Enact Holdings Correlations

ACT Etf

USD 34.85 0.24 0.68%

The current 90-days correlation between Enact Holdings and Assured Guaranty is -0.21 (i.e., Very good diversification). The correlation of Enact Holdings 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Enact Holdings Correlation With Market

Very weak diversification

The correlation between Enact Holdings and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enact Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Enact Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Enact Holdings. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For more information on how to buy Enact Etf please use our How to Invest in Enact Holdings guide.

Moving together with Enact Etf

0.81	ESNT	Essent Group	Pair Corr
0.67	FAF	First American Earnings Call This Week	Pair Corr
0.72	MTG	MGIC Investment Corp	Pair Corr
0.72	RDN	Radian Group	Pair Corr

Moving against Enact Etf

0.43

AMSF

AMERISAFE Earnings Call This Week

Pair Corr

Related Correlations Analysis

	AMBC	AMSF	AGO	ESNT	MTG	JAZZ	PRGO	COR
AMBC		0.43	0.24	-0.23	-0.23	0.2	-0.13	-0.03	AMBC
AMSF	0.43		-0.16	-0.65	-0.73	-0.25	-0.68	-0.63	AMSF
AGO	0.24	-0.16		0.51	0.42	0.14	-0.03	0.06	AGO
ESNT	-0.23	-0.65	0.51		0.97	0.0	0.56	0.4	ESNT
MTG	-0.23	-0.73	0.42	0.97		0.04	0.68	0.47	MTG
JAZZ	0.2	-0.25	0.14	0.0	0.04		0.17	0.35	JAZZ
PRGO	-0.13	-0.68	-0.03	0.56	0.68	0.17		0.52	PRGO
COR	-0.03	-0.63	0.06	0.4	0.47	0.35	0.52		COR
	AMBC	AMSF	AGO	ESNT	MTG	JAZZ	PRGO	COR

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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

MTG	+ 0.97	ESNT
PRGO	+ 0.68	MTG
PRGO	+ 0.56	ESNT
COR	+ 0.52	PRGO
ESNT	+ 0.51	AGO
COR	+ 0.47	MTG

High negative correlations

MTG	- 0.73	AMSF
PRGO	- 0.68	AMSF
ESNT	- 0.65	AMSF
COR	- 0.63	AMSF
JAZZ	- 0.25	AMSF
MTG	- 0.23	AMBC

Enact Holdings Constituents Risk-Adjusted Indicators

There is a big difference between Enact Etf performing well and Enact Holdings ETF 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 Enact Holdings' 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
AMBC	2.61	0.37	0.08	0.46	3.95	(2.87)	4.95	(4.10)	29.37
AMSF	1.07	(0.18)	0.00	(0.22)	0.00	0.00	1.76	(1.84)	8.39
AGO	0.90	0.08	(0.07)	(0.21)	1.06	(0.99)	1.64	(1.70)	5.88
ESNT	1.03	(0.13)	(0.09)	0.00	1.45	(0.96)	1.93	(2.50)	6.44
MTG	1.17	(0.08)	(0.04)	0.06	1.53	(1.18)	2.42	(2.46)	7.29
JAZZ	1.63	0.02	0.02	0.15	2.39	(1.67)	3.37	(2.48)	13.35
PRGO	1.12	0.02	0.00	0.15	1.27	(1.23)	2.88	(2.20)	9.85
COR	0.96	0.02	(0.05)	0.25	1.55	(0.94)	2.12	(1.64)	11.57

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