Root Correlations

ROOT Stock

USD 150.80 1.54 1.01%

The current 90-days correlation between Root Inc and Horace Mann Educators is 0.31 (i.e., Weak diversification). The correlation of Root 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.

Root Correlation With Market

Modest diversification

The correlation between Root Inc and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Root Inc 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 Root Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Root Stock

0.81	HCI	HCI Group	Pair Corr
0.8	HIG	Hartford Financial	Pair Corr
0.65	HMN	Horace Mann Educators	Pair Corr
0.72	MKL	Markel	Pair Corr
0.81	ORI	Old Republic Interna	Pair Corr
0.9	PGR	Progressive Corp	Pair Corr
0.88	THG	Hanover Insurance	Pair Corr
0.68	TRV	The Travelers Companies	Pair Corr
0.83	WRB	W R Berkley	Pair Corr
0.88	PLMR	Palomar Holdings	Pair Corr

Moving against Root Stock

0.72	AFG	American Financial	Pair Corr
0.54	RLI	RLI Corp	Pair Corr
0.44	MCY	Mercury General	Pair Corr
0.31	AIZ	Assurant	Pair Corr
0.7	SIGI	Selective Insurance Normal Trading	Pair Corr
0.67	NODK	NI Holdings	Pair Corr
0.65	SAFT	Safety Insurance	Pair Corr
0.43	ACIC	American Coastal Ins	Pair Corr
0.42	WTM	White Mountains Insurance	Pair Corr

Related Correlations Analysis

	SIGI	DGICB	HMN	GBLI	PRA	KMPR	RLI	ARGO-PA	HRTG	UVE
SIGI		0.01	-0.32	0.15	0.61	-0.08	0.65	-0.66	0.15	0.02	SIGI
DGICB	0.01		0.06	-0.2	0.21	-0.07	0.07	0.23	0.01	0.31	DGICB
HMN	-0.32	0.06		-0.13	0.23	0.63	0.09	0.43	0.56	0.77	HMN
GBLI	0.15	-0.2	-0.13		0.05	-0.08	0.11	-0.28	0.26	-0.2	GBLI
PRA	0.61	0.21	0.23	0.05		0.17	0.77	-0.4	0.39	0.59	PRA
KMPR	-0.08	-0.07	0.63	-0.08	0.17		0.05	0.22	0.42	0.42	KMPR
RLI	0.65	0.07	0.09	0.11	0.77	0.05		-0.7	0.42	0.33	RLI
ARGO-PA	-0.66	0.23	0.43	-0.28	-0.4	0.22	-0.7		-0.05	0.31	ARGO-PA
HRTG	0.15	0.01	0.56	0.26	0.39	0.42	0.42	-0.05		0.6	HRTG
UVE	0.02	0.31	0.77	-0.2	0.59	0.42	0.33	0.31	0.6		UVE
	SIGI	DGICB	HMN	GBLI	PRA	KMPR	RLI	ARGO-PA	HRTG	UVE

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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

UVE	+ 0.77	HMN
RLI	+ 0.77	PRA
RLI	+ 0.65	SIGI
KMPR	+ 0.63	HMN
PRA	+ 0.61	SIGI
UVE	+ 0.6	HRTG

High negative correlations

ARGO-PA	- 0.7	RLI
ARGO-PA	- 0.66	SIGI
ARGO-PA	- 0.4	PRA
HMN	- 0.32	SIGI
ARGO-PA	- 0.28	GBLI
UVE	- 0.2	GBLI

Risk-Adjusted Indicators

There is a big difference between Root Stock performing well and Root 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 Root'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
SIGI	1.37	(0.07)	0.00	(0.26)	0.00	0.00	2.62	(2.27)	15.02
DGICB	2.16	0.23	0.07	0.54	2.61	(3.17)	4.71	(5.55)	17.15
HMN	1.27	0.11	0.06	0.04	1.88	(1.14)	2.19	(3.10)	9.56
GBLI	1.31	(0.02)	0.06	(0.05)	1.58	(1.83)	3.99	(2.92)	9.43
PRA	1.51	(0.12)	0.00	0.29	0.00	0.00	2.56	(2.98)	17.29
KMPR	1.34	0.09	0.05	0.00	1.73	(1.27)	2.63	(2.66)	7.37
RLI	1.10	(0.10)	0.00	(0.32)	0.00	0.00	1.83	(2.00)	9.92
ARGO-PA	0.12	0.03	0.84	1.26	0.00	(0.16)	0.25	(0.16)	0.65
HRTG	2.24	0.25	0.08	0.15	2.97	(2.28)	4.50	(5.44)	13.56
UVE	1.28	0.07	0.07	0.05	1.56	(1.35)	2.40	(2.73)	12.00

Root Corporate Management

Tom Kuhn	Director Communications	Profile
Jason Shapiro	Senior Development	Profile
Michele Streitmatter	Chief Officer	Profile
Jonathan Allison	Chairman Counsel	Profile
Robert Bateman	Chief Officer	Profile
Daniel Manges	CoFounder Advisor	Profile

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