Aflac Incorporated Correlations

AFL Stock

USD 104.57 1.05 1.01%

The current 90-days correlation between Aflac Incorporated and Old Dominion Freight is 0.42 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Aflac Incorporated moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aflac Incorporated moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Aflac Incorporated Correlation With Market

Poor diversification

The correlation between Aflac Incorporated and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aflac Incorporated and DJI in the same portfolio, assuming nothing else is changed.

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

For more information on how to buy Aflac Stock please use our How to buy in Aflac Stock guide.

Moving together with Aflac Stock

0.82	GL	Globe Life	Pair Corr
0.72	CIA	Citizens	Pair Corr
0.77	CNO	CNO Financial Group	Pair Corr

Moving against Aflac Stock

0.41	ANG-PB	American National	Pair Corr
0.34	BHFAN	Brighthouse Financial	Pair Corr
0.33	LNC-PD	Lincoln National	Pair Corr
0.32	BHFAO	Brighthouse Financial	Pair Corr
0.32	BHFAM	Brighthouse Financial	Pair Corr
0.44	KB	KB Financial Group	Pair Corr
0.43	KG	KING PHARMACEUTICALS INC Symbol Change	Pair Corr
0.41	CM	Canadian Imperial Bank	Pair Corr
0.31	BK	Bank of New York	Pair Corr

Related Correlations Analysis

	SMTC	SWKS	MTSI	ODFL	NXST	NDCVF	UMC
SMTC		0.96	0.95	0.7	0.86	0.88	0.91	SMTC
SWKS	0.96		0.95	0.71	0.82	0.81	0.94	SWKS
MTSI	0.95	0.95		0.58	0.75	0.85	0.95	MTSI
ODFL	0.7	0.71	0.58		0.85	0.49	0.59	ODFL
NXST	0.86	0.82	0.75	0.85		0.78	0.75	NXST
NDCVF	0.88	0.81	0.85	0.49	0.78		0.81	NDCVF
UMC	0.91	0.94	0.95	0.59	0.75	0.81		UMC
	SMTC	SWKS	MTSI	ODFL	NXST	NDCVF	UMC

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Risk-Adjusted Indicators

There is a big difference between Aflac Stock performing well and Aflac Incorporated Company 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 Aflac Incorporated's 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
SMTC	3.29	0.29	0.07	0.23	5.07	(3.30)	8.98	(7.24)	25.87
SWKS	2.17	0.17	0.07	0.18	3.44	(2.13)	4.86	(7.01)	33.17
MTSI	2.04	0.39	0.14	0.32	2.58	(2.07)	5.25	(2.72)	28.49
ODFL	2.09	(0.05)	0.00	0.07	2.73	(2.26)	3.99	(3.44)	19.21
NXST	1.73	(0.07)	(0.02)	0.05	2.72	(1.65)	3.12	(3.42)	11.88
NDCVF	1.67	0.30	0.02	(1.12)	2.76	(3.72)	5.76	(3.90)	15.47
UMC	1.73	0.15	0.07	0.26	1.77	(2.04)	4.85	(3.30)	13.89

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