Radian Correlations

RDN Stock

USD 32.35 0.10 0.31%

The current 90-days correlation between Radian Group and Essent Group is 0.77 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Radian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Radian Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Radian Correlation With Market

Very weak diversification

The correlation between Radian Group 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 Radian Group 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 Radian Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Radian Stock

0.91	ACT	Enact Holdings	Pair Corr
0.72	AGO	Assured Guaranty	Pair Corr
0.63	EIG	Employers Holdings Normal Trading	Pair Corr
0.84	FAF	First American	Pair Corr
0.89	FNF	Fidelity National Normal Trading	Pair Corr
0.95	MTG	MGIC Investment Corp	Pair Corr
0.7	HIPO	Hippo Holdings	Pair Corr
0.74	AXS-PE	AXIS Capital Holdings	Pair Corr
0.62	ITIC	Investors Title	Pair Corr
0.9	NMIH	NMI Holdings	Pair Corr
0.81	RYAN	Ryan Specialty Group Sell-off Trend	Pair Corr
0.69	AMSF	AMERISAFE	Pair Corr
0.71	TIPT	Tiptree Earnings Call Today	Pair Corr
0.74	L	Loews Corp	Pair Corr
0.62	DHIL	Diamond Hill Investment Earnings Call Today	Pair Corr
0.73	AX	Axos Financial	Pair Corr
0.69	BN	Brookfield Corp	Pair Corr
0.72	BX	Blackstone Group	Pair Corr
0.76	BY	Byline Bancorp	Pair Corr
0.72	CB	Chubb	Pair Corr
0.81	FG	FG Annuities Life	Pair Corr

Related Correlations Analysis

	ESNT	NMIH	MBI	JRVR	AMBC	AGO	MTG	EIG	ICCH
ESNT		0.42	0.32	0.29	-0.39	0.85	0.71	-0.15	-0.33	ESNT
NMIH	0.42		-0.02	-0.23	0.45	0.59	0.82	0.68	0.06	NMIH
MBI	0.32	-0.02		0.0	0.02	0.4	0.38	0.01	-0.5	MBI
JRVR	0.29	-0.23	0.0		-0.51	0.24	-0.09	-0.55	-0.16	JRVR
AMBC	-0.39	0.45	0.02	-0.51		-0.1	0.23	0.86	0.14	AMBC
AGO	0.85	0.59	0.4	0.24	-0.1		0.83	0.14	-0.38	AGO
MTG	0.71	0.82	0.38	-0.09	0.23	0.83		0.47	-0.29	MTG
EIG	-0.15	0.68	0.01	-0.55	0.86	0.14	0.47		0.04	EIG
ICCH	-0.33	0.06	-0.5	-0.16	0.14	-0.38	-0.29	0.04		ICCH
	ESNT	NMIH	MBI	JRVR	AMBC	AGO	MTG	EIG	ICCH

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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

EIG	+ 0.86	AMBC
AGO	+ 0.85	ESNT
MTG	+ 0.83	AGO
MTG	+ 0.82	NMIH
MTG	+ 0.71	ESNT
EIG	+ 0.68	NMIH

High negative correlations

EIG	- 0.55	JRVR
AMBC	- 0.51	JRVR
ICCH	- 0.5	MBI
AMBC	- 0.39	ESNT
ICCH	- 0.38	AGO
ICCH	- 0.33	ESNT

Risk-Adjusted Indicators

There is a big difference between Radian Stock performing well and Radian 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 Radian'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
ESNT	0.90	0.02	0.02	0.04	1.25	(0.91)	1.89	(2.51)	5.89
NMIH	1.10	(0.07)	0.00	(0.07)	0.00	0.00	2.32	(3.52)	8.05
MBI	2.56	0.19	0.05	0.77	3.57	(2.36)	5.91	(5.28)	19.98
JRVR	1.43	0.11	0.06	0.20	1.72	(1.65)	3.34	(3.40)	11.08
AMBC	1.27	(0.06)	0.00	(0.10)	0.00	0.00	2.15	(2.21)	12.75
AGO	0.93	0.00	0.00	0.00	1.29	(0.91)	1.91	(2.00)	5.58
MTG	1.03	(0.04)	0.00	(0.04)	0.00	0.00	2.13	(2.44)	6.96
EIG	0.85	(0.07)	0.00	(0.12)	0.00	0.00	1.76	(2.11)	4.69
ICCH	0.39	(0.06)	0.00	3.38	0.00	0.00	0.65	(0.72)	4.57

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