Progressive Corp Stock Market Value
| PGR Stock | USD 251.12 0.22 0.09% |
| Symbol | Progressive |
Progressive Corp Price To Book Ratio
Is Property & Casualty Insurance space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Progressive Corp. If investors know Progressive will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Progressive Corp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 1.1 | Dividend Share 1.15 | Earnings Share 13.75 | Revenue Per Share 122.934 | Quarterly Revenue Growth 0.267 |
The market value of Progressive Corp is measured differently than its book value, which is the value of Progressive that is recorded on the company's balance sheet. Investors also form their own opinion of Progressive Corp's value that differs from its market value or its book value, called intrinsic value, which is Progressive Corp's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Progressive Corp's market value can be influenced by many factors that don't directly affect Progressive Corp's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Progressive Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine if Progressive Corp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Progressive Corp's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Progressive Corp 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Progressive Corp's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Progressive Corp.
| 09/19/2024 |
| 10/19/2024 |
If you would invest 0.00 in Progressive Corp on September 19, 2024 and sell it all today you would earn a total of 0.00 from holding Progressive Corp or generate 0.0% return on investment in Progressive Corp over 30 days. Progressive Corp is related to or competes with Travelers Companies, Chubb, Cincinnati Financial, W R, Allstate, RLI Corp, and White Mountains. The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential a... More
Progressive Corp Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Progressive Corp's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Progressive Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.36 | |||
| Information Ratio | 0.0624 | |||
| Maximum Drawdown | 9.26 | |||
| Value At Risk | (1.79) | |||
| Potential Upside | 1.54 |
Progressive Corp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Progressive Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Progressive Corp's standard deviation. In reality, there are many statistical measures that can use Progressive Corp historical prices to predict the future Progressive Corp's volatility.| Risk Adjusted Performance | 0.1121 | |||
| Jensen Alpha | 0.1131 | |||
| Total Risk Alpha | 0.0243 | |||
| Sortino Ratio | 0.0598 | |||
| Treynor Ratio | 0.2653 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Progressive Corp's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Progressive Corp Backtested Returns
Progressive Corp appears to be very steady, given 3 months investment horizon. Progressive Corp maintains Sharpe Ratio (i.e., Efficiency) of 0.19, which implies the firm had a 0.19% return per unit of risk over the last 3 months. We have found thirty technical indicators for Progressive Corp, which you can use to evaluate the volatility of the company. Please evaluate Progressive Corp's Semi Deviation of 1.19, coefficient of variation of 728.71, and Risk Adjusted Performance of 0.1121 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Progressive Corp holds a performance score of 14. The company holds a Beta of 0.64, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Progressive Corp's returns are expected to increase less than the market. However, during the bear market, the loss of holding Progressive Corp is expected to be smaller as well. Please check Progressive Corp's skewness, and the relationship between the value at risk and day median price , to make a quick decision on whether Progressive Corp's historical price patterns will revert.
Auto-correlation | -0.59 |
Good reverse predictability
Progressive Corp has good reverse predictability. Overlapping area represents the amount of predictability between Progressive Corp time series from 19th of September 2024 to 4th of October 2024 and 4th of October 2024 to 19th of October 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Progressive Corp price movement. The serial correlation of -0.59 indicates that roughly 59.0% of current Progressive Corp price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.59 | |
| Spearman Rank Test | 0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 6.63 |
Progressive Corp lagged returns against current returns
Autocorrelation, which is Progressive Corp stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Progressive Corp's stock expected returns. We can calculate the autocorrelation of Progressive Corp returns to help us make a trade decision. For example, suppose you find that Progressive Corp has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Progressive Corp regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Progressive Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Progressive Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Progressive Corp stock over time.
Current vs Lagged Prices |
| Timeline |
Progressive Corp Lagged Returns
When evaluating Progressive Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Progressive Corp stock have on its future price. Progressive Corp autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Progressive Corp autocorrelation shows the relationship between Progressive Corp stock current value and its past values and can show if there is a momentum factor associated with investing in Progressive Corp.
Regressed Prices |
| Timeline |
Pair Trading with Progressive Corp
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Progressive Corp position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Progressive Corp will appreciate offsetting losses from the drop in the long position's value.Moving together with Progressive Stock
Moving against Progressive Stock
The ability to find closely correlated positions to Progressive Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Progressive Corp when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Progressive Corp - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Progressive Corp to buy it.
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Progressive Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Progressive Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Progressive Corp can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for Progressive Stock Analysis
When running Progressive Corp's price analysis, check to measure Progressive Corp's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Progressive Corp is operating at the current time. Most of Progressive Corp's value examination focuses on studying past and present price action to predict the probability of Progressive Corp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Progressive Corp's price. Additionally, you may evaluate how the addition of Progressive Corp to your portfolios can decrease your overall portfolio volatility.