Blue Foundry Correlations

BLFY Stock

USD 9.75 0.13 1.32%

The current 90-days correlation between Blue Foundry Bancorp and HMN Financial is -0.09 (i.e., Good diversification). The correlation of Blue Foundry 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.

Blue Foundry Correlation With Market

Significant diversification

The correlation between Blue Foundry Bancorp and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blue Foundry Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Blue Foundry 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 census.

Moving together with Blue Stock

0.86	AX	Axos Financial	Pair Corr
0.83	BY	Byline Bancorp	Pair Corr
0.71	PB	Prosperity Bancshares	Pair Corr
0.82	RF	Regions Financial	Pair Corr
0.66	WF	Woori Financial Group Earnings Call This Week	Pair Corr
0.9	VABK	Virginia National	Pair Corr
0.87	VBNK	VersaBank Normal Trading	Pair Corr
0.93	VBTX	Veritex Holdings	Pair Corr
0.7	TFC-PI	Truist Financial	Pair Corr
0.88	EBMT	Eagle Bancorp Montana	Pair Corr
0.62	ECBK	ECB Bancorp	Pair Corr
0.61	EFSC	Enterprise Financial Normal Trading	Pair Corr
0.93	EGBN	Eagle Bancorp	Pair Corr
0.72	KEY-PJ	KeyCorp	Pair Corr
0.78	KEY-PK	KeyCorp	Pair Corr
0.9	WABC	Westamerica Bancorporation	Pair Corr
0.87	WAFD	Washington Federal	Pair Corr
0.83	WASH	Washington Trust Bancorp	Pair Corr
0.9	EQBK	Equity Bancshares,	Pair Corr
0.92	WMPN	William Penn Bancorp	Pair Corr

Moving against Blue Stock

0.49	DB	Deutsche Bank AG	Pair Corr
0.36	TECTP	Tectonic Financial	Pair Corr

Related Correlations Analysis

	CULL	HMNF	HFBL	HVBC	LSBK	CWBC	OFED	BSBK	FNCB	CIVB
CULL		-0.5	-0.19	-0.54	-0.45	-0.06	0.36	0.18	-0.48	-0.25	CULL
HMNF	-0.5		0.37	0.4	0.27	-0.19	-0.34	-0.18	0.38	0.12	HMNF
HFBL	-0.19	0.37		0.12	0.03	-0.48	-0.59	-0.44	0.52	-0.36	HFBL
HVBC	-0.54	0.4	0.12		0.32	0.33	-0.25	0.12	0.36	0.38	HVBC
LSBK	-0.45	0.27	0.03	0.32		0.16	-0.16	-0.12	0.36	0.29	LSBK
CWBC	-0.06	-0.19	-0.48	0.33	0.16		0.14	0.3	-0.31	0.79	CWBC
OFED	0.36	-0.34	-0.59	-0.25	-0.16	0.14		0.69	-0.53	0.23	OFED
BSBK	0.18	-0.18	-0.44	0.12	-0.12	0.3	0.69		-0.26	0.25	BSBK
FNCB	-0.48	0.38	0.52	0.36	0.36	-0.31	-0.53	-0.26		-0.35	FNCB
CIVB	-0.25	0.12	-0.36	0.38	0.29	0.79	0.23	0.25	-0.35		CIVB
	CULL	HMNF	HFBL	HVBC	LSBK	CWBC	OFED	BSBK	FNCB	CIVB

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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

CIVB	+ 0.79	CWBC
BSBK	+ 0.69	OFED
FNCB	+ 0.52	HFBL
HVBC	+ 0.4	HMNF
FNCB	+ 0.38	HMNF
CIVB	+ 0.38	HVBC

High negative correlations

OFED	- 0.59	HFBL
HVBC	- 0.54	CULL
FNCB	- 0.53	OFED
HMNF	- 0.5	CULL
CWBC	- 0.48	HFBL
FNCB	- 0.48	CULL

Risk-Adjusted Indicators

There is a big difference between Blue Stock performing well and Blue Foundry 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 Blue Foundry'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
CULL	0.51	(0.10)	0.00	0.50	0.00	0.00	1.18	(1.64)	4.73
HMNF	1.88	0.44	0.13	(0.82)	1.85	(2.37)	4.29	(3.19)	13.15
HFBL	1.48	0.08	(0.01)	(0.16)	2.08	(2.18)	5.67	(4.53)	13.83
HVBC	1.51	0.34	0.09	43.04	2.03	(1.59)	2.68	(4.11)	18.63
LSBK	1.53	0.35	0.09	11.05	1.50	(2.44)	3.66	(3.49)	10.32
CWBC	1.08	0.05	(0.02)	0.51	1.27	(1.16)	2.53	(1.95)	11.26
OFED	2.13	(0.27)	0.00	(0.85)	0.00	0.00	3.48	(5.28)	12.66
BSBK	1.52	(0.02)	0.00	0.24	0.00	0.00	2.97	(3.27)	9.21
FNCB	1.39	0.22	0.07	3.07	1.48	(1.46)	4.40	(3.12)	8.33
CIVB	1.53	0.24	0.10	0.53	1.63	(1.71)	3.56	(3.09)	13.76

Blue Foundry Corporate Management

Keith Owes	Executive Officer	Profile
Alex Malkiman	Ex Officer	Profile
Thomas Packwood	Senior Executive	Profile
Elyse Beidner	Executive Officer	Profile
Aleksander Malkiman	Executive Officer	Profile

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