Correlation Analysis Between Progressive and Atlas Financial

This module allows you to analyze existing cross correlation between Progressive Corporation and Atlas Financial Holdings. You can compare the effects of market volatilities on Progressive and Atlas 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 Progressive with a short position of Atlas Financial. See also your portfolio center. Please also check ongoing floating volatility patterns of Progressive and Atlas Financial.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Progressive  
00

Risk-Adjusted Performance

Over the last 30 days Progressive Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, Progressive is not utilizing all of its potentials. The new stock price agitation, may contribute to short term losses for the management.
Atlas Financial Hold  
00

Risk-Adjusted Performance

Over the last 30 days Atlas Financial Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. Despite sluggish performance in the last few months, the Stock's fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.

Progressive and Atlas Financial Volatility Contrast

 Predicted Return Density 
      Returns 

Progressive Corp.  vs.  Atlas Financial Holdings Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Progressive Corporation is expected to generate 0.29 times more return on investment than Atlas Financial. However, Progressive Corporation is 3.49 times less risky than Atlas Financial. It trades about -0.06 of its potential returns per unit of risk. Atlas Financial Holdings is currently generating about -0.3 per unit of risk. If you would invest  8,012  in Progressive Corporation on July 21, 2019 and sell it today you would lose (339.00)  from holding Progressive Corporation or give up 4.23% of portfolio value over 30 days.

Pair Corralation between Progressive and Atlas Financial

0.56
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Progressive and Atlas Financial

Progressive Corp. diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Progressive Corp. and Atlas Financial Holdings Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Atlas Financial Hold and Progressive 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 Progressive Corporation are associated (or correlated) with Atlas Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atlas Financial Hold has no effect on the direction of Progressive i.e. Progressive and Atlas Financial go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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