Hagerty Correlations

HGTY Stock

USD 9.28 0.05 0.54%

The current 90-days correlation between Hagerty and Selective Insurance Group is 0.27 (i.e., Modest diversification). The correlation of Hagerty 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.

Hagerty Correlation With Market

Weak diversification

The correlation between Hagerty and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hagerty 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 Hagerty. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

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

Moving together with Hagerty Stock

0.65	MCY	Mercury General	Pair Corr
0.62	PRA	ProAssurance	Pair Corr
0.65	RLI	RLI Corp	Pair Corr
0.69	STC	Stewart Information Normal Trading	Pair Corr
0.77	KNSL	Kinsale Capital Group	Pair Corr
0.74	LMND	Lemonade	Pair Corr
0.74	NODK	NI Holdings	Pair Corr
0.71	ACIC	American Coastal Ins	Pair Corr
0.63	SAFT	Safety Insurance	Pair Corr

Moving against Hagerty Stock

0.45

HCI

HCI Group

Pair Corr

Related Correlations Analysis

	SIGI	KMPR	DGICB	ARGO-PA	GBLI	NODK	HMN	DGICA	SIGIP	UFCS
SIGI		0.0	0.01	-0.69	0.17	0.69	-0.3	-0.25	0.2	0.55	SIGI
KMPR	0.0		-0.13	0.11	-0.04	0.23	0.6	0.31	0.42	0.22	KMPR
DGICB	0.01	-0.13		0.19	-0.21	-0.13	0.01	0.38	0.15	0.15	DGICB
ARGO-PA	-0.69	0.11	0.19		-0.3	-0.8	0.38	0.61	0.3	-0.35	ARGO-PA
GBLI	0.17	-0.04	-0.21	-0.3		0.24	-0.12	-0.19	-0.11	0.07	GBLI
NODK	0.69	0.23	-0.13	-0.8	0.24		-0.01	-0.19	0.17	0.67	NODK
HMN	-0.3	0.6	0.01	0.38	-0.12	-0.01		0.76	0.52	0.41	HMN
DGICA	-0.25	0.31	0.38	0.61	-0.19	-0.19	0.76		0.7	0.48	DGICA
SIGIP	0.2	0.42	0.15	0.3	-0.11	0.17	0.52	0.7		0.57	SIGIP
UFCS	0.55	0.22	0.15	-0.35	0.07	0.67	0.41	0.48	0.57		UFCS
	SIGI	KMPR	DGICB	ARGO-PA	GBLI	NODK	HMN	DGICA	SIGIP	UFCS

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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	+ 0.76	HMN
SIGIP	+ 0.7	DGICA
NODK	+ 0.69	SIGI
UFCS	+ 0.67	NODK
DGICA	+ 0.61	ARGO-PA
HMN	+ 0.6	KMPR

High negative correlations

NODK	- 0.8	ARGO-PA
ARGO-PA	- 0.69	SIGI
UFCS	- 0.35	ARGO-PA
GBLI	- 0.3	ARGO-PA
HMN	- 0.3	SIGI
DGICA	- 0.25	SIGI

Risk-Adjusted Indicators

There is a big difference between Hagerty Stock performing well and Hagerty 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 Hagerty'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
SIGI	1.37	(0.11)	0.00	(0.37)	0.00	0.00	2.62	(2.27)	15.02
KMPR	1.38	0.07	0.00	(0.04)	0.00	0.00	2.63	(3.04)	7.37
DGICB	2.13	0.15	0.05	0.35	2.62	(3.18)	4.71	(5.55)	17.15
ARGO-PA	0.12	0.03	0.96	1.15	0.00	(0.16)	0.25	(0.16)	0.65
GBLI	1.33	(0.06)	0.00	0.04	0.00	0.00	3.99	(2.92)	9.43
NODK	1.17	(0.16)	0.00	(0.30)	0.00	0.00	2.11	(2.84)	9.93
HMN	1.27	0.12	0.07	0.03	1.88	(1.14)	2.17	(3.10)	9.56
DGICA	1.11	0.19	0.23	0.83	1.02	(1.40)	2.44	(1.98)	6.12
SIGIP	0.94	(0.01)	0.00	(0.15)	0.00	0.00	2.12	(1.56)	4.80
UFCS	1.51	(0.01)	0.00	(0.12)	0.00	0.00	3.25	(3.68)	8.16

Hagerty Corporate Management

Diana Chafey	Chief Secretary	Profile
Daniel Ignoto	VP Partnerships	Profile
John Butcher	Pres Markets	Profile
Collette Champagne	Chief Officer	Profile
Chuck Favour	Chief Officer	Profile
Paul BA	Marketing Media	Profile
McKeel Hagerty	CEO Director	Profile

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