Axos Financial Correlations

AX Stock

USD 94.45 0.63 0.67%

The current 90-days correlation between Axos Financial and International Bancshares is 0.78 (i.e., Poor diversification). The correlation of Axos 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.

Axos Financial Correlation With Market

Very weak diversification

The correlation between Axos Financial and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Axos Financial and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Axos Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Axos 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 american community survey.

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

Moving together with Axos Stock

0.78	BIRG	Bank of Ireland	Pair Corr
0.66	EFSC	Enterprise Financial	Pair Corr
0.9	FBNC	First Bancorp Normal Trading	Pair Corr
0.93	AUB	Atlantic Union Bankshares Earnings Call This Week	Pair Corr
0.85	CCB	Coastal Financial Corp	Pair Corr
0.91	FCF	First Commonwealth	Pair Corr
0.86	FRME	First Merchants	Pair Corr
0.89	FNB	FNB Corp Earnings Call This Week	Pair Corr
0.82	HTH	Hilltop Holdings Earnings Call This Week	Pair Corr
0.93	FVCB	FVCBankcorp Earnings Call This Week	Pair Corr
0.84	LOB	Live Oak Bancshares	Pair Corr
0.93	ONB	Old National Bancorp Earnings Call This Week	Pair Corr
0.83	SSB	SouthState Earnings Call This Week	Pair Corr
0.68	GABC	German American Bancorp	Pair Corr
0.89	TMP	Tompkins Financial	Pair Corr
0.92	NBHC	National Bank Holdings	Pair Corr
0.84	NBTB	NBT Bancorp	Pair Corr
0.91	VBNK	VersaBank	Pair Corr
0.88	LB	Laurentian Bank	Pair Corr
0.77	AFBI	Affinity Bancshares	Pair Corr
0.67	SBFG	SB Financial Group Normal Trading	Pair Corr
0.75	AROW	Arrow Financial	Pair Corr
0.84	SRBK	SR Bancorp Common	Pair Corr
0.77	SRCE	1st Source Earnings Call This Week	Pair Corr
0.7	STBA	ST Bancorp Earnings Call This Week	Pair Corr
0.72	BANR	Banner Earnings Call This Week	Pair Corr
0.8	STEL	Stellar Bancorp	Pair Corr
0.62	BFIN	BankFinancial	Pair Corr
0.77	TCBK	TriCo Bancshares Earnings Call This Week	Pair Corr

Moving against Axos Stock

0.87	601658	Postal Savings Bank	Pair Corr
0.83	601665	Qilu Bank	Pair Corr
0.54	SFBC	Sound Financial Bancorp	Pair Corr

Related Correlations Analysis

	IBOC	FFIN	HWC	IFS	WBS	ABCB	AUB	OZK	UBSI	AVAL
IBOC		0.44	0.74	0.45	0.74	0.79	0.78	0.75	0.76	0.21	IBOC
FFIN	0.44		0.28	0.26	0.18	0.47	0.47	0.68	0.29	-0.24	FFIN
HWC	0.74	0.28		0.54	0.98	0.92	0.93	0.72	0.97	0.37	HWC
IFS	0.45	0.26	0.54		0.48	0.52	0.57	0.37	0.6	0.37	IFS
WBS	0.74	0.18	0.98	0.48		0.88	0.91	0.7	0.95	0.36	WBS
ABCB	0.79	0.47	0.92	0.52	0.88		0.89	0.72	0.93	0.41	ABCB
AUB	0.78	0.47	0.93	0.57	0.91	0.89		0.85	0.93	0.14	AUB
OZK	0.75	0.68	0.72	0.37	0.7	0.72	0.85		0.69	-0.14	OZK
UBSI	0.76	0.29	0.97	0.6	0.95	0.93	0.93	0.69		0.4	UBSI
AVAL	0.21	-0.24	0.37	0.37	0.36	0.41	0.14	-0.14	0.4		AVAL
	IBOC	FFIN	HWC	IFS	WBS	ABCB	AUB	OZK	UBSI	AVAL

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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

WBS	+ 0.98	HWC
UBSI	+ 0.97	HWC
UBSI	+ 0.95	WBS
AUB	+ 0.93	HWC
UBSI	+ 0.93	ABCB
UBSI	+ 0.93	AUB

High negative correlations

AVAL	- 0.24	FFIN
AVAL	- 0.14	OZK

Risk-Adjusted Indicators

There is a big difference between Axos Stock performing well and Axos 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 Axos 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
IBOC	1.19	(0.05)	(0.03)	0.04	1.43	(1.41)	2.64	(2.01)	7.28
FFIN	1.08	(0.13)	0.00	(0.05)	0.00	0.00	2.27	(2.31)	6.37
HWC	1.13	0.04	0.03	0.12	1.81	(1.29)	2.85	(1.46)	7.22
IFS	1.13	0.12	0.05	0.32	1.46	(1.13)	2.26	(2.88)	5.72
WBS	1.08	0.03	0.03	0.12	1.63	(1.13)	2.31	(2.08)	7.06
ABCB	1.09	0.00	0.01	0.09	1.46	(1.17)	2.52	(1.87)	5.90
AUB	1.35	0.00	0.02	0.09	1.55	(1.72)	3.50	(2.87)	7.22
OZK	1.14	(0.18)	0.00	(0.06)	0.00	0.00	2.43	(2.22)	6.90
UBSI	1.07	0.09	0.06	0.19	1.27	(1.28)	3.05	(1.99)	8.03
AVAL	1.24	0.18	0.09	0.33	1.49	(1.30)	2.78	(2.90)	8.04

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