Reinsurance Group Correlations

RGA Stock

USD 191.86 0.28 0.15%

The current 90-days correlation between Reinsurance Group and Renaissancere Holdings is 0.35 (i.e., Weak diversification). The correlation of Reinsurance Group 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.

Reinsurance Group Correlation With Market

Very weak diversification

The correlation between Reinsurance Group of and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Reinsurance Group of 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 Reinsurance Group of. 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.

Moving together with Reinsurance Stock

0.65	BNT	Brookfield Wealth Symbol Change	Pair Corr
0.63	AX	Axos Financial	Pair Corr
0.65	BN	Brookfield Corp	Pair Corr
0.84	BX	Blackstone Group	Pair Corr
0.86	CG	Carlyle Group	Pair Corr
0.73	CM	Canadian Imperial Bank	Pair Corr
0.86	KB	KB Financial Group	Pair Corr
0.69	LC	LendingClub Corp	Pair Corr

Moving against Reinsurance Stock

0.56	CB	Chubb	Pair Corr
0.5	SPNT-PB	SiriusPoint	Pair Corr
0.4	HG	Hamilton Insurance Group,	Pair Corr
0.37	V	Visa Class A	Pair Corr
0.35	AHL-PE	Aspen Insurance Holdings	Pair Corr
0.33	AHL-PF	Aspen Insurance Holdings	Pair Corr
0.78	LU	Lufax Holding	Pair Corr
0.63	DB	Deutsche Bank AG	Pair Corr
0.6	LX	Lexinfintech Holdings	Pair Corr
0.53	WF	Woori Financial Group	Pair Corr
0.53	WU	Western Union	Pair Corr
0.52	TW	Tradeweb Markets	Pair Corr
0.42	TD	Toronto Dominion Bank	Pair Corr
0.37	PT	Pintec Technology	Pair Corr
0.36	GL	Globe Life	Pair Corr

Related Correlations Analysis

	MHLD	GLRE	RNR-PG	RNR	SPNT	SCRYY	BNRE	RE	OXBR
MHLD		0.58	0.37	0.63	0.15	-0.78	0.0	0.0	0.08	MHLD
GLRE	0.58		0.42	0.73	0.37	-0.48	0.0	0.0	-0.17	GLRE
RNR-PG	0.37	0.42		0.26	0.16	-0.27	0.0	0.0	-0.03	RNR-PG
RNR	0.63	0.73	0.26		0.36	-0.37	0.0	0.0	-0.19	RNR
SPNT	0.15	0.37	0.16	0.36		0.17	0.0	0.0	-0.52	SPNT
SCRYY	-0.78	-0.48	-0.27	-0.37	0.17		0.0	0.0	-0.3	SCRYY
BNRE	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	BNRE
RE	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	RE
OXBR	0.08	-0.17	-0.03	-0.19	-0.52	-0.3	0.0	0.0		OXBR
	MHLD	GLRE	RNR-PG	RNR	SPNT	SCRYY	BNRE	RE	OXBR

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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

RNR	+ 0.73	GLRE
RNR	+ 0.63	MHLD
GLRE	+ 0.58	MHLD
RNR-PG	+ 0.42	GLRE
RNR-PG	+ 0.37	MHLD
SPNT	+ 0.37	GLRE

High negative correlations

SCRYY	- 0.78	MHLD
OXBR	- 0.52	SPNT
SCRYY	- 0.48	GLRE
SCRYY	- 0.37	RNR
OXBR	- 0.3	SCRYY
SCRYY	- 0.27	RNR-PG

Risk-Adjusted Indicators

There is a big difference between Reinsurance Stock performing well and Reinsurance Group 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 Reinsurance Group'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
MHLD	5.52	(0.58)	0.00	(0.46)	0.00	0.00	9.09	(10.00)	53.37
GLRE	1.22	(0.11)	0.00	(0.24)	0.00	0.00	2.41	(2.69)	6.11
RNR-PG	0.76	(0.09)	0.00	(0.37)	0.00	0.00	1.54	(1.61)	5.09
RNR	1.26	(0.14)	0.00	(0.30)	0.00	0.00	2.35	(2.44)	11.37
SPNT	1.73	0.08	0.05	0.08	2.16	(1.73)	2.39	(3.57)	19.39
SCRYY	2.42	0.25	0.09	2.89	2.80	(2.92)	5.69	(5.09)	16.03
BNRE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OXBR	4.87	(0.66)	0.00	(0.67)	0.00	0.00	9.34	(8.95)	39.58

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