0.84	MHLD	Maiden Holdings	Pair Corr
0.79	AHL-PD	Aspen Insurance Holdings	Pair Corr
0.84	RNR-PG	RenaissanceRe Holdings	Pair Corr
0.89	RNR-PF	RenaissanceRe Holdings	Pair Corr
0.81	SPNT	Siriuspoint Normal Trading	Pair Corr
0.91	DHIL	Diamond Hill Investment Earnings Call Today	Pair Corr
0.91	AX	Axos Financial	Pair Corr
0.84	BX	Blackstone Group	Pair Corr
0.74	BY	Byline Bancorp	Pair Corr
0.77	CB	Chubb	Pair Corr
0.74	CM	Canadian Imperial Bank Earnings Call Today	Pair Corr
0.77	IX	Orix Corp Ads	Pair Corr
0.67	KB	KB Financial Group	Pair Corr

Moving against Greenlight Stock

0.85	OXBRW	Oxbridge Re Holdings	Pair Corr
0.78	OXBR	Oxbridge Re Holdings	Pair Corr
0.7	V	Visa Class A	Pair Corr
0.64	C	Citigroup	Pair Corr
0.64	DB	Deutsche Bank AG	Pair Corr
0.43	BK	Bank of New York	Pair Corr
0.42	SPNT-PB	SiriusPoint	Pair Corr
0.38	AB	AllianceBernstein Normal Trading	Pair Corr
0.84	VBFC	Village Bank	Pair Corr
0.77	LX	Lexinfintech Holdings	Pair Corr
0.73	GL	Globe Life	Pair Corr
0.64	RM	Regional Management Corp	Pair Corr
0.55	MA	Mastercard	Pair Corr
0.55	DMYY	dMY Squared Technology	Pair Corr
0.49	TD	Toronto Dominion Bank Earnings Call Today	Pair Corr
0.46	YHNAU	YHN Acquisition I	Pair Corr

Related Correlations Analysis

	BNRE	RGA	SPNT	SCRYY	SPNT-PB	MHLD	RNR-PF	RNR-PG	RE
BNRE		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	BNRE
RGA	0.0		0.44	-0.12	-0.34	0.43	0.36	0.3	0.0	RGA
SPNT	0.0	0.44		-0.22	-0.1	0.74	0.7	0.67	0.0	SPNT
SCRYY	0.0	-0.12	-0.22		0.31	-0.45	-0.12	-0.07	0.0	SCRYY
SPNT-PB	0.0	-0.34	-0.1	0.31		-0.53	-0.4	-0.34	0.0	SPNT-PB
MHLD	0.0	0.43	0.74	-0.45	-0.53		0.73	0.72	0.0	MHLD
RNR-PF	0.0	0.36	0.7	-0.12	-0.4	0.73		0.97	0.0	RNR-PF
RNR-PG	0.0	0.3	0.67	-0.07	-0.34	0.72	0.97		0.0	RNR-PG
RE	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		RE
	BNRE	RGA	SPNT	SCRYY	SPNT-PB	MHLD	RNR-PF	RNR-PG	RE

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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

RNR-PG	+ 0.97	RNR-PF
MHLD	+ 0.74	SPNT
RNR-PF	+ 0.73	MHLD
RNR-PG	+ 0.72	MHLD
RNR-PF	+ 0.7	SPNT
RNR-PG	+ 0.67	SPNT

High negative correlations

MHLD	- 0.53	SPNT-PB
MHLD	- 0.45	SCRYY
RNR-PF	- 0.4	SPNT-PB
RNR-PG	- 0.34	SPNT-PB
SPNT-PB	- 0.34	RGA
SCRYY	- 0.22	SPNT

Risk-Adjusted Indicators

There is a big difference between Greenlight Stock performing well and Greenlight Capital 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 Greenlight Capital'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
BNRE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RGA	1.26	(0.21)	0.00	(0.19)	0.00	0.00	2.07	(3.43)	12.10
SPNT	1.55	(0.02)	0.00	(0.02)	0.00	0.00	2.59	(3.57)	19.39
SCRYY	2.08	0.15	0.05	0.42	2.34	(2.90)	5.69	(3.89)	16.03
SPNT-PB	0.26	0.03	0.08	(1.38)	0.17	(0.33)	0.68	(0.40)	2.04
MHLD	4.43	(0.86)	0.00	(0.46)	0.00	0.00	7.29	(8.79)	53.37
RNR-PF	0.60	(0.09)	0.00	(0.25)	0.00	0.00	1.71	(1.21)	4.38
RNR-PG	0.92	(0.10)	0.00	(0.32)	0.00	0.00	1.57	(1.65)	5.43
RE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Greenlight Capital Corporate Management

Jim Ehman	Head Islands	Profile
Adam Prior	IR Contact Officer	Profile
Thomas Curnock	Chief Officer	Profile
Faramarz Romer	Chief Treasurer	Profile
Kagabo Ngiruwonsanga	Head Underwriting	Profile
Brian OReilly	Head Innovations	Profile

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