ProAssurance Correlations

PRA Stock

USD 16.73 0.23 1.39%

The current 90-days correlation between ProAssurance and Horace Mann Educators is 0.61 (i.e., Poor diversification). The correlation of ProAssurance 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.

ProAssurance Correlation With Market

Poor diversification

The correlation between ProAssurance and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProAssurance 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 ProAssurance. 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.

For information on how to trade ProAssurance Stock refer to our How to Trade ProAssurance Stock guide.

Moving together with ProAssurance Stock

0.67	L	Loews Corp	Pair Corr
0.75	FRFHF	Fairfax Financial	Pair Corr
0.62	AFG	American Financial	Pair Corr
0.75	AIZ	Assurant	Pair Corr
0.72	ALL	Allstate	Pair Corr
0.67	BOW	Bowhead Specialty	Pair Corr
0.75	HCI	HCI Group	Pair Corr
0.91	HMN	Horace Mann Educators	Pair Corr
0.91	MCY	Mercury General	Pair Corr
0.75	MKL	Markel	Pair Corr
0.78	ORI	Old Republic Interna Fiscal Year End 23rd of January 2025	Pair Corr
0.9	RLI	RLI Corp Fiscal Year End 22nd of January 2025	Pair Corr
0.88	THG	Hanover Insurance	Pair Corr
0.8	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.64	WRB	W R Berkley Normal Trading	Pair Corr
0.79	WTM	White Mountains Insurance	Pair Corr
0.79	TKOMY	Tokio Marine Holdings	Pair Corr
0.72	KINS	Kingstone Companies	Pair Corr
0.78	KMPR	Kemper	Pair Corr
0.69	LMND	Lemonade	Pair Corr
0.73	NODK	NI Holdings	Pair Corr
0.74	ALL-PB	Allstate	Pair Corr

Moving against ProAssurance Stock

0.46	FACO	First Acceptance Corp	Pair Corr
0.36	CNA	CNA Financial	Pair Corr
0.61	HRTG	Heritage Insurance Hldgs	Pair Corr
0.61	ALL-PI	Allstate	Pair Corr
0.6	TILCF	Till Capital	Pair Corr
0.46	ALL-PH	Allstate	Pair Corr
0.63	WRB-PG	WR Berkley	Pair Corr
0.36	WRB-PH	WR Berkley	Pair Corr

Related Correlations Analysis

	ARGO-PA	HMN	KMPR	SIGI	DGICB	GBLI	RLI
ARGO-PA		0.82	0.69	0.74	0.77	0.34	0.8	ARGO-PA
HMN	0.82		0.88	0.85	0.82	0.31	0.92	HMN
KMPR	0.69	0.88		0.75	0.7	0.24	0.93	KMPR
SIGI	0.74	0.85	0.75		0.72	0.36	0.91	SIGI
DGICB	0.77	0.82	0.7	0.72		0.34	0.78	DGICB
GBLI	0.34	0.31	0.24	0.36	0.34		0.33	GBLI
RLI	0.8	0.92	0.93	0.91	0.78	0.33		RLI
	ARGO-PA	HMN	KMPR	SIGI	DGICB	GBLI	RLI

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Risk-Adjusted Indicators

There is a big difference between ProAssurance Stock performing well and ProAssurance 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 ProAssurance'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
ARGO-PA	0.24	0.03	(0.24)	(0.50)	0.27	(0.25)	0.60	(0.48)	1.78
HMN	1.32	0.17	0.12	0.26	1.34	(1.45)	2.13	(2.23)	11.51
KMPR	1.04	0.24	0.09	(4.42)	1.07	(1.14)	2.28	(1.57)	5.66
SIGI	1.18	0.07	0.07	0.17	1.17	(1.30)	2.20	(1.82)	8.59
DGICB	2.27	0.49	0.08	(0.55)	2.36	(3.39)	7.61	(4.52)	14.48
GBLI	0.98	0.17	0.06	0.60	0.97	(1.30)	2.91	(1.97)	7.14
RLI	0.85	0.15	0.11	0.26	1.17	(0.95)	1.76	(1.82)	7.01

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