Arrow Financial Correlations

AROW Stock

USD 33.39 0.13 0.39%

The current 90-days correlation between Arrow Financial and Bar Harbor Bankshares is 0.8 (i.e., Very poor diversification). The correlation of Arrow Financial 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.

Arrow Financial Correlation With Market

Poor diversification

The correlation between Arrow Financial and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Arrow Financial and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Arrow Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Arrow Financial. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

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

Moving together with Arrow Stock

0.85	BNPH	BNP PARIBAS ADR	Pair Corr
0.66	AON0	AOZORA BANK LTD	Pair Corr
0.87	AX	Axos Financial	Pair Corr
0.97	BY	Byline Bancorp	Pair Corr
0.92	RF	Regions Financial	Pair Corr
0.87	HH1	Hancock Whitney	Pair Corr
0.75	BCVN	Banque Cantonale Vaudoise	Pair Corr
0.83	LLBN	Liechtensteinische	Pair Corr
0.81	VBNK	VersaBank Earnings Call Today	Pair Corr
0.85	SANB	SANTANDER UK 8	Pair Corr
0.83	BEN	Bendigo and Adelaide	Pair Corr
0.74	B4M1	SpareBank 1 SR	Pair Corr
0.89	UIO	ATLANTIC UNION BANKSDL	Pair Corr
0.67	WBCPK	Westpac Banking	Pair Corr
0.79	FRYA	Swedbank AB	Pair Corr
0.9	VNB	Valley National Bancorp	Pair Corr
0.67	BRE	Banco Bradesco SA	Pair Corr
0.93	EBMT	Eagle Bancorp Montana	Pair Corr
0.84	ECBK	ECB Bancorp	Pair Corr
0.86	BNP	BNP Paribas SA	Pair Corr
0.91	EFSC	Enterprise Financial	Pair Corr
0.89	EGBN	Eagle Bancorp	Pair Corr
0.83	HSBK	Halyk Bank	Pair Corr
0.81	BCGE	Banque Cantonale Earnings Call This Week	Pair Corr
0.93	WABC	Westamerica Bancorporation	Pair Corr
0.96	WASH	Washington Trust Bancorp	Pair Corr

Moving against Arrow Stock

0.52

3YB

Postal Savings Bank

Pair Corr

Related Correlations Analysis

	BHB	ACNB	FMNB	NRIM	BWB	PFIS	ALRS	CBNK	UNTY	MSBI
BHB		0.79	-0.08	-0.09	0.96	0.88	0.9	0.95	0.72	0.85	BHB
ACNB	0.79		0.29	-0.03	0.82	0.84	0.59	0.79	0.83	0.51	ACNB
FMNB	-0.08	0.29		0.3	-0.09	-0.04	-0.33	-0.18	0.26	-0.11	FMNB
NRIM	-0.09	-0.03	0.3		-0.13	-0.27	-0.1	-0.17	0.3	0.08	NRIM
BWB	0.96	0.82	-0.09	-0.13		0.86	0.87	0.96	0.76	0.77	BWB
PFIS	0.88	0.84	-0.04	-0.27	0.86		0.8	0.88	0.61	0.64	PFIS
ALRS	0.9	0.59	-0.33	-0.1	0.87	0.8		0.9	0.6	0.85	ALRS
CBNK	0.95	0.79	-0.18	-0.17	0.96	0.88	0.9		0.71	0.74	CBNK
UNTY	0.72	0.83	0.26	0.3	0.76	0.61	0.6	0.71		0.64	UNTY
MSBI	0.85	0.51	-0.11	0.08	0.77	0.64	0.85	0.74	0.64		MSBI
	BHB	ACNB	FMNB	NRIM	BWB	PFIS	ALRS	CBNK	UNTY	MSBI

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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

BWB	+ 0.96	BHB
CBNK	+ 0.96	BWB
CBNK	+ 0.95	BHB
ALRS	+ 0.9	BHB
CBNK	+ 0.9	ALRS
PFIS	+ 0.88	BHB

High negative correlations

ALRS	- 0.33	FMNB
PFIS	- 0.27	NRIM
CBNK	- 0.18	FMNB
CBNK	- 0.17	NRIM
BWB	- 0.13	NRIM
MSBI	- 0.11	FMNB

Risk-Adjusted Indicators

There is a big difference between Arrow Stock performing well and Arrow Financial 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 Arrow Financial'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
BHB	1.30	0.10	0.06	0.12	1.61	(1.45)	2.54	(2.46)	10.63
ACNB	1.17	0.03	0.01	0.08	1.38	(1.31)	2.49	(2.31)	7.77
FMNB	1.16	0.00	(0.02)	0.08	1.87	(1.07)	2.00	(2.67)	11.09
NRIM	1.88	(0.10)	0.00	(0.03)	0.00	0.00	4.17	(4.51)	21.03
BWB	1.16	0.04	0.03	0.07	1.48	(1.28)	2.67	(2.33)	9.97
PFIS	1.24	0.15	0.09	0.21	1.48	(1.23)	3.21	(2.53)	8.79
ALRS	1.35	0.14	0.08	0.17	1.56	(1.49)	2.86	(2.30)	9.30
CBNK	1.13	0.05	0.03	0.09	1.51	(1.19)	2.51	(2.74)	8.94
UNTY	1.30	0.05	0.03	0.10	1.37	(1.63)	3.33	(2.87)	8.16
MSBI	1.48	0.48	0.27	0.40	1.23	(1.68)	6.00	(1.82)	11.95

Arrow Financial Corporate Management

Thomas CPA	CEO and President	Profile
Marc Yrsha	Senior Officer	Profile
Michael Jacobs	Executive Officer	Profile
Brooke Pancoe	Senior Officer	Profile
Annette Reitano	Senior Falls	Profile

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