Argo Group Correlations
| ARGD Stock | USD 24.99 0.01 0.04% |
The current 90-days correlation between Argo Group 65 and Brighthouse Financial is 0.02 (i.e., Significant diversification). The correlation of Argo Group 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.
Argo Group Correlation With Market
Significant diversification
The correlation between Argo Group 65 and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Argo Group 65 and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Argo Stock
| 0.86 | CDA | Canuc Resources Corp | PairCorr |
| 0.66 | SD | SandRidge Energy | PairCorr |
| 0.61 | JGH | Jade Gas Holdings | PairCorr |
| 0.82 | SDE | Spartan Delta Corp | PairCorr |
| 0.87 | EFXT | Enerflex | PairCorr |
| 0.81 | OBE | Obsidian Energy | PairCorr |
| 0.85 | EONR | EON Resources | PairCorr |
| 0.9 | PSK | PrairieSky Royalty | PairCorr |
| 0.96 | RG8 | Regal Asian Investments | PairCorr |
Moving against Argo Stock
| 0.85 | EPSN | Epsilon Energy | PairCorr |
| 0.84 | VIVK | Vivakor | PairCorr |
| 0.8 | VIST | Vista Oil Gas Sell-off Trend | PairCorr |
| 0.62 | EP | Empire Petroleum Corp | PairCorr |
| 0.46 | PR | Permian Resources | PairCorr |
| 0.45 | SM | SM Energy | PairCorr |
| 0.43 | CLON | Clontarf Energy Plc | PairCorr |
| 0.36 | DMLP | Dorchester Minerals | PairCorr |
| 0.92 | CRT | Cross Timbers Royalty | PairCorr |
| 0.62 | EOG | EOG Resources | PairCorr |
| 0.46 | EW | East West Petroleum Split | PairCorr |
| 0.45 | DEC | Diversified Energy | PairCorr |
Related Correlations Analysis
| 0.06 | 0.19 | 0.12 | 0.14 | BHFAL | ||
| 0.06 | 0.92 | 0.93 | 0.95 | AFGB | ||
| 0.19 | 0.92 | 0.93 | 0.89 | CMSC | ||
| 0.12 | 0.93 | 0.93 | 0.89 | AEFC | ||
| 0.14 | 0.95 | 0.89 | 0.89 | RZB | ||
Risk-Adjusted Indicators
There is a big difference between Argo Stock performing well and Argo Group 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 Argo Group'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BHFAL | 0.81 | (0.14) | 0.00 | (0.56) | 0.00 | 1.63 | 6.93 | |||
| AFGB | 0.41 | 0.09 | 0.15 | 2.45 | 0.23 | 1.01 | 2.68 | |||
| CMSC | 0.33 | 0.08 | 0.18 | 0.49 | 0.00 | 1.05 | 1.97 | |||
| AEFC | 0.49 | 0.03 | 0.03 | 0.10 | 0.51 | 1.40 | 3.03 | |||
| RZB | 0.15 | 0.01 | (0.05) | (0.35) | 0.00 | 0.29 | 0.98 |
Argo Group Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Argo Group stock to make a market-neutral strategy. Peer analysis of Argo Group could also be used in its relative valuation, which is a method of valuing Argo Group by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |