Avidia Bancorp Correlations

AVBC Stock

17.33 0.35 2.06%

The correlation of Avidia Bancorp 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.

Avidia Bancorp Correlation With Market

Average diversification

The correlation between Avidia Bancorp and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avidia Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Avidia Stock

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

For information on how to trade Avidia Stock refer to our How to Trade Avidia Stock guide.

Moving together with Avidia Stock

0.73	C	Citigroup	Pair Corr
0.73	CM	Canadian Imperial Bank	Pair Corr
0.79	RY	Royal Bank Sell-off Trend	Pair Corr
0.75	TD	Toronto Dominion Bank	Pair Corr
0.65	WF	Woori Financial Group	Pair Corr
0.78	FDSB	Fifth District Bancorp	Pair Corr
0.78	FITB	Fifth Third Bancorp Earnings Call This Week	Pair Corr
0.68	BAP	Credicorp	Pair Corr
0.73	BBT	Beacon Financial Symbol Change	Pair Corr
0.72	BCS	Barclays PLC ADR	Pair Corr
0.75	BNS	Bank of Nova Scotia	Pair Corr
0.71	BMO	Bank of Montreal	Pair Corr
0.77	BNS	Bank of Nova Scotia Sell-off Trend	Pair Corr
0.79	CMA	Comerica Incorporated Earnings Call This Week	Pair Corr
0.72	CABP	CAB Payments Holdings	Pair Corr
0.73	ING	ING Group NV	Pair Corr
0.7	LYG	Lloyds Banking Group	Pair Corr
0.67	MFG	Mizuho Financial	Pair Corr
0.73	NTB	Bank of NT	Pair Corr
0.67	NWG	Natwest Group PLC	Pair Corr
0.73	SAN	Banco Santander SA	Pair Corr
0.77	USB	US Bancorp Earnings Call Today	Pair Corr
0.68	STAN	Standard Chartered PLC	Pair Corr
0.68	WFC	Wells Fargo	Pair Corr

Moving against Avidia Stock

0.63	601939	China Construction Bank	Pair Corr
0.58	HDB	HDFC Bank Limited	Pair Corr
0.35	IBN	ICICI Bank Limited Earnings Call This Week	Pair Corr
0.62	600016	China Minsheng Banking	Pair Corr
0.53	601398	Industrial and Commercial	Pair Corr

Related Correlations Analysis

	PCB	PDLB	BCML	OBT	FSBW	RBB	WSBF	FMAO	CZNC	PBFS
PCB		0.86	0.85	0.78	0.88	0.87	0.77	0.84	0.87	0.87	PCB
PDLB	0.86		0.88	0.93	0.95	0.89	0.84	0.84	0.9	0.82	PDLB
BCML	0.85	0.88		0.78	0.88	0.83	0.71	0.94	0.9	0.93	BCML
OBT	0.78	0.93	0.78		0.91	0.91	0.93	0.76	0.89	0.7	OBT
FSBW	0.88	0.95	0.88	0.91		0.9	0.85	0.87	0.92	0.84	FSBW
RBB	0.87	0.89	0.83	0.91	0.9		0.92	0.8	0.93	0.78	RBB
WSBF	0.77	0.84	0.71	0.93	0.85	0.92		0.72	0.9	0.66	WSBF
FMAO	0.84	0.84	0.94	0.76	0.87	0.8	0.72		0.89	0.93	FMAO
CZNC	0.87	0.9	0.9	0.89	0.92	0.93	0.9	0.89		0.85	CZNC
PBFS	0.87	0.82	0.93	0.7	0.84	0.78	0.66	0.93	0.85		PBFS
	PCB	PDLB	BCML	OBT	FSBW	RBB	WSBF	FMAO	CZNC	PBFS

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Risk-Adjusted Indicators

There is a big difference between Avidia Stock performing well and Avidia Bancorp 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 Avidia Bancorp'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
PCB	1.26	0.05	0.03	0.15	1.34	(1.52)	2.99	(1.88)	10.53
PDLB	1.40	0.06	0.07	0.13	1.30	(1.83)	3.45	(2.24)	9.42
BCML	1.30	0.00	(0.03)	0.09	1.55	(1.44)	3.10	(2.36)	9.92
OBT	1.33	0.21	0.11	0.40	1.47	(1.49)	3.33	(2.65)	8.69
FSBW	1.21	0.09	0.03	0.27	1.05	(1.55)	3.28	(2.00)	10.30
RBB	1.34	0.19	0.14	0.26	1.26	(1.71)	3.37	(1.37)	9.67
WSBF	0.96	0.17	0.13	0.30	0.91	(1.08)	2.56	(2.37)	6.43
FMAO	1.61	(0.03)	(0.02)	0.06	1.82	(2.03)	4.61	(3.40)	10.45
CZNC	1.00	0.10	0.05	0.26	1.15	(1.14)	2.52	(1.71)	7.23
PBFS	0.98	(0.02)	(0.05)	0.05	1.15	(1.16)	2.24	(1.84)	8.41

Avidia Bancorp Corporate Executives

Elected by the shareholders, the Avidia Bancorp's board of directors comprises two types of representatives: Avidia Bancorp inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Avidia. The board's role is to monitor Avidia Bancorp's management team and ensure that shareholders' interests are well served. Avidia Bancorp's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Avidia Bancorp's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jonathan Nelson	CFO VP	Profile
Bartholomew Murphy	Executive COO	Profile
Robert Conery	Executive COO	Profile

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