AXIS Capital Correlations

AXS Stock

USD 97.11 0.11 0.11%

The current 90-days correlation between AXIS Capital Holdings and Enact Holdings is 0.58 (i.e., Very weak diversification). The correlation of AXIS Capital 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.

AXIS Capital Correlation With Market

Very weak diversification

The correlation between AXIS Capital Holdings and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AXIS Capital Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AXIS Stock

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

Moving together with AXIS Stock

0.68	ESNT	Essent Group	Pair Corr
0.75	MTG	MGIC Investment Corp	Pair Corr
0.71	JRVR	James River Group	Pair Corr
0.75	NMIH	NMI Holdings	Pair Corr
0.76	V	Visa Class A	Pair Corr
0.68	AC	Associated Capital	Pair Corr
0.67	CB	Chubb Earnings Call This Week	Pair Corr
0.79	HG	Hamilton Insurance Group,	Pair Corr

Moving against AXIS Stock

0.51	FNF	Fidelity National Normal Trading	Pair Corr
0.43	AMSF	AMERISAFE Earnings Call This Week	Pair Corr
0.36	AXS-PE	AXIS Capital Holdings	Pair Corr
0.35	FG	FG Annuities Life	Pair Corr
0.74	RM	Regional Management Corp	Pair Corr
0.64	PT	Pintec Technology	Pair Corr

Related Correlations Analysis

	ACGL	ACT	AFG	AGO	AIZ	AMBC	AMSF	EG	RNR	WRB
ACGL		-0.11	-0.19	0.15	0.49	0.35	0.56	0.58	0.63	0.56	ACGL
ACT	-0.11		0.05	0.54	0.12	0.0	-0.43	-0.16	0.19	0.35	ACT
AFG	-0.19	0.05		-0.12	-0.55	0.17	0.28	0.38	-0.32	-0.44	AFG
AGO	0.15	0.54	-0.12		0.4	0.24	-0.16	0.08	0.33	0.47	AGO
AIZ	0.49	0.12	-0.55	0.4		-0.18	-0.19	-0.05	0.57	0.74	AIZ
AMBC	0.35	0.0	0.17	0.24	-0.18		0.43	0.3	0.12	0.06	AMBC
AMSF	0.56	-0.43	0.28	-0.16	-0.19	0.43		0.73	-0.05	-0.21	AMSF
EG	0.58	-0.16	0.38	0.08	-0.05	0.3	0.73		0.17	0.07	EG
RNR	0.63	0.19	-0.32	0.33	0.57	0.12	-0.05	0.17		0.7	RNR
WRB	0.56	0.35	-0.44	0.47	0.74	0.06	-0.21	0.07	0.7		WRB
	ACGL	ACT	AFG	AGO	AIZ	AMBC	AMSF	EG	RNR	WRB

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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

WRB	+ 0.74	AIZ
EG	+ 0.73	AMSF
WRB	+ 0.7	RNR
RNR	+ 0.63	ACGL
EG	+ 0.58	ACGL
RNR	+ 0.57	AIZ

High negative correlations

AIZ	- 0.55	AFG
WRB	- 0.44	AFG
AMSF	- 0.43	ACT
RNR	- 0.32	AFG
WRB	- 0.21	AMSF
AMSF	- 0.19	AIZ

Risk-Adjusted Indicators

There is a big difference between AXIS Stock performing well and AXIS Capital 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 AXIS Capital'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
ACGL	1.19	(0.18)	0.00	(0.09)	0.00	0.00	2.96	(2.79)	6.93
ACT	1.16	(0.13)	0.00	(0.03)	0.00	0.00	2.16	(2.31)	5.34
AFG	1.09	(0.09)	(0.08)	0.01	1.61	(1.05)	1.95	(2.05)	9.40
AGO	0.90	0.08	(0.07)	(0.21)	1.06	(0.99)	1.64	(1.70)	5.88
AIZ	1.22	0.01	(0.08)	0.05	1.67	(1.13)	2.76	(2.97)	7.25
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
EG	1.08	(0.19)	0.00	(0.09)	0.00	0.00	2.33	(2.01)	10.15
RNR	1.26	(0.09)	0.00	(0.03)	0.00	0.00	2.39	(2.27)	8.71
WRB	0.97	(0.09)	(0.11)	0.00	1.16	(1.04)	1.94	(2.01)	8.11

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