Kingsway Financial Correlations

KFS Stock

USD 7.96 0.25 3.24%

The current 90-days correlation between Kingsway Financial and CarGurus is 0.24 (i.e., Modest diversification). The correlation of Kingsway 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.

Kingsway Financial Correlation With Market

Modest diversification

The correlation between Kingsway Financial Services and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kingsway Financial Services and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kingsway Financial Services. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Kingsway Stock

0.72	SDA	SunCar Technology	Pair Corr
0.77	CARS	Cars Inc	Pair Corr
0.65	CARG	CarGurus	Pair Corr
0.63	SW	Smurfit WestRock plc	Pair Corr
0.76	F-PC	Ford Motor	Pair Corr
0.69	F-PD	F PD	Pair Corr
0.78	FIGS	Figs Inc Buyout Trend	Pair Corr
0.67	AIN	Albany International	Pair Corr
0.77	DMN	Damon Common Stock	Pair Corr
0.77	ECG	Everus Construction	Pair Corr
0.69	GEF	Greif Bros	Pair Corr
0.76	HNI	HNI Corp	Pair Corr
0.77	IPW	iPower Inc	Pair Corr
0.72	IVP	Inspire Veterinary	Pair Corr
0.76	MED	MEDIFAST INC	Pair Corr
0.74	MLR	Miller Industries	Pair Corr
0.79	MMA	Alta Global Group	Pair Corr
0.7	MRM	Medirom Healthcare Earnings Call Tomorrow	Pair Corr

Moving against Kingsway Stock

0.76	CYD	China Yuchai Interna	Pair Corr
0.74	EFOI	Energy Focu	Pair Corr
0.67	VRM	Vroom, Common Stock	Pair Corr
0.61	CCK	Crown Holdings	Pair Corr
0.54	OI	O I Glass	Pair Corr
0.48	MCW	Mister Car Wash,	Pair Corr
0.73	ROL	Rollins	Pair Corr
0.48	KAR	KAR Auction Services	Pair Corr
0.4	ZKH	ZKH Group Limited	Pair Corr
0.36	FATBP	FAT Brands	Pair Corr
0.35	HYZN	Hyzon Motors	Pair Corr
0.33	BC-PA	Brunswick Corp	Pair Corr
0.32	MYE	Myers Industries	Pair Corr

Related Correlations Analysis

	CARG	KAR	DRVN	GPI	CARS	RUSHA	SAH	RUSHB	ABG
CARG		-0.45	-0.34	0.6	0.91	0.77	0.72	0.41	0.6	CARG
KAR	-0.45		0.43	0.2	-0.5	-0.03	0.08	0.17	0.14	KAR
DRVN	-0.34	0.43		-0.36	-0.51	-0.18	-0.27	0.42	-0.2	DRVN
GPI	0.6	0.2	-0.36		0.56	0.82	0.93	0.44	0.9	GPI
CARS	0.91	-0.5	-0.51	0.56		0.67	0.64	0.17	0.52	CARS
RUSHA	0.77	-0.03	-0.18	0.82	0.67		0.89	0.64	0.77	RUSHA
SAH	0.72	0.08	-0.27	0.93	0.64	0.89		0.52	0.94	SAH
RUSHB	0.41	0.17	0.42	0.44	0.17	0.64	0.52		0.49	RUSHB
ABG	0.6	0.14	-0.2	0.9	0.52	0.77	0.94	0.49		ABG
	CARG	KAR	DRVN	GPI	CARS	RUSHA	SAH	RUSHB	ABG

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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

ABG	+ 0.94	SAH
SAH	+ 0.93	GPI
CARS	+ 0.91	CARG
ABG	+ 0.9	GPI
SAH	+ 0.89	RUSHA
RUSHA	+ 0.82	GPI

High negative correlations

CARS	- 0.51	DRVN
CARS	- 0.5	KAR
KAR	- 0.45	CARG
GPI	- 0.36	DRVN
DRVN	- 0.34	CARG
SAH	- 0.27	DRVN

Risk-Adjusted Indicators

There is a big difference between Kingsway Stock performing well and Kingsway 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 Kingsway 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
CARG	1.87	(0.22)	0.00	(0.12)	0.00	0.00	3.74	(4.18)	20.92
KAR	1.42	0.05	0.03	0.05	1.70	(1.46)	2.63	(3.08)	7.92
DRVN	1.43	0.11	0.06	0.09	1.58	(1.62)	2.68	(2.25)	12.31
GPI	1.38	(0.06)	0.00	(0.05)	0.00	0.00	2.59	(2.41)	13.30
CARS	2.41	(0.53)	0.00	(0.25)	0.00	0.00	4.60	(4.05)	25.98
RUSHA	1.49	0.03	0.01	0.01	2.06	(1.50)	3.06	(3.51)	10.06
SAH	1.48	(0.04)	0.00	(0.03)	0.00	0.00	2.81	(3.01)	11.27
RUSHB	1.53	0.10	0.05	0.07	1.99	(1.67)	3.05	(2.73)	8.87
ABG	1.72	(0.05)	0.00	(0.04)	0.00	0.00	3.50	(3.13)	18.09

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