Horace Mann Correlations

HMN Stock

USD 41.87 0.00 0.00%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Horace Mann moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Horace Mann Educators moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Horace Mann Correlation With Market

Very weak diversification

The correlation between Horace Mann Educators and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horace Mann Educators 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 Horace Mann Educators. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Horace Stock

0.63	CB	Chubb	Pair Corr
0.67	ALL	Allstate	Pair Corr
0.61	CNA	CNA Financial	Pair Corr
0.64	MKL	Markel	Pair Corr
0.79	PGR	Progressive Corp	Pair Corr
0.81	STC	Stewart Information	Pair Corr
0.82	THG	Hanover Insurance	Pair Corr
0.66	TRV	The Travelers Companies	Pair Corr
0.78	UVE	Universal Insurance	Pair Corr
0.83	WRB	W R Berkley	Pair Corr
0.63	KMPR	Kemper	Pair Corr
0.79	PLMR	Palomar Holdings	Pair Corr
0.74	ROOT	Root Inc Normal Trading	Pair Corr
0.75	SKWD	Skyward Specialty	Pair Corr

Moving against Horace Stock

0.56	AFG	American Financial	Pair Corr
0.32	NODK	NI Holdings	Pair Corr
0.61	CG	Carlyle Group Normal Trading	Pair Corr
0.59	BX	Blackstone Group Normal Trading	Pair Corr
0.55	CM	Canadian Imperial Bank	Pair Corr
0.54	CNFR	Conifer Holding Earnings Call This Week	Pair Corr
0.41	SIGI	Selective Insurance	Pair Corr
0.33	AX	Axos Financial	Pair Corr
0.31	BN	Brookfield Corp	Pair Corr
0.31	EG	Everest Group	Pair Corr

Related Correlations Analysis

	KMPR	RLI	GBLI	ARGO-PA	SIGI	ARGO	NODK	DGICA	SIGIP	PRA
KMPR		-0.09	-0.04	0.39	-0.19	0.0	-0.11	0.39	0.38	0.2	KMPR
RLI	-0.09		0.07	-0.63	0.58	0.0	0.75	-0.08	-0.15	0.23	RLI
GBLI	-0.04	0.07		-0.15	0.14	0.0	0.14	-0.05	-0.03	0.16	GBLI
ARGO-PA	0.39	-0.63	-0.15		-0.55	0.0	-0.82	0.78	0.71	0.2	ARGO-PA
SIGI	-0.19	0.58	0.14	-0.55		0.0	0.57	-0.27	0.01	0.24	SIGI
ARGO	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	ARGO
NODK	-0.11	0.75	0.14	-0.82	0.57	0.0		-0.46	-0.37	0.01	NODK
DGICA	0.39	-0.08	-0.05	0.78	-0.27	0.0	-0.46		0.82	0.43	DGICA
SIGIP	0.38	-0.15	-0.03	0.71	0.01	0.0	-0.37	0.82		0.46	SIGIP
PRA	0.2	0.23	0.16	0.2	0.24	0.0	0.01	0.43	0.46		PRA
	KMPR	RLI	GBLI	ARGO-PA	SIGI	ARGO	NODK	DGICA	SIGIP	PRA

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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

SIGIP	+ 0.82	DGICA
DGICA	+ 0.78	ARGO-PA
NODK	+ 0.75	RLI
SIGIP	+ 0.71	ARGO-PA
SIGI	+ 0.58	RLI
NODK	+ 0.57	SIGI

High negative correlations

NODK	- 0.82	ARGO-PA
ARGO-PA	- 0.63	RLI
SIGI	- 0.55	ARGO-PA
DGICA	- 0.46	NODK
SIGIP	- 0.37	NODK
DGICA	- 0.27	SIGI

Risk-Adjusted Indicators

There is a big difference between Horace Stock performing well and Horace Mann 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 Horace Mann'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
KMPR	1.32	0.04	0.00	(0.02)	0.00	0.00	2.63	(2.58)	7.37
RLI	1.06	(0.14)	0.00	(0.38)	0.00	0.00	1.83	(2.00)	9.92
GBLI	1.32	(0.01)	0.04	(0.04)	1.62	(1.84)	4.00	(2.92)	9.40
ARGO-PA	0.12	0.03	0.67	1.09	0.00	(0.16)	0.25	(0.16)	0.65
SIGI	1.37	(0.08)	0.00	(0.24)	0.00	0.00	2.62	(2.27)	15.02
ARGO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NODK	1.16	(0.20)	0.00	(0.32)	0.00	0.00	2.11	(2.84)	9.93
DGICA	1.12	0.20	0.21	0.83	1.00	(1.42)	2.44	(1.98)	6.12
SIGIP	0.94	0.05	0.11	0.34	0.92	(1.13)	2.12	(1.54)	4.80
PRA	2.37	0.72	0.33	0.70	1.56	(2.99)	2.91	(2.98)	17.29

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