Correlation Analysis Between Principal Financial and FBL Financial

This module allows you to analyze existing cross correlation between Principal Financial Group and FBL Financial Group. You can compare the effects of market volatilities on Principal Financial and FBL Financial and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Principal Financial with a short position of FBL Financial. See also your portfolio center. Please also check ongoing floating volatility patterns of Principal Financial and FBL Financial.
Horizon     30 Days    Login   to change
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Comparative Performance

Principal Financial  
00

Risk-Adjusted Performance

Over the last 30 days Principal Financial Group has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest unsteady performance, the Stock's fundamental drivers remain sound and the ongoing tumult on Wall Street may also be a sign of longer-term gains for the firm shareholders.
FBL Financial Group  
00

Risk-Adjusted Performance

Over the last 30 days FBL Financial Group has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unsteady performance in the last few months, the Stock's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the firm shareholders.

Principal Financial and FBL Financial Volatility Contrast

 Predicted Return Density 
      Returns 

Principal Financial Group Inc  vs.  FBL Financial Group Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Principal Financial Group is expected to generate 1.09 times more return on investment than FBL Financial. However, Principal Financial is 1.09 times more volatile than FBL Financial Group. It trades about -0.09 of its potential returns per unit of risk. FBL Financial Group is currently generating about -0.14 per unit of risk. If you would invest  5,643  in Principal Financial Group on July 25, 2019 and sell it today you would lose (412.00)  from holding Principal Financial Group or give up 7.3% of portfolio value over 30 days.

Pair Corralation between Principal Financial and FBL Financial

0.93
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Principal Financial and FBL Financial

Principal Financial Group Inc diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Principal Financial Group Inc and FBL Financial Group Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on FBL Financial Group and Principal Financial is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Principal Financial Group are associated (or correlated) with FBL Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FBL Financial Group has no effect on the direction of Principal Financial i.e. Principal Financial and FBL Financial go up and down completely randomly.
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