Octave Specialty Correlations

OSG Stock

USD 6.10 0.19 3.02%

The current 90-days correlation between Octave Specialty and MBIA Inc is 0.2 (i.e., Modest diversification). The correlation of Octave Specialty 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.

Octave Specialty Correlation With Market

Pay attention - limited upside

The correlation between Octave Specialty Group and DJI is -0.73 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Octave Specialty Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Octave Stock

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

Moving together with Octave Stock

0.74	CCG	Cheche Group Class	Pair Corr
0.77	RYAN	Ryan Specialty Group	Pair Corr
0.72	AAPL	Apple Inc Earnings Call This Week	Pair Corr

Moving against Octave Stock

0.56	GOOG	Alphabet Class C	Pair Corr
0.9	TSM	Taiwan Semiconductor	Pair Corr
0.82	MFGCF	Mayfair Gold Corp	Pair Corr
0.81	AOS	Smith AO Earnings Call This Week	Pair Corr
0.8	FTHY	First Trust High	Pair Corr
0.79	DRXGF	Drax Group plc	Pair Corr
0.76	WFG	West Fraser Timber	Pair Corr
0.68	ARKAF	Arkema SA	Pair Corr
0.61	MAR	Marriott International	Pair Corr
0.56	WM	Waste Management	Pair Corr
0.5	BMYMP	Bristol Myers Squibb	Pair Corr
0.46	AS	Amer Sports	Pair Corr
0.43	E	Eni SpA ADR Earnings Call Today	Pair Corr
0.81	TX	Ternium SA ADR	Pair Corr
0.78	ECRFF	Cartier Resources	Pair Corr
0.78	ALRS	Alerus Financial Corp Earnings Call This Week	Pair Corr
0.68	ALMMF	Aluminumof China	Pair Corr

Related Correlations Analysis

	MBI	RM	GBLI	BSRR	TWFG	FRBA	GCBC	BRBS	VBNK	CWBC
MBI		-0.3	-0.63	-0.02	0.49	-0.1	0.4	0.22	-0.35	0.17	MBI
RM	-0.3		0.36	0.0	0.06	0.4	0.25	0.17	0.28	-0.04	RM
GBLI	-0.63	0.36		0.07	-0.56	0.16	-0.25	0.16	0.31	-0.12	GBLI
BSRR	-0.02	0.0	0.07		0.43	0.82	0.44	0.63	0.87	0.88	BSRR
TWFG	0.49	0.06	-0.56	0.43		0.35	0.42	0.16	0.32	0.53	TWFG
FRBA	-0.1	0.4	0.16	0.82	0.35		0.64	0.69	0.85	0.75	FRBA
GCBC	0.4	0.25	-0.25	0.44	0.42	0.64		0.67	0.26	0.66	GCBC
BRBS	0.22	0.17	0.16	0.63	0.16	0.69	0.67		0.42	0.69	BRBS
VBNK	-0.35	0.28	0.31	0.87	0.32	0.85	0.26	0.42		0.64	VBNK
CWBC	0.17	-0.04	-0.12	0.88	0.53	0.75	0.66	0.69	0.64		CWBC
	MBI	RM	GBLI	BSRR	TWFG	FRBA	GCBC	BRBS	VBNK	CWBC

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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

CWBC	+ 0.88	BSRR
VBNK	+ 0.87	BSRR
VBNK	+ 0.85	FRBA
FRBA	+ 0.82	BSRR
CWBC	+ 0.75	FRBA
BRBS	+ 0.69	FRBA

High negative correlations

GBLI	- 0.63	MBI
TWFG	- 0.56	GBLI
VBNK	- 0.35	MBI
RM	- 0.3	MBI
GCBC	- 0.25	GBLI
CWBC	- 0.12	GBLI

Risk-Adjusted Indicators

There is a big difference between Octave Stock performing well and Octave Specialty 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 Octave Specialty'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
MBI	1.79	(0.11)	0.00	(0.11)	0.00	0.00	4.61	(3.35)	16.36
RM	1.81	(0.21)	0.00	(0.05)	0.00	0.00	3.68	(3.78)	13.72
GBLI	1.01	(0.01)	(0.04)	0.04	1.10	(1.31)	2.91	(1.86)	5.97
BSRR	1.33	0.34	0.29	0.38	0.78	(1.85)	4.28	(1.69)	6.92
TWFG	1.57	0.01	(0.01)	0.10	1.92	(1.62)	3.42	(2.80)	9.54
FRBA	1.14	0.08	0.05	0.16	1.26	(1.32)	3.29	(1.82)	8.53
GCBC	1.70	(0.08)	(0.04)	(0.01)	1.79	(2.08)	4.59	(3.30)	10.25
BRBS	1.25	0.05	0.01	0.18	1.69	(1.31)	2.64	(2.75)	8.39
VBNK	1.20	0.36	0.27	0.39	0.80	(1.48)	2.90	(1.67)	12.37
CWBC	1.00	0.14	0.11	0.23	0.95	(1.22)	2.75	(2.00)	7.93

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