Radian Correlations

RDN Stock

USD 31.37 0.54 1.69%

The current 90-days correlation between Radian Group and Essent Group is 0.88 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Radian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Radian Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Radian Correlation With Market

Poor diversification

The correlation between Radian Group and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Radian Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Radian Stock

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

Moving together with Radian Stock

0.91	ESNT	Essent Group	Pair Corr
0.73	AGO	Assured Guaranty	Pair Corr
0.66	AIZ	Assurant	Pair Corr
0.91	MTG	MGIC Investment Corp Earnings Call Shortly	Pair Corr
0.86	NMIH	NMI Holdings Earnings Call Shortly	Pair Corr
0.65	AX	Axos Financial Earnings Call Shortly	Pair Corr
0.68	BN	Brookfield Corp	Pair Corr
0.69	BX	Blackstone Group	Pair Corr
0.7	CG	Carlyle Group Earnings Call Shortly	Pair Corr

Moving against Radian Stock

0.34

Deutsche Bank AG Earnings Call Shortly

Pair Corr

Related Correlations Analysis

	ESNT	NMIH	MBI	JRVR	AMBC	AGO	MTG	EIG	ICCH
ESNT		0.85	0.5	0.58	0.62	0.8	0.91	0.51	0.41	ESNT
NMIH	0.85		0.59	0.55	0.72	0.83	0.75	0.44	0.3	NMIH
MBI	0.5	0.59		0.69	0.95	0.84	0.46	0.2	0.58	MBI
JRVR	0.58	0.55	0.69		0.76	0.74	0.68	0.02	0.44	JRVR
AMBC	0.62	0.72	0.95	0.76		0.91	0.58	0.2	0.57	AMBC
AGO	0.8	0.83	0.84	0.74	0.91		0.76	0.4	0.62	AGO
MTG	0.91	0.75	0.46	0.68	0.58	0.76		0.32	0.41	MTG
EIG	0.51	0.44	0.2	0.02	0.2	0.4	0.32		0.3	EIG
ICCH	0.41	0.3	0.58	0.44	0.57	0.62	0.41	0.3		ICCH
	ESNT	NMIH	MBI	JRVR	AMBC	AGO	MTG	EIG	ICCH

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Risk-Adjusted Indicators

There is a big difference between Radian Stock performing well and Radian 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 Radian'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
ESNT	1.20	0.06	0.00	(0.06)	0.00	0.00	2.07	(2.97)	7.27
NMIH	1.29	(0.06)	0.00	(0.22)	0.00	0.00	2.32	(3.07)	9.49
MBI	2.98	(0.13)	0.00	(0.29)	0.00	0.00	6.38	(5.27)	28.95
JRVR	2.22	0.06	0.00	(0.07)	0.00	0.00	4.86	(3.50)	30.96
AMBC	2.27	(0.34)	0.00	(0.48)	0.00	0.00	3.10	(6.63)	12.95
AGO	1.43	0.05	0.00	(0.09)	0.00	0.00	2.80	(3.41)	10.52
MTG	1.44	0.13	0.07	(0.01)	1.86	(1.59)	3.15	(2.85)	9.36
EIG	1.01	0.06	0.07	(0.02)	1.79	(0.90)	1.99	(2.33)	9.61
ICCH	0.42	0.02	0.22	3.40	0.55	(0.58)	1.18	(0.64)	4.57

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