Universal Insurance Correlations

UVE Stock

USD 22.72 0.78 3.56%

The current 90-days correlation between Universal Insurance and HCI Group is 0.05 (i.e., Significant diversification). The correlation of Universal Insurance 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.

Universal Insurance Correlation With Market

Modest diversification

The correlation between Universal Insurance Holdings and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Universal Insurance Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Universal Insurance 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 real.

Moving together with Universal Stock

0.84	CB	Chubb	Pair Corr
0.83	ALL	Allstate	Pair Corr
0.75	BOW	Bowhead Specialty	Pair Corr
0.67	HCI	HCI Group	Pair Corr
0.81	HMN	Horace Mann Educators	Pair Corr
0.71	PGR	Progressive Corp	Pair Corr
0.84	STC	Stewart Information	Pair Corr
0.8	THG	Hanover Insurance	Pair Corr
0.79	TRV	The Travelers Companies	Pair Corr
0.76	WRB	W R Berkley	Pair Corr
0.7	HRTG	Heritage Insurance Hldgs	Pair Corr
0.72	SIGIP	Selective Insurance	Pair Corr
0.67	ALL-PJ	Allstate	Pair Corr
0.75	PLMR	Palomar Holdings Normal Trading	Pair Corr
0.67	ROOT	Root Inc	Pair Corr
0.79	SKWD	Skyward Specialty Normal Trading	Pair Corr

Moving against Universal Stock

0.4	AFG	American Financial	Pair Corr
0.4	NODK	NI Holdings	Pair Corr
0.72	CG	Carlyle Group Normal Trading	Pair Corr
0.7	BX	Blackstone Group	Pair Corr
0.67	CM	Canadian Imperial Bank	Pair Corr
0.63	CNFR	Conifer Holding Earnings Call This Week	Pair Corr
0.61	AX	Axos Financial	Pair Corr
0.57	BN	Brookfield Corp	Pair Corr
0.55	WRB-PF	WR Berkley	Pair Corr
0.48	BY	Byline Bancorp	Pair Corr

Related Correlations Analysis

	HCI	KINS	HMN	HRTG	DGICB	NODK	FNHCQ	CNFR	DGICA
HCI		-0.13	0.66	0.55	0.46	-0.73	0.0	-0.84	0.84	HCI
KINS	-0.13		0.25	-0.05	-0.36	0.05	0.0	0.05	-0.17	KINS
HMN	0.66	0.25		0.63	0.29	-0.56	0.0	-0.68	0.82	HMN
HRTG	0.55	-0.05	0.63		0.38	-0.32	0.0	-0.77	0.66	HRTG
DGICB	0.46	-0.36	0.29	0.38		-0.2	0.0	-0.43	0.56	DGICB
NODK	-0.73	0.05	-0.56	-0.32	-0.2		0.0	0.72	-0.63	NODK
FNHCQ	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	FNHCQ
CNFR	-0.84	0.05	-0.68	-0.77	-0.43	0.72	0.0		-0.78	CNFR
DGICA	0.84	-0.17	0.82	0.66	0.56	-0.63	0.0	-0.78		DGICA
	HCI	KINS	HMN	HRTG	DGICB	NODK	FNHCQ	CNFR	DGICA

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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

DGICA	+ 0.84	HCI
DGICA	+ 0.82	HMN
CNFR	+ 0.72	NODK
HMN	+ 0.66	HCI
DGICA	+ 0.66	HRTG
HRTG	+ 0.63	HMN

High negative correlations

CNFR	- 0.84	HCI
DGICA	- 0.78	CNFR
CNFR	- 0.77	HRTG
NODK	- 0.73	HCI
CNFR	- 0.68	HMN
DGICA	- 0.63	NODK

Risk-Adjusted Indicators

There is a big difference between Universal Stock performing well and Universal Insurance 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 Universal Insurance'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
HCI	1.48	0.35	0.20	(0.59)	1.53	(1.67)	3.62	(2.90)	10.37
KINS	3.60	0.12	0.03	0.87	4.56	(3.74)	6.71	(7.04)	28.69
HMN	1.18	0.15	0.09	0.17	1.61	(1.18)	2.19	(2.81)	9.56
HRTG	2.17	0.32	0.11	0.35	2.63	(2.30)	5.13	(4.31)	16.28
DGICB	2.43	0.13	0.03	0.54	2.81	(3.63)	5.68	(5.65)	19.58
NODK	1.12	(0.17)	0.00	(0.20)	0.00	0.00	2.11	(2.23)	9.93
FNHCQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CNFR	2.64	(0.78)	0.00	63.07	0.00	0.00	5.66	(6.67)	21.75
DGICA	1.11	0.28	0.26	1.68	0.82	(1.46)	2.44	(1.88)	6.12

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