CNA Financial Correlations

CNA Stock

USD 45.80 0.11 0.24%

The current 90-days correlation between CNA Financial and RLI Corp is 0.86 (i.e., Very poor diversification). The correlation of CNA Financial 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.

CNA Financial Correlation With Market

Poor diversification

The correlation between CNA Financial and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CNA Financial and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with CNA Stock

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

For information on how to trade CNA Stock refer to our How to Trade CNA Stock guide.

Moving together with CNA Stock

0.67	ALL	Allstate Sell-off Trend	Pair Corr
0.75	RLI	RLI Corp	Pair Corr
0.65	STC	Stewart Information Normal Trading	Pair Corr
0.76	WTM	White Mountains Insurance	Pair Corr
0.69	KMPR	Kemper	Pair Corr
0.79	SIGI	Selective Insurance	Pair Corr

Moving against CNA Stock

0.45	KG	KING PHARMACEUTICALS INC Symbol Change	Pair Corr
0.37	DGICB	Donegal Group B Normal Trading	Pair Corr

Related Correlations Analysis

	SIGI	KMPR	DGICB	ARGO-PA	GBLI	HMN	PRA	RLI	ARGO
SIGI		0.33	0.03	0.17	0.06	0.4	0.37	0.71	0.0	SIGI
KMPR	0.33		-0.35	0.4	0.73	0.56	-0.39	0.31	0.0	KMPR
DGICB	0.03	-0.35		0.55	-0.7	0.29	0.6	-0.26	0.0	DGICB
ARGO-PA	0.17	0.4	0.55		-0.07	0.76	0.14	-0.14	0.0	ARGO-PA
GBLI	0.06	0.73	-0.7	-0.07		0.09	-0.57	0.41	0.0	GBLI
HMN	0.4	0.56	0.29	0.76	0.09		0.26	0.22	0.0	HMN
PRA	0.37	-0.39	0.6	0.14	-0.57	0.26		0.15	0.0	PRA
RLI	0.71	0.31	-0.26	-0.14	0.41	0.22	0.15		0.0	RLI
ARGO	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		ARGO
	SIGI	KMPR	DGICB	ARGO-PA	GBLI	HMN	PRA	RLI	ARGO

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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

HMN	+ 0.76	ARGO-PA
GBLI	+ 0.73	KMPR
RLI	+ 0.71	SIGI
PRA	+ 0.6	DGICB
HMN	+ 0.56	KMPR
ARGO-PA	+ 0.55	DGICB

High negative correlations

GBLI	- 0.7	DGICB
PRA	- 0.57	GBLI
PRA	- 0.39	KMPR
DGICB	- 0.35	KMPR
RLI	- 0.26	DGICB
RLI	- 0.14	ARGO-PA

Risk-Adjusted Indicators

There is a big difference between CNA Stock performing well and CNA Financial 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 CNA Financial'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
SIGI	1.22	0.01	0.00	0.02	1.92	(1.18)	2.75	(2.09)	9.75
KMPR	1.57	(0.10)	0.00	(0.09)	0.00	0.00	3.29	(2.80)	14.05
DGICB	2.47	0.44	0.11	2.38	2.48	(3.83)	7.14	(5.64)	20.18
ARGO-PA	0.12	0.01	0.03	0.23	0.06	(0.14)	0.32	(0.29)	0.78
GBLI	1.35	(0.09)	0.00	(0.30)	0.00	0.00	3.71	(3.74)	11.19
HMN	1.18	0.04	0.03	0.08	1.40	(1.23)	2.34	(2.34)	6.15
PRA	1.50	0.74	1.52	7.60	0.00	(2.26)	0.69	(0.79)	49.47
RLI	1.12	(0.05)	0.00	(0.08)	0.00	0.00	1.74	(2.98)	8.37
ARGO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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