Genworth Financial Correlations

GNW Stock

USD 6.93 0.11 1.56%

The correlation of Genworth Financial 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Genworth Financial Correlation With Market

Very weak diversification

The correlation between Genworth Financial and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Genworth Financial 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 Genworth 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.

For more information on how to buy Genworth Stock please use our How to Invest in Genworth Financial guide.

Moving together with Genworth Stock

0.67	FG	FG Annuities Life	Pair Corr
0.77	JXN-PA	Jackson Financial	Pair Corr
0.78	AX	Axos Financial	Pair Corr
0.69	BN	Brookfield Corp	Pair Corr
0.68	BX	Blackstone Group	Pair Corr

Moving against Genworth Stock

0.32	PUK	Prudential PLC ADR	Pair Corr
0.32	ABLLW	Abacus Life	Pair Corr
0.31	ANG-PB	American National	Pair Corr
0.54	LU	Lufax Holding	Pair Corr
0.41	DB	Deutsche Bank AG	Pair Corr
0.31	CB	Chubb	Pair Corr

Related Correlations Analysis

	AEL	MET-PA	NWLI	MDWT	PUK	PRI	CNO	AFL	FG
AEL		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	AEL
MET-PA	0.0		0.0	0.0	0.37	0.37	0.57	0.58	0.13	MET-PA
NWLI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	NWLI
MDWT	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	MDWT
PUK	0.0	0.37	0.0	0.0		0.26	0.74	0.67	-0.2	PUK
PRI	0.0	0.37	0.0	0.0	0.26		0.68	0.6	0.43	PRI
CNO	0.0	0.57	0.0	0.0	0.74	0.68		0.65	0.32	CNO
AFL	0.0	0.58	0.0	0.0	0.67	0.6	0.65		-0.08	AFL
FG	0.0	0.13	0.0	0.0	-0.2	0.43	0.32	-0.08		FG
	AEL	MET-PA	NWLI	MDWT	PUK	PRI	CNO	AFL	FG

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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

CNO	+ 0.74	PUK
CNO	+ 0.68	PRI
AFL	+ 0.67	PUK
AFL	+ 0.65	CNO
AFL	+ 0.6	PRI
AFL	+ 0.58	MET-PA

High negative correlations

FG	- 0.2	PUK
FG	- 0.08	AFL
FG	- 0.0	MDWT
AFL	- 0.0	MDWT
CNO	- 0.0	MDWT
PRI	- 0.0	MDWT

Risk-Adjusted Indicators

There is a big difference between Genworth Stock performing well and Genworth Financial 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 Genworth Financial'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
AEL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MET-PA	0.24	0.00	0.16	(0.09)	0.33	(0.29)	0.45	(0.44)	3.27
NWLI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MDWT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PUK	1.51	0.42	0.25	0.44	1.48	(1.69)	3.50	(3.20)	9.18
PRI	0.97	0.08	0.07	0.03	1.32	(1.00)	2.00	(2.53)	7.02
CNO	1.14	0.19	0.11	0.11	1.55	(1.14)	2.63	(2.56)	6.76
AFL	0.97	0.11	0.09	0.08	1.35	(0.91)	1.90	(2.31)	7.00
FG	2.21	(0.21)	0.00	(0.19)	0.00	0.00	3.75	(5.21)	20.86

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