EMPLOYERS HLDGS Correlations

YGB Stock

EUR 48.80 0.40 0.83%

The current 90-days correlation between EMPLOYERS HLDGS DL and Assured Guaranty is 0.01 (i.e., Significant diversification). The correlation of EMPLOYERS HLDGS 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.

EMPLOYERS HLDGS Correlation With Market

Significant diversification

The correlation between EMPLOYERS HLDGS DL and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EMPLOYERS HLDGS DL and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to EMPLOYERS HLDGS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EMPLOYERS HLDGS when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back EMPLOYERS HLDGS - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling EMPLOYERS HLDGS DL to buy it.

Moving together with EMPLOYERS Stock

0.67	Y1F	First American Financial	Pair Corr
0.78	DHU	Assured Guaranty	Pair Corr
0.89	ADH2	Air Canada	Pair Corr
0.81	OYC	Delta Air Lines	Pair Corr
0.63	XGH	ENN Energy Holdings	Pair Corr
0.64	NTT	Nippon Telegraph	Pair Corr
0.75	MBY	Middleby	Pair Corr
0.86	ERT	ELECTRONIC ARTS	Pair Corr
0.61	CNJ	Canon Marketing Japan	Pair Corr
0.87	CZH	Choice Hotels Intern	Pair Corr
0.67	TDK	TDK Corporation	Pair Corr

Moving against EMPLOYERS Stock

0.71	CXT	Carmat SA	Pair Corr
0.57	MTO	METTLER TOLEDO INTL	Pair Corr
0.51	MTO	METTLER TOLEDO INTL	Pair Corr
0.49	MTO	Mitie Group PLC	Pair Corr
0.43	27J	Impinj Inc	Pair Corr
0.42	3GU	nib holdings limited	Pair Corr
0.41	27J	Impinj Inc	Pair Corr
0.33	QPA1	Trisura Group	Pair Corr

Related Correlations Analysis

	CMAB	Y1F	DHU	3GU	TPW	LNH	QPA1	YGB
CMAB		-0.01	0.21	-0.1	-0.07	-0.09	-0.38	0.18	CMAB
Y1F	-0.01		0.59	-0.12	0.75	0.4	0.14	0.67	Y1F
DHU	0.21	0.59		-0.56	0.29	0.59	-0.56	0.78	DHU
3GU	-0.1	-0.12	-0.56		0.01	-0.64	0.71	-0.42	3GU
TPW	-0.07	0.75	0.29	0.01		0.29	0.37	0.41	TPW
LNH	-0.09	0.4	0.59	-0.64	0.29		-0.36	0.56	LNH
QPA1	-0.38	0.14	-0.56	0.71	0.37	-0.36		-0.33	QPA1
YGB	0.18	0.67	0.78	-0.42	0.41	0.56	-0.33		YGB
	CMAB	Y1F	DHU	3GU	TPW	LNH	QPA1	YGB

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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

YGB	+ 0.78	DHU
TPW	+ 0.75	Y1F
QPA1	+ 0.71	3GU
YGB	+ 0.67	Y1F
DHU	+ 0.59	Y1F
LNH	+ 0.59	DHU

High negative correlations

LNH	- 0.64	3GU
QPA1	- 0.56	DHU
3GU	- 0.56	DHU
YGB	- 0.42	3GU
QPA1	- 0.38	CMAB
QPA1	- 0.36	LNH

Risk-Adjusted Indicators

There is a big difference between EMPLOYERS Stock performing well and EMPLOYERS HLDGS 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 EMPLOYERS HLDGS'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
CMAB	1.09	0.18	0.12	22.88	1.06	(1.35)	2.86	(1.98)	6.75
Y1F	1.23	0.08	0.03	4.78	1.36	(1.54)	2.65	(2.57)	6.83
DHU	2.42	0.28	0.08	(0.33)	2.72	(2.86)	6.10	(4.62)	15.30
3GU	1.59	(0.15)	0.00	1.70	0.00	0.00	3.16	(3.03)	18.55
TPW	2.40	0.18	0.05	(1.40)	2.98	(2.32)	4.73	(5.18)	13.64
LNH	1.72	0.18	0.08	(0.38)	1.89	(1.90)	4.10	(2.93)	12.97
QPA1	1.47	(0.26)	0.00	(0.84)	0.00	0.00	2.78	(3.12)	8.69
YGB	1.09	0.18	0.10	2.30	1.08	(1.48)	2.00	(2.12)	12.50

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Our tools can tell you how much better you can do entering a position in EMPLOYERS HLDGS without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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