Affiliated Managers Correlations

MGR Stock  USD 22.78  0.10  0.44%   
The current 90-days correlation between Affiliated Managers and DBA Sempra 5750 is 0.64 (i.e., Poor diversification). The correlation of Affiliated Managers 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.

Affiliated Managers Correlation With Market

Weak diversification

The correlation between Affiliated Managers Group and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Affiliated Managers Group 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 Affiliated Managers 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 price.

Moving together with Affiliated Stock

  0.64RZB Reinsurance GroupPairCorr
  0.64OSCR Oscar HealthPairCorr
  0.73RILYT B Riley FinancialPairCorr
  0.62GAINZ Gladstone InvestmentPairCorr
  0.62TOST Toast IncPairCorr

Moving against Affiliated Stock

  0.57RCB Ready CapitalPairCorr
  0.46PRE Prenetics GlobalPairCorr
  0.37JKHY Jack Henry Associates Tech BoostPairCorr
  0.34STSSW Sharps Technology WarrantPairCorr
  0.32FAAS DigiAsia Corp Symbol ChangePairCorr
  0.42BKKT Bakkt HoldingsPairCorr
  0.41WINVR WinVest Acquisition CorpPairCorr
  0.31AGMH AGM Group HoldingsPairCorr

Related Correlations Analysis

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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   
NRUCCMSD
CMSDSREA
NRUCAFGB
NRUCSREA
AFGBCMSD
AFGBSREA
  
High negative correlations   
MHNCAFGB
MHNCSREA
MHNCCMSD

Risk-Adjusted Indicators

There is a big difference between Affiliated Stock performing well and Affiliated Managers 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 Affiliated Managers' 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.