Correlation Analysis Between Progressive and Allstate

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

Comparative Performance


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 ongoing stock price agitation, may contribute to short term losses for the management.

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Allstate Corporation are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Even with considerably steady technical indicators, Allstate is not utilizing all of its potentials. The ongoing stock price chaos, may contribute to medium term losses for the stakeholders.

Progressive and Allstate Volatility Contrast

 Predicted Return Density 

Progressive Corp.  vs.  Allstate Corp.

 Performance (%) 

Pair Volatility

Considering 30-days investment horizon, Progressive Corporation is expected to under-perform the Allstate. In addition to that, Progressive is 1.08 times more volatile than Allstate Corporation. It trades about -0.05 of its total potential returns per unit of risk. Allstate Corporation is currently generating about 0.03 per unit of volatility. If you would invest  10,219  in Allstate Corporation on July 22, 2019 and sell it today you would earn a total of  170.00  from holding Allstate Corporation or generate 1.66% return on investment over 30 days.

Pair Corralation between Progressive and Allstate

Time Period2 Months [change]
StrengthVery Weak
ValuesDaily Returns

Diversification Opportunities for Progressive and Allstate

Progressive Corp. diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Progressive Corp. and Allstate Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Allstate 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 Allstate. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Allstate has no effect on the direction of Progressive i.e. Progressive and Allstate go up and down completely randomly.
See also your portfolio center. Please also try Pattern Recognition module to use different pattern recognition models to time the market across multiple global exchanges.