Progressive Corp Correlations

PGR Stock

USD 246.41 0.86 0.35%

The current 90-days correlation between Progressive Corp and The Allstate is 0.83 (i.e., Very poor diversification). The correlation of Progressive Corp 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.

Progressive Corp Correlation With Market

Significant diversification

The correlation between Progressive Corp and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Progressive Corp and DJI in the same portfolio, assuming nothing else is changed.

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

To learn how to invest in Progressive Stock, please use our How to Invest in Progressive Corp guide.

Moving together with Progressive Stock

0.8	CB	Chubb Sell-off Trend	Pair Corr
0.75	ALL	Allstate Earnings Call This Week	Pair Corr
0.66	BOW	Bowhead Specialty	Pair Corr
0.91	CNA	CNA Financial Earnings Call This Week	Pair Corr
0.74	HCI	HCI Group	Pair Corr
0.72	RLI	RLI Corp	Pair Corr
0.65	TRV	The Travelers Companies	Pair Corr
0.73	PLMR	Palomar Holdings	Pair Corr
0.72	SAFT	Safety Insurance	Pair Corr
0.7	SKWD	Skyward Specialty	Pair Corr

Moving against Progressive Stock

0.68	ALL-PI	Allstate Earnings Call This Week	Pair Corr
0.62	ALL-PB	Allstate Earnings Call This Week	Pair Corr
0.57	PRA	ProAssurance	Pair Corr
0.56	LMND	Lemonade Earnings Call This Week	Pair Corr
0.43	MCY	Mercury General Earnings Call This Week	Pair Corr
0.43	KNSL	Kinsale Capital Group Earnings Call Tomorrow	Pair Corr
0.42	L	Loews Corp Earnings Call This Week	Pair Corr
0.42	MKL	Markel	Pair Corr
0.42	GBLI	Global Indemnity PLC	Pair Corr
0.33	SIGIP	Selective Insurance	Pair Corr
0.31	HGTY	Hagerty	Pair Corr
0.82	ALL-PJ	Allstate Earnings Call This Week	Pair Corr
0.79	WRB-PE	W R Berkley	Pair Corr
0.75	WRB-PH	WR Berkley	Pair Corr
0.74	ALL-PH	Allstate Earnings Call This Week	Pair Corr
0.71	WRB-PG	WR Berkley	Pair Corr
0.7	WRB-PF	WR Berkley	Pair Corr
0.63	CG	Carlyle Group Earnings Call This Week	Pair Corr
0.62	AX	Axos Financial Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ALL	CB	CINF	HIG	MKL	MMC	TRV	WRB
ALL		0.85	0.53	0.79	0.16	0.74	0.87	0.77	ALL
CB	0.85		0.23	0.6	-0.05	0.78	0.75	0.78	CB
CINF	0.53	0.23		0.78	0.8	-0.01	0.58	0.51	CINF
HIG	0.79	0.6	0.78		0.34	0.43	0.85	0.79	HIG
MKL	0.16	-0.05	0.8	0.34		-0.4	0.24	0.3	MKL
MMC	0.74	0.78	-0.01	0.43	-0.4		0.55	0.45	MMC
TRV	0.87	0.75	0.58	0.85	0.24	0.55		0.88	TRV
WRB	0.77	0.78	0.51	0.79	0.3	0.45	0.88		WRB
	ALL	CB	CINF	HIG	MKL	MMC	TRV	WRB

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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

WRB	+ 0.88	TRV
TRV	+ 0.87	ALL
CB	+ 0.85	ALL
TRV	+ 0.85	HIG
MKL	+ 0.8	CINF
HIG	+ 0.79	ALL

High negative correlations

MMC	- 0.4	MKL
MKL	- 0.05	CB
MMC	- 0.01	CINF

Risk-Adjusted Indicators

There is a big difference between Progressive Stock performing well and Progressive Corp 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 Progressive Corp'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
ALL	1.13	0.01	(0.09)	0.04	1.49	(1.14)	2.11	(2.61)	6.76
CB	0.93	(0.07)	0.00	15.10	0.00	0.00	1.61	(1.61)	7.09
CINF	1.06	0.03	0.03	0.17	1.26	(1.08)	2.50	(2.19)	6.52
HIG	0.99	(0.06)	(0.06)	0.07	1.21	(1.03)	1.76	(2.04)	6.88
MKL	0.88	0.20	0.05	(3.45)	0.92	(0.93)	2.05	(1.63)	6.35
MMC	0.94	(0.19)	0.00	(1.39)	0.00	0.00	1.56	(2.35)	6.77
TRV	1.02	0.14	(0.03)	(0.29)	1.16	(1.09)	2.64	(2.00)	8.32
WRB	0.97	0.00	(0.12)	0.14	1.16	(1.04)	1.94	(2.01)	8.11

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