Correlation Analysis Between Progressive and EMC Insurance

This module allows you to analyze existing cross correlation between Progressive Corporation and EMC Insurance Group. You can compare the effects of market volatilities on Progressive and EMC Insurance 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 EMC Insurance. See also your portfolio center. Please also check ongoing floating volatility patterns of Progressive and EMC Insurance.
Horizon     30 Days    Login   to change
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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 ongoing stock price agitation, may contribute to short term losses for the management.
EMC Insurance Group  
77

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in EMC Insurance Group are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. Despite nearly stable fundamental indicators, EMC Insurance is not utilizing all of its potentials. The ongoing stock price disturbance, may contribute to mid-run losses for the stockholder.

Progressive and EMC Insurance Volatility Contrast

 Predicted Return Density 
      Returns 

Progressive Corp.  vs.  EMC Insurance Group Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Progressive Corporation is expected to under-perform the EMC Insurance. In addition to that, Progressive is 8.01 times more volatile than EMC Insurance Group. It trades about -0.05 of its total potential returns per unit of risk. EMC Insurance Group is currently generating about 0.11 per unit of volatility. If you would invest  3,597  in EMC Insurance Group on July 23, 2019 and sell it today you would earn a total of  33.00  from holding EMC Insurance Group or generate 0.92% return on investment over 30 days.

Pair Corralation between Progressive and EMC Insurance

-0.34
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Progressive and EMC Insurance

Progressive Corp. diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Progressive Corp. and EMC Insurance Group Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on EMC Insurance Group 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 EMC Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EMC Insurance Group has no effect on the direction of Progressive i.e. Progressive and EMC Insurance go up and down completely randomly.
See also your portfolio center. Please also try Transaction History module to view history of all your transactions and understand their impact on performance.


 
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