Essent Correlations
| ESNT Stock | USD 62.76 0.23 0.37% |
The current 90-days correlation between Essent Group and Brookfield Office Properties is -0.08 (i.e., Good diversification). The correlation of Essent 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.
Essent Correlation With Market
Modest diversification
The correlation between Essent Group and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Essent Group and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Essent Stock
| 0.7 | AGM | Federal Agricultural | PairCorr |
| 0.82 | MTG | MGIC Investment Corp | PairCorr |
| 0.87 | RDN | Radian Group | PairCorr |
Moving against Essent Stock
| 0.72 | ALE | Allete Inc | PairCorr |
| 0.71 | ANKOF | Angkor Resources Corp Earnings Call This Week | PairCorr |
| 0.71 | EOSE | Eos Energy Enterprises Aggressive Push | PairCorr |
| 0.64 | BLNK | Blink Charging | PairCorr |
| 0.62 | HYMTF | Hyundai Motor | PairCorr |
| 0.59 | BETR | Better Home Finance | PairCorr |
| 0.57 | SWZNF | Schweizerische Nationalbank | PairCorr |
| 0.53 | TTDKF | TDK Corporation | PairCorr |
| 0.33 | 01609WAV4 | ALIBABA GROUP HLDG | PairCorr |
| 0.33 | AU | AngloGold Ashanti plc | PairCorr |
| 0.75 | TSAT | Telesat Corp | PairCorr |
| 0.73 | VYNE | Vyne Therapeutics | PairCorr |
| 0.68 | CLSK | CleanSpark Trending | PairCorr |
| 0.56 | ALIUSD | Aluminum Futures | PairCorr |
| 0.54 | WK | Workiva | PairCorr |
| 0.52 | GLAXF | GSK plc | PairCorr |
| 0.5 | CSUAY | China Shenhua Energy | PairCorr |
| 0.48 | KZR | Kezar Life Sciences | PairCorr |
| 0.41 | TSMWF | Taiwan Semiconductor | PairCorr |
Related Correlations Analysis
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Essent Stock performing well and Essent 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 Essent'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BRKFF | 0.06 | 0.02 | 0.00 | 8.85 | 0.00 | 0.00 | 2.06 | |||
| SLTTF | 0.30 | (0.12) | 0.00 | (1.66) | 0.00 | 0.00 | 10.11 | |||
| BCCI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| WFWRF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| COFE | 1.49 | (0.76) | 0.00 | 5.44 | 0.00 | 0.00 | 50.00 | |||
| JVA | 2.41 | (0.24) | 0.00 | (0.05) | 0.00 | 6.49 | 15.30 | |||
| WEST | 2.76 | (0.44) | 0.00 | (0.26) | 0.00 | 8.01 | 17.16 | |||
| CIO-P-A | 0.21 | (0.01) | 0.00 | (0.53) | 0.00 | 0.40 | 1.82 |