NMI Holdings Correlations

NMIH Stock

USD 35.29 0.17 0.48%

The current 90-days correlation between NMI Holdings and MGIC Investment Corp is 0.79 (i.e., Poor diversification). The correlation of NMI Holdings 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.

NMI Holdings Correlation With Market

Very weak diversification

The correlation between NMI Holdings and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NMI Holdings 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 NMI Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more detail on how to invest in NMI Stock please use our How to Invest in NMI Holdings guide.

Moving together with NMI Stock

0.7	AGO	Assured Guaranty	Pair Corr
0.76	MTG	MGIC Investment Corp	Pair Corr
0.74	RDN	Radian Group	Pair Corr
0.62	TRUP	Trupanion	Pair Corr
0.69	AX	Axos Financial	Pair Corr
0.64	BN	Brookfield Corp	Pair Corr
0.79	BX	Blackstone Group Normal Trading	Pair Corr
0.61	BY	Byline Bancorp	Pair Corr
0.74	CG	Carlyle Group Normal Trading	Pair Corr
0.65	CM	Canadian Imperial Bank	Pair Corr

Moving against NMI Stock

0.59	LU	Lufax Holding	Pair Corr
0.52	PT	Pintec Technology	Pair Corr
0.45	TW	Tradeweb Markets Normal Trading	Pair Corr
0.43	DB	Deutsche Bank AG	Pair Corr
0.38	LX	Lexinfintech Holdings	Pair Corr
0.38	WF	Woori Financial Group	Pair Corr
0.31	WU	Western Union	Pair Corr

Related Correlations Analysis

	MTG	EIG	JRVR	ICCH	AMSF	ITIC	RDN	ESNT	MBI	AGO
MTG		0.03	0.54	-0.07	-0.09	-0.13	0.85	0.82	0.5	0.87	MTG
EIG	0.03		-0.04	-0.11	0.9	0.81	0.12	-0.21	-0.16	-0.04	EIG
JRVR	0.54	-0.04		0.14	-0.2	-0.25	0.45	0.33	0.66	0.71	JRVR
ICCH	-0.07	-0.11	0.14		0.06	0.01	-0.17	-0.14	-0.01	0.21	ICCH
AMSF	-0.09	0.9	-0.2	0.06		0.85	0.03	-0.29	-0.36	-0.18	AMSF
ITIC	-0.13	0.81	-0.25	0.01	0.85		0.04	-0.43	-0.23	-0.22	ITIC
RDN	0.85	0.12	0.45	-0.17	0.03	0.04		0.64	0.32	0.69	RDN
ESNT	0.82	-0.21	0.33	-0.14	-0.29	-0.43	0.64		0.32	0.72	ESNT
MBI	0.5	-0.16	0.66	-0.01	-0.36	-0.23	0.32	0.32		0.61	MBI
AGO	0.87	-0.04	0.71	0.21	-0.18	-0.22	0.69	0.72	0.61		AGO
	MTG	EIG	JRVR	ICCH	AMSF	ITIC	RDN	ESNT	MBI	AGO

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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

AMSF	+ 0.9	EIG
AGO	+ 0.87	MTG
RDN	+ 0.85	MTG
ITIC	+ 0.85	AMSF
ESNT	+ 0.82	MTG
ITIC	+ 0.81	EIG

High negative correlations

ESNT	- 0.43	ITIC
MBI	- 0.36	AMSF
ESNT	- 0.29	AMSF
ITIC	- 0.25	JRVR
MBI	- 0.23	ITIC
AGO	- 0.22	ITIC

Risk-Adjusted Indicators

There is a big difference between NMI Stock performing well and NMI Holdings 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 NMI Holdings' 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
MTG	1.05	0.00	0.00	(0.07)	0.00	0.00	1.80	(2.44)	7.24
EIG	0.94	(0.03)	0.00	(0.13)	0.00	0.00	1.97	(2.27)	5.62
JRVR	2.03	(0.19)	0.00	0.16	0.00	0.00	4.31	(3.24)	35.31
ICCH	0.42	0.01	0.13	(0.19)	0.55	(0.58)	1.18	(0.64)	4.57
AMSF	0.87	(0.04)	0.00	(0.19)	0.00	0.00	1.94	(1.72)	5.38
ITIC	1.51	(0.06)	0.00	(0.13)	0.00	0.00	1.90	(2.72)	8.45
RDN	1.01	(0.09)	0.00	1.33	0.00	0.00	1.91	(2.82)	6.29
ESNT	0.95	0.07	0.06	0.03	1.41	(0.88)	1.87	(2.56)	5.90
MBI	2.89	(0.14)	0.00	(1.13)	0.00	0.00	5.17	(5.36)	28.95
AGO	1.11	(0.01)	0.00	(0.09)	0.00	0.00	2.10	(3.07)	7.84

NMI Holdings Corporate Management

William JD	Chief VP	Profile
Norman Fitzgerald	Executive Officer	Profile
Robert Smith	Executive Officer	Profile
Andrew Greenberg	Senior Finance	Profile

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