Old Republic Correlations

ORI Stock

USD 36.41 0.10 0.27%

The current 90-days correlation between Old Republic Interna and Axa Equitable Holdings is 0.39 (i.e., Weak diversification). The correlation of Old Republic 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.

Old Republic Correlation With Market

Very weak diversification

The correlation between Old Republic International and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Old Republic International and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Old Republic International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Old Stock

0.76	L	Loews Corp	Pair Corr
0.76	CNA	CNA Financial	Pair Corr
0.65	HCI	HCI Group	Pair Corr
0.67	MKL	Markel	Pair Corr
0.66	PGR	Progressive Corp Earnings Call This Week	Pair Corr
0.68	ROOT	Root Inc Earnings Call This Week	Pair Corr

Moving against Old Stock

0.37

CNFR

Conifer Holding

Pair Corr

Related Correlations Analysis

	EQH	AIG	ACGL	SLF	HIG	AXAHY	GSHD	IGIC	ESGR
EQH		0.33	-0.23	-0.59	-0.16	0.0	-0.06	0.33	0.79	EQH
AIG	0.33		0.61	0.27	0.75	0.0	0.7	0.7	0.32	AIG
ACGL	-0.23	0.61		0.69	0.91	0.0	0.7	0.42	-0.13	ACGL
SLF	-0.59	0.27	0.69		0.64	0.0	0.52	0.17	-0.39	SLF
HIG	-0.16	0.75	0.91	0.64		0.0	0.88	0.66	-0.01	HIG
AXAHY	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	AXAHY
GSHD	-0.06	0.7	0.7	0.52	0.88	0.0		0.79	0.17	GSHD
IGIC	0.33	0.7	0.42	0.17	0.66	0.0	0.79		0.46	IGIC
ESGR	0.79	0.32	-0.13	-0.39	-0.01	0.0	0.17	0.46		ESGR
	EQH	AIG	ACGL	SLF	HIG	AXAHY	GSHD	IGIC	ESGR

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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

HIG	+ 0.91	ACGL
GSHD	+ 0.88	HIG
ESGR	+ 0.79	EQH
IGIC	+ 0.79	GSHD
HIG	+ 0.75	AIG
GSHD	+ 0.7	AIG

High negative correlations

SLF	- 0.59	EQH
ESGR	- 0.39	SLF
ACGL	- 0.23	EQH
HIG	- 0.16	EQH
ESGR	- 0.13	ACGL
GSHD	- 0.06	EQH

Risk-Adjusted Indicators

There is a big difference between Old Stock performing well and Old Republic 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 Old Republic'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
EQH	1.11	0.24	0.17	0.36	1.13	(1.23)	2.98	(1.82)	8.61
AIG	0.92	(0.02)	0.00	(0.04)	0.00	0.00	2.11	(1.71)	5.49
ACGL	1.07	(0.14)	0.00	(0.17)	0.00	0.00	2.25	(2.18)	6.24
SLF	0.76	(0.10)	0.00	(0.49)	0.00	0.00	1.31	(1.59)	8.72
HIG	0.88	(0.07)	0.00	(0.09)	0.00	0.00	1.68	(2.37)	5.09
AXAHY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GSHD	1.89	0.13	0.07	0.14	1.89	(2.63)	4.49	(3.32)	10.77
IGIC	1.45	0.19	0.11	0.32	1.64	(1.65)	2.89	(2.57)	11.55
ESGR	0.16	0.02	0.08	0.48	0.07	(0.18)	0.41	(0.33)	1.05

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