Progressive Corp Correlations

PGR Stock

USD 272.86 1.76 0.64%

The current 90-days correlation between Progressive Corp and Chubb is -0.17 (i.e., Good diversification). The correlation of Progressive Corp 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.

Progressive Corp Correlation With Market

Good diversification

The correlation between Progressive Corp and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Progressive Corp 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 Progressive Corp. 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.

To learn how to invest in Progressive Stock, please use our How to Invest in Progressive Corp guide.

Moving together with Progressive Stock

0.7	CB	Chubb	Pair Corr
0.65	ALL	Allstate	Pair Corr
0.82	HCI	HCI Group	Pair Corr
0.74	HMN	Horace Mann Educators	Pair Corr
0.64	MKL	Markel	Pair Corr
0.87	THG	Hanover Insurance	Pair Corr
0.8	TRV	The Travelers Companies	Pair Corr
0.66	UVE	Universal Insurance	Pair Corr
0.91	WRB	W R Berkley	Pair Corr
0.67	SIGIP	Selective Insurance	Pair Corr
0.76	ALL-PJ	Allstate	Pair Corr
0.95	PLMR	Palomar Holdings	Pair Corr
0.89	ROOT	Root Inc Normal Trading	Pair Corr

Moving against Progressive Stock

0.74	AFG	American Financial	Pair Corr
0.45	RLI	RLI Corp	Pair Corr
0.33	MCY	Mercury General	Pair Corr
0.68	NODK	NI Holdings	Pair Corr
0.63	SAFT	Safety Insurance	Pair Corr
0.51	WTM	White Mountains Insurance	Pair Corr
0.75	CNFR	Conifer Holding	Pair Corr
0.75	AX	Axos Financial	Pair Corr
0.61	SIGI	Selective Insurance	Pair Corr
0.53	DHIL	Diamond Hill Investment	Pair Corr

Related Correlations Analysis

	TRV	CB	CINF	WRB	ALL	RLI	WTM	WRB-PE	KNSL
TRV		0.91	0.4	0.77	0.76	-0.27	-0.23	-0.31	-0.06	TRV
CB	0.91		0.57	0.69	0.86	0.0	-0.12	-0.22	0.07	CB
CINF	0.4	0.57		0.18	0.48	0.64	0.21	0.45	0.31	CINF
WRB	0.77	0.69	0.18		0.71	-0.27	-0.32	-0.31	0.08	WRB
ALL	0.76	0.86	0.48	0.71		0.07	0.04	-0.19	0.19	ALL
RLI	-0.27	0.0	0.64	-0.27	0.07		0.46	0.71	0.55	RLI
WTM	-0.23	-0.12	0.21	-0.32	0.04	0.46		0.46	0.58	WTM
WRB-PE	-0.31	-0.22	0.45	-0.31	-0.19	0.71	0.46		0.48	WRB-PE
KNSL	-0.06	0.07	0.31	0.08	0.19	0.55	0.58	0.48		KNSL
	TRV	CB	CINF	WRB	ALL	RLI	WTM	WRB-PE	KNSL

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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

CB	+ 0.91	TRV
ALL	+ 0.86	CB
WRB	+ 0.77	TRV
ALL	+ 0.76	TRV
ALL	+ 0.71	WRB
WRB-PE	+ 0.71	RLI

High negative correlations

WTM	- 0.32	WRB
WRB-PE	- 0.31	WRB
WRB-PE	- 0.31	TRV
RLI	- 0.27	WRB
RLI	- 0.27	TRV
WTM	- 0.23	TRV

Risk-Adjusted Indicators

There is a big difference between Progressive Stock performing well and Progressive Corp 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 Progressive Corp'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
TRV	1.06	0.15	0.12	0.16	1.29	(1.16)	2.38	(1.97)	5.76
CB	1.01	0.13	0.14	0.33	1.10	(1.06)	2.22	(1.85)	5.98
CINF	1.17	0.00	0.00	(0.07)	0.00	0.00	2.63	(2.95)	6.94
WRB	1.03	0.08	0.11	(1.02)	1.31	(1.01)	2.20	(2.28)	5.88
ALL	1.30	0.09	0.10	(0.69)	1.54	(1.40)	2.72	(2.37)	8.73
RLI	1.07	(0.13)	0.00	(0.36)	0.00	0.00	1.83	(2.00)	9.92
WTM	1.04	(0.08)	0.00	0.53	0.00	0.00	2.45	(2.18)	6.59
WRB-PE	0.56	(0.12)	0.00	(0.61)	0.00	0.00	1.17	(1.25)	4.30
KNSL	1.36	(0.09)	0.00	(0.22)	0.00	0.00	2.74	(2.92)	13.82

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