Radian Correlations

RDN Stock

USD 35.70 1.10 2.99%

The current 90-days correlation between Radian Group and Haemonetics is -0.2 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Radian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Radian Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Radian Correlation With Market

Very poor diversification

The correlation between Radian Group and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Radian Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Radian Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Radian Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Radian Stock

0.97	ESNT	Essent Group	Pair Corr
0.79	ACT	Enact Holdings	Pair Corr
0.74	AXS	AXIS Capital Holdings	Pair Corr
0.95	MTG	MGIC Investment Corp	Pair Corr
0.74	JRVR	James River Group	Pair Corr
0.95	NMIH	NMI Holdings	Pair Corr
0.9	TRUP	Trupanion	Pair Corr
0.92	C	Citigroup Earnings Call This Week	Pair Corr
0.86	L	Loews Corp	Pair Corr
0.61	V	Visa Class A	Pair Corr
0.86	DHIL	Diamond Hill Investment	Pair Corr
0.79	AB	AllianceBernstein	Pair Corr
0.76	AC	Associated Capital	Pair Corr
0.91	AX	Axos Financial	Pair Corr
0.87	BK	Bank of New York Earnings Call This Week	Pair Corr
0.89	BN	Brookfield Corp	Pair Corr
0.85	BX	Blackstone Group	Pair Corr
0.68	BY	Byline Bancorp	Pair Corr
0.92	CG	Carlyle Group Normal Trading	Pair Corr
0.85	CM	Canadian Imperial Bank Sell-off Trend	Pair Corr
0.82	DB	Deutsche Bank AG	Pair Corr
0.93	GS	Goldman Sachs Group	Pair Corr

Moving against Radian Stock

0.7	AMSF	AMERISAFE	Pair Corr
0.47	FNF	Fidelity National	Pair Corr
0.53	PT	Pintec Technology	Pair Corr
0.51	FG	FG Annuities Life	Pair Corr
0.31	WD	Walker Dunlop	Pair Corr

Related Correlations Analysis

	FDUS	HAE	MITN	VRTS	INFU	RBC	WEYS
FDUS		0.87	0.8	0.91	0.81	0.85	0.73	FDUS
HAE	0.87		0.81	0.94	0.89	0.92	0.81	HAE
MITN	0.8	0.81		0.79	0.67	0.85	0.78	MITN
VRTS	0.91	0.94	0.79		0.85	0.9	0.86	VRTS
INFU	0.81	0.89	0.67	0.85		0.9	0.73	INFU
RBC	0.85	0.92	0.85	0.9	0.9		0.88	RBC
WEYS	0.73	0.81	0.78	0.86	0.73	0.88		WEYS
	FDUS	HAE	MITN	VRTS	INFU	RBC	WEYS

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Risk-Adjusted Indicators

There is a big difference between Radian Stock performing well and Radian 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 Radian'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
FDUS	1.28	(0.01)	(0.01)	0.08	2.14	(1.22)	2.26	(2.37)	12.78
HAE	1.55	0.32	0.11	(1.57)	1.61	(1.76)	2.99	(2.88)	11.79
MITN	0.34	0.02	(0.09)	0.32	0.54	(0.36)	0.64	(0.52)	2.64
VRTS	1.87	0.11	0.05	0.18	2.54	(1.84)	4.36	(3.87)	16.27
INFU	2.30	0.22	0.07	0.41	2.57	(2.66)	5.63	(4.13)	21.88
RBC	1.40	0.15	0.08	0.23	1.50	(1.50)	2.44	(2.52)	13.18
WEYS	2.08	0.07	0.03	0.14	2.90	(2.22)	4.57	(4.70)	18.07

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