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.
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

  0.67ALL Allstate Sell-off TrendPairCorr
  0.75RLI RLI CorpPairCorr
  0.65STC Stewart Information Normal TradingPairCorr
  0.76WTM White Mountains InsurancePairCorr
  0.69KMPR KemperPairCorr
  0.79SIGI Selective InsurancePairCorr

Moving against CNA Stock

  0.45KG KING PHARMACEUTICALS INC Symbol ChangePairCorr
  0.37DGICB Donegal Group B Normal TradingPairCorr

Related Correlations Analysis

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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   
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GBLIKMPR
RLISIGI
PRADGICB
HMNKMPR
ARGO-PADGICB
  
High negative correlations   
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PRAGBLI
PRAKMPR
DGICBKMPR
RLIDGICB
RLIARGO-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.