Hagerty Correlations

HGTY Stock

USD 8.66 0.47 5.15%

The current 90-days correlation between Hagerty and Selective Insurance Group is 0.34 (i.e., Weak diversification). The correlation of Hagerty 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.

Hagerty Correlation With Market

Poor diversification

The correlation between Hagerty and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hagerty and DJI in the same portfolio, assuming nothing else is changed.

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Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hagerty. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy Hagerty Stock please use our How to Invest in Hagerty guide.

Moving together with Hagerty Stock

0.74	MKL	Markel Earnings Call Shortly	Pair Corr
0.68	GBLI	Global Indemnity PLC	Pair Corr
0.64	WTM	White Mountains Insurance	Pair Corr
0.73	KMPR	Kemper Earnings Call Shortly	Pair Corr
0.78	LMND	Lemonade Earnings Call Shortly	Pair Corr
0.8	NODK	NI Holdings	Pair Corr
0.8	ALL-PB	Allstate Earnings Call Shortly	Pair Corr
0.84	ALL-PI	Allstate Earnings Call Shortly	Pair Corr
0.82	ALL-PH	Allstate Earnings Call Shortly	Pair Corr
0.83	ACIC	American Coastal Ins	Pair Corr
0.83	WRB-PH	WR Berkley	Pair Corr
0.83	WRB-PG	WR Berkley	Pair Corr

Moving against Hagerty Stock

0.85	PRA	ProAssurance	Pair Corr
0.82	HCI	HCI Group	Pair Corr
0.82	HRTG	Heritage Insurance Hldgs	Pair Corr
0.81	BOW	Bowhead Specialty	Pair Corr
0.76	WRB	W R Berkley	Pair Corr
0.71	UVE	Universal Insurance	Pair Corr
0.55	CB	Chubb	Pair Corr
0.37	KNSL	Kinsale Capital Group	Pair Corr
0.32	TRV	The Travelers Companies	Pair Corr
0.84	DGICB	Donegal Group B	Pair Corr
0.76	PLMR	Palomar Holdings Earnings Call Shortly	Pair Corr
0.7	DGICA	Donegal Group A	Pair Corr
0.54	DB	Deutsche Bank AG Earnings Call Shortly	Pair Corr
0.47	SKWD	Skyward Specialty	Pair Corr
0.4	SIGI	Selective Insurance	Pair Corr
0.38	UFCS	United Fire Group	Pair Corr
0.37	ARGO-PA	Argo Group International	Pair Corr

Related Correlations Analysis

	SIGI	KMPR	DGICB	ARGO-PA	GBLI	NODK	HMN	DGICA	SIGIP	UFCS
SIGI		-0.03	0.37	0.33	-0.07	-0.2	0.11	0.33	0.35	0.4	SIGI
KMPR	-0.03		-0.59	0.06	0.91	0.8	0.24	-0.3	0.59	0.15	KMPR
DGICB	0.37	-0.59		0.48	-0.67	-0.74	0.37	0.8	0.0	0.49	DGICB
ARGO-PA	0.33	0.06	0.48		-0.02	-0.4	0.65	0.82	0.7	0.91	ARGO-PA
GBLI	-0.07	0.91	-0.67	-0.02		0.8	0.08	-0.41	0.55	0.03	GBLI
NODK	-0.2	0.8	-0.74	-0.4	0.8		-0.23	-0.69	0.21	-0.33	NODK
HMN	0.11	0.24	0.37	0.65	0.08	-0.23		0.7	0.5	0.78	HMN
DGICA	0.33	-0.3	0.8	0.82	-0.41	-0.69	0.7		0.4	0.85	DGICA
SIGIP	0.35	0.59	0.0	0.7	0.55	0.21	0.5	0.4		0.72	SIGIP
UFCS	0.4	0.15	0.49	0.91	0.03	-0.33	0.78	0.85	0.72		UFCS
	SIGI	KMPR	DGICB	ARGO-PA	GBLI	NODK	HMN	DGICA	SIGIP	UFCS

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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

GBLI	+ 0.91	KMPR
UFCS	+ 0.91	ARGO-PA
UFCS	+ 0.85	DGICA
DGICA	+ 0.82	ARGO-PA
NODK	+ 0.8	KMPR
DGICA	+ 0.8	DGICB

High negative correlations

NODK	- 0.74	DGICB
DGICA	- 0.69	NODK
GBLI	- 0.67	DGICB
DGICB	- 0.59	KMPR
DGICA	- 0.41	GBLI
NODK	- 0.4	ARGO-PA

Risk-Adjusted Indicators

There is a big difference between Hagerty Stock performing well and Hagerty 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 Hagerty'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	1.59	(0.01)	0.00	(0.15)	0.00	0.00	3.07	(3.11)	15.02
KMPR	1.63	0.01	0.00	(0.13)	0.00	0.00	3.28	(2.98)	14.62
DGICB	2.41	0.43	0.15	2.29	2.48	(3.47)	7.14	(4.36)	19.58
ARGO-PA	0.12	0.02	0.76	0.14	0.10	(0.14)	0.28	(0.28)	0.84
GBLI	1.55	(0.22)	0.00	(0.94)	0.00	0.00	3.43	(3.74)	13.26
NODK	1.21	(0.14)	0.00	(0.45)	0.00	0.00	2.74	(2.76)	9.93
HMN	1.32	0.22	0.16	0.26	1.63	(1.32)	2.34	(2.78)	9.56
DGICA	1.35	0.52	0.38	1.24	1.23	(1.69)	3.89	(1.99)	8.88
SIGIP	0.88	0.00	0.00	(0.15)	0.00	0.00	2.08	(1.82)	4.81
UFCS	1.50	0.24	0.12	0.18	2.00	(1.47)	3.44	(2.79)	11.67

Hagerty Corporate Management

Diana Chafey	Chief Secretary	Profile
Daniel Ignoto	VP Partnerships	Profile
John Butcher	Pres Markets	Profile
Collette Champagne	Chief Officer	Profile
Chuck Favour	Chief Officer	Profile
Paul BA	Marketing Media	Profile
McKeel Hagerty	CEO Director	Profile

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