HCI Correlations

HCI Stock

USD 136.02 0.48 0.35%

The current 90-days correlation between HCI Group and Universal Insurance Holdings is 0.36 (i.e., Weak diversification). The correlation of HCI 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.

HCI Correlation With Market

Weak diversification

The correlation between HCI Group and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HCI Group 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 HCI Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with HCI Stock

0.75	CB	Chubb	Pair Corr
0.69	ALL	Allstate	Pair Corr
0.88	HIG	Hartford Financial	Pair Corr
0.79	ORI	Old Republic Interna	Pair Corr
0.81	PGR	Progressive Corp	Pair Corr
0.84	THG	Hanover Insurance	Pair Corr
0.83	TRV	The Travelers Companies	Pair Corr
0.74	WRB	W R Berkley	Pair Corr
0.77	PLMR	Palomar Holdings	Pair Corr
0.81	ROOT	Root Inc Normal Trading	Pair Corr

Moving against HCI Stock

0.5	RLI	RLI Corp	Pair Corr
0.45	MCY	Mercury General	Pair Corr
0.44	AFG	American Financial	Pair Corr
0.67	NODK	NI Holdings	Pair Corr
0.61	SAFT	Safety Insurance	Pair Corr
0.48	ACIC	American Coastal Ins	Pair Corr
0.47	HGTY	Hagerty Potential Growth	Pair Corr
0.4	SIGI	Selective Insurance Normal Trading	Pair Corr
0.34	WTM	White Mountains Insurance	Pair Corr
0.34	LMND	Lemonade	Pair Corr

Related Correlations Analysis

	UVE	KINS	HMN	HRTG	UFCS	NODK	DGICA	GBLI	SIGIP
UVE		-0.09	0.77	0.6	0.7	0.09	0.86	-0.2	0.66	UVE
KINS	-0.09		0.29	0.14	-0.25	0.02	-0.19	-0.06	-0.25	KINS
HMN	0.77	0.29		0.56	0.41	-0.07	0.77	-0.13	0.53	HMN
HRTG	0.6	0.14	0.56		0.64	0.26	0.43	0.26	0.31	HRTG
UFCS	0.7	-0.25	0.41	0.64		0.61	0.49	0.05	0.55	UFCS
NODK	0.09	0.02	-0.07	0.26	0.61		-0.25	0.22	0.07	NODK
DGICA	0.86	-0.19	0.77	0.43	0.49	-0.25		-0.18	0.73	DGICA
GBLI	-0.2	-0.06	-0.13	0.26	0.05	0.22	-0.18		-0.13	GBLI
SIGIP	0.66	-0.25	0.53	0.31	0.55	0.07	0.73	-0.13		SIGIP
	UVE	KINS	HMN	HRTG	UFCS	NODK	DGICA	GBLI	SIGIP

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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

DGICA	+ 0.86	UVE
HMN	+ 0.77	UVE
DGICA	+ 0.77	HMN
SIGIP	+ 0.73	DGICA
UFCS	+ 0.7	UVE
SIGIP	+ 0.66	UVE

High negative correlations

DGICA	- 0.25	NODK
SIGIP	- 0.25	KINS
UFCS	- 0.25	KINS
GBLI	- 0.2	UVE
DGICA	- 0.19	KINS
GBLI	- 0.18	DGICA

Risk-Adjusted Indicators

There is a big difference between HCI Stock performing well and HCI 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 HCI'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
UVE	1.28	0.07	0.07	0.05	1.56	(1.35)	2.40	(2.73)	12.00
KINS	3.60	0.31	0.04	0.04	4.59	(3.71)	6.56	(7.04)	22.98
HMN	1.27	0.11	0.06	0.04	1.88	(1.14)	2.19	(3.10)	9.56
HRTG	2.24	0.25	0.08	0.15	2.97	(2.28)	4.50	(5.44)	13.56
UFCS	1.48	0.00	0.00	(0.09)	0.00	0.00	3.25	(3.68)	8.16
NODK	1.17	(0.22)	0.00	(0.36)	0.00	0.00	2.11	(2.84)	9.93
DGICA	1.13	0.23	0.25	0.93	1.00	(1.42)	2.44	(1.98)	6.12
GBLI	1.31	(0.02)	0.06	(0.05)	1.58	(1.83)	3.99	(2.92)	9.43
SIGIP	0.96	0.01	0.09	(0.03)	0.97	(1.18)	2.12	(1.56)	4.80

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