Palomar Holdings Correlations

PLMR Stock

USD 129.32 1.40 1.07%

The current 90-days correlation between Palomar Holdings and Horace Mann Educators is 0.46 (i.e., Very weak diversification). The correlation of Palomar 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Palomar Holdings Correlation With Market

Weak diversification

The correlation between Palomar Holdings and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Palomar Holdings 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 Palomar 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 population.

To learn how to invest in Palomar Stock, please use our How to Invest in Palomar Holdings guide.

Moving together with Palomar Stock

0.7	CB	Chubb	Pair Corr
0.65	ALL	Allstate	Pair Corr
0.77	HCI	HCI Group	Pair Corr
0.78	HMN	Horace Mann Educators	Pair Corr
0.95	PGR	Progressive Corp	Pair Corr
0.87	THG	Hanover Insurance	Pair Corr
0.78	TRV	The Travelers Companies	Pair Corr
0.68	UVE	Universal Insurance	Pair Corr
0.88	WRB	W R Berkley	Pair Corr
0.69	SIGIP	Selective Insurance	Pair Corr
0.75	ALL-PJ	Allstate	Pair Corr
0.9	ROOT	Root Inc Normal Trading	Pair Corr

Moving against Palomar Stock

0.73	AFG	American Financial	Pair Corr
0.36	RLI	RLI Corp	Pair Corr
0.61	NODK	NI Holdings	Pair Corr
0.56	SAFT	Safety Insurance	Pair Corr
0.53	WTM	White Mountains Insurance	Pair Corr
0.74	CNFR	Conifer Holding	Pair Corr
0.68	AX	Axos Financial	Pair Corr
0.54	SIGI	Selective Insurance	Pair Corr
0.44	DHIL	Diamond Hill Investment	Pair Corr

Related Correlations Analysis

	HMN	KMPR	RLI	GBLI	ARGO-PA	SIGI	STC	ARGO	DGICB	PRA
HMN		0.63	0.0	-0.07	0.56	-0.39	0.8	0.0	0.12	0.27	HMN
KMPR	0.63		-0.05	-0.03	0.36	-0.16	0.46	0.0	0.02	0.25	KMPR
RLI	0.0	-0.05		0.1	-0.65	0.6	0.39	0.0	0.11	0.35	RLI
GBLI	-0.07	-0.03	0.1		-0.19	0.16	0.0	0.0	-0.08	0.12	GBLI
ARGO-PA	0.56	0.36	-0.65	-0.19		-0.58	0.27	0.0	0.25	0.06	ARGO-PA
SIGI	-0.39	-0.16	0.6	0.16	-0.58		-0.07	0.0	0.1	0.33	SIGI
STC	0.8	0.46	0.39	0.0	0.27	-0.07		0.0	0.12	0.43	STC
ARGO	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	ARGO
DGICB	0.12	0.02	0.11	-0.08	0.25	0.1	0.12	0.0		0.15	DGICB
PRA	0.27	0.25	0.35	0.12	0.06	0.33	0.43	0.0	0.15		PRA
	HMN	KMPR	RLI	GBLI	ARGO-PA	SIGI	STC	ARGO	DGICB	PRA

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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

STC	+ 0.8	HMN
KMPR	+ 0.63	HMN
SIGI	+ 0.6	RLI
ARGO-PA	+ 0.56	HMN
STC	+ 0.46	KMPR
PRA	+ 0.43	STC

High negative correlations

ARGO-PA	- 0.65	RLI
SIGI	- 0.58	ARGO-PA
SIGI	- 0.39	HMN
ARGO-PA	- 0.19	GBLI
SIGI	- 0.16	KMPR
DGICB	- 0.08	GBLI

Risk-Adjusted Indicators

There is a big difference between Palomar Stock performing well and Palomar 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 Palomar 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
HMN	1.26	0.09	0.05	0.03	1.84	(1.16)	2.19	(3.10)	9.56
KMPR	1.29	0.07	0.04	0.00	1.71	(1.20)	2.63	(2.58)	7.37
RLI	1.07	(0.13)	0.00	(0.36)	0.00	0.00	1.83	(2.00)	9.92
GBLI	1.31	0.00	0.05	(0.08)	1.59	(1.85)	3.99	(2.92)	9.43
ARGO-PA	0.12	0.03	0.70	1.10	0.00	(0.16)	0.25	(0.16)	0.65
SIGI	1.37	(0.07)	0.00	(0.22)	0.00	0.00	2.62	(2.27)	15.02
STC	1.37	0.01	0.00	(0.06)	0.00	0.00	2.91	(2.46)	6.07
ARGO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DGICB	2.18	0.04	0.03	(0.22)	2.70	(3.21)	4.71	(5.55)	17.15
PRA	2.38	0.70	0.33	0.68	1.58	(3.07)	2.91	(2.98)	17.29

Palomar Holdings Corporate Management

McDonald Armstrong	CEO Founder	Profile
Robert Beyerle	Chief Officer	Profile
John MacDonald	Senior Marketing	Profile
Mark Brose	Chief Officer	Profile
Tim Carter	Chief Officer	Profile
Toshio CPA	Chief Officer	Profile
Jon Christianson	President	Profile

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