Goosehead Insurance Correlations

GSHD Stock

USD 116.54 1.22 1.06%

The correlation of Goosehead Insurance 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.

Goosehead Insurance Correlation With Market

Weak diversification

The correlation between Goosehead Insurance and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goosehead Insurance 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 Goosehead Insurance. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

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

Moving together with Goosehead Stock

0.88	AJG	Arthur J Gallagher	Pair Corr
0.91	AON	Aon PLC	Pair Corr
0.87	BRO	Brown Brown	Pair Corr
0.9	MMC	Marsh McLennan Companies	Pair Corr
0.79	WTW	Willis Towers Watson	Pair Corr
0.77	V	Visa Class A	Pair Corr
0.68	BK	Bank of New York	Pair Corr
0.79	DB	Deutsche Bank AG	Pair Corr
0.73	GL	Globe Life	Pair Corr

Moving against Goosehead Stock

0.68	RELI	Reliance Global Group	Pair Corr
0.61	BX	Blackstone Group	Pair Corr
0.57	RELIW	Reliance Global Group	Pair Corr
0.55	AIFU	Fanhua Inc Symbol Change	Pair Corr
0.51	ZBAO	Zhibao Technology Class	Pair Corr
0.5	AX	Axos Financial	Pair Corr
0.47	TIRX	Tian Ruixiang Holdings	Pair Corr
0.46	DHIL	Diamond Hill Investment	Pair Corr
0.74	LC	LendingClub Corp	Pair Corr
0.64	CM	Canadian Imperial Bank	Pair Corr
0.62	KB	KB Financial Group	Pair Corr
0.58	WD	Walker Dunlop	Pair Corr
0.49	CG	Carlyle Group	Pair Corr
0.49	MC	Moelis	Pair Corr
0.48	RY	Royal Bank	Pair Corr
0.44	PX	P10 Inc	Pair Corr
0.4	RF	Regions Financial	Pair Corr
0.4	SF	Stifel Financial	Pair Corr

Related Correlations Analysis

	IGICW	ESGR	WDH	EQH	HIG	AXAHY	IGIC	AIG	SLF
IGICW		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	IGICW
ESGR	0.0		0.72	0.7	0.78	0.0	0.74	0.81	-0.83	ESGR
WDH	0.0	0.72		0.43	0.71	0.0	0.64	0.78	-0.54	WDH
EQH	0.0	0.7	0.43		0.51	0.0	0.74	0.44	-0.44	EQH
HIG	0.0	0.78	0.71	0.51		0.0	0.56	0.96	-0.56	HIG
AXAHY	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	AXAHY
IGIC	0.0	0.74	0.64	0.74	0.56	0.0		0.54	-0.59	IGIC
AIG	0.0	0.81	0.78	0.44	0.96	0.0	0.54		-0.62	AIG
SLF	0.0	-0.83	-0.54	-0.44	-0.56	0.0	-0.59	-0.62		SLF
	IGICW	ESGR	WDH	EQH	HIG	AXAHY	IGIC	AIG	SLF

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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

AIG	+ 0.96	HIG
AIG	+ 0.81	ESGR
HIG	+ 0.78	ESGR
AIG	+ 0.78	WDH
IGIC	+ 0.74	ESGR
IGIC	+ 0.74	EQH

High negative correlations

SLF	- 0.83	ESGR
SLF	- 0.62	AIG
SLF	- 0.59	IGIC
SLF	- 0.56	HIG
SLF	- 0.54	WDH
SLF	- 0.44	EQH

Risk-Adjusted Indicators

There is a big difference between Goosehead Stock performing well and Goosehead Insurance 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 Goosehead Insurance'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
IGICW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ESGR	0.14	0.03	0.44	0.42	0.00	(0.17)	0.41	(0.27)	1.38
WDH	2.57	0.47	0.17	(2.35)	2.60	(3.52)	6.35	(5.26)	21.52
EQH	1.48	0.26	0.10	0.13	2.19	(1.36)	3.32	(4.54)	9.18
HIG	0.90	0.14	0.14	0.15	0.98	(0.98)	2.14	(1.82)	5.10
AXAHY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IGIC	1.61	0.18	0.09	0.11	1.89	(1.69)	2.89	(2.89)	8.14
AIG	1.02	0.25	0.23	0.38	1.01	(1.12)	2.47	(1.72)	7.38
SLF	0.86	(0.05)	0.00	(0.16)	0.00	0.00	1.54	(2.11)	8.71

Goosehead Insurance Corporate Management

David Lakamp	Chief Officer	Profile
Patrick Langston	VP, Officer	Profile
Dan Jacobs	Vice Operations	Profile
Matt Walker	Managing Compliance	Profile

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