AXIS Capital Correlations
| AXS Stock | USD 103.19 0.58 0.56% |
The current 90-days correlation between AXIS Capital Holdings and Assured Guaranty is 0.85 (i.e., Very poor 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
Poor diversification
The correlation between AXIS Capital Holdings and DJI is 0.74 (i.e., Poor 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.
Moving together with AXIS Stock
| 0.88 | ESNT | Essent Group | PairCorr |
| 0.9 | MTG | MGIC Investment Corp | PairCorr |
| 0.87 | RDN | Radian Group Normal Trading | PairCorr |
| 0.8 | JRVR | James River Group | PairCorr |
| 0.9 | NMIH | NMI Holdings | PairCorr |
| 0.89 | C | Citigroup Aggressive Push | PairCorr |
| 0.78 | L | Loews Corp | PairCorr |
| 0.89 | V | Visa Class A | PairCorr |
| 0.61 | DHIL | Diamond Hill Investment | PairCorr |
| 0.86 | AB | AllianceBernstein | PairCorr |
| 0.85 | AC | Associated Capital | PairCorr |
| 0.87 | AX | Axos Financial | PairCorr |
| 0.9 | BK | Bank of New York | PairCorr |
| 0.89 | BN | Brookfield Corp | PairCorr |
| 0.81 | CG | Carlyle Group | PairCorr |
| 0.81 | CM | Canadian Imperial Bank | PairCorr |
| 0.88 | DB | Deutsche Bank AG | PairCorr |
| 0.87 | GS | Goldman Sachs Group | PairCorr |
| 0.78 | HG | Hamilton Insurance Group, | PairCorr |
Moving against AXIS Stock
| 0.49 | FNF | Fidelity National | PairCorr |
| 0.45 | AMSF | AMERISAFE | PairCorr |
| 0.54 | PT | Pintec Technology | PairCorr |
| 0.49 | FG | FG Annuities Life | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AGO | 1.19 | 0.00 | 0.00 | 0.02 | 1.83 | 2.81 | 10.50 | |||
| ACT | 1.30 | 0.14 | 0.08 | 0.25 | 1.59 | 2.37 | 7.53 | |||
| NMIH | 1.40 | 0.24 | 0.11 | 0.30 | 1.75 | 3.13 | 10.13 | |||
| RDN | 1.36 | 0.20 | 0.10 | 0.25 | 1.69 | 2.71 | 9.48 | |||
| AMSF | 1.15 | (0.21) | 0.00 | (0.53) | 0.00 | 1.67 | 8.39 | |||
| MBI | 2.95 | (0.33) | 0.00 | (0.27) | 0.00 | 6.38 | 21.39 | |||
| ICCH | 0.42 | 0.02 | (0.01) | (0.15) | 0.55 | 1.18 | 4.57 | |||
| AMBC | 2.73 | (0.26) | 0.00 | (0.20) | 0.00 | 4.01 | 29.37 | |||
| EIG | 1.06 | (0.08) | 0.00 | (0.12) | 0.00 | 2.42 | 7.86 |