Cadence Bancorp Correlations

CADE Stock

USD 42.11 0.30 0.71%

The current 90-days correlation between Cadence Bancorp and Oak View National is 0.26 (i.e., Modest diversification). The correlation of Cadence 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.

Cadence Bancorp Correlation With Market

Poor diversification

The correlation between Cadence Bancorp and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cadence Bancorp and DJI in the same portfolio, assuming nothing else is changed.

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Moving together with Cadence Stock

0.83	BIRG	Bank of Ireland	Pair Corr
0.86	AX	Axos Financial	Pair Corr
0.63	ASB	Associated Banc Corp	Pair Corr
0.72	CPF	Central Pacific Financial	Pair Corr
0.91	FSFG	First Savings Financial	Pair Corr
0.82	HWC	Hancock Whitney Corp	Pair Corr
0.82	FVCB	FVCBankcorp	Pair Corr
0.75	WBCPM	Westpac Banking	Pair Corr
0.73	MCB	Metropolitan Bank Holding	Pair Corr
0.81	MTB	MT Bank	Pair Corr
0.71	WBS	Webster Financial	Pair Corr
0.64	HFWA	Heritage Financial	Pair Corr
0.81	ISTR	Investar Holding Corp	Pair Corr
0.72	LCNB	LCNB	Pair Corr
0.78	OVLY	Oak Valley Bancorp	Pair Corr
0.88	MBLPD	Macquarie Bank	Pair Corr
0.93	VBNK	VersaBank	Pair Corr
0.88	BFL	BSP Financial Group	Pair Corr
0.7	SFBS	ServisFirst Bancshares	Pair Corr
0.7	AROW	Arrow Financial	Pair Corr
0.76	TCBI	Texas Capital Bancshares	Pair Corr
0.79	BPRN	Bank Of Princeton	Pair Corr

Moving against Cadence Stock

0.77	3YB	Postal Savings Bank	Pair Corr
0.41	BBC	BNK Banking	Pair Corr
0.4	BKLRF	Berkeley Energy	Pair Corr

Related Correlations Analysis

	VTYB	MFBP	FMFP	ANDC	ALBY	WDFN	HCBN	EXCH	TMAK	OAKV
VTYB		0.7	0.78	0.36	-0.72	0.91	0.87	0.66	0.56	0.66	VTYB
MFBP	0.7		0.53	0.55	-0.45	0.67	0.8	0.46	0.62	0.55	MFBP
FMFP	0.78	0.53		0.37	-0.7	0.68	0.68	0.8	0.65	0.7	FMFP
ANDC	0.36	0.55	0.37		-0.31	0.34	0.39	0.29	0.52	0.25	ANDC
ALBY	-0.72	-0.45	-0.7	-0.31		-0.59	-0.62	-0.69	-0.5	-0.53	ALBY
WDFN	0.91	0.67	0.68	0.34	-0.59		0.79	0.55	0.5	0.59	WDFN
HCBN	0.87	0.8	0.68	0.39	-0.62	0.79		0.58	0.56	0.61	HCBN
EXCH	0.66	0.46	0.8	0.29	-0.69	0.55	0.58		0.66	0.78	EXCH
TMAK	0.56	0.62	0.65	0.52	-0.5	0.5	0.56	0.66		0.57	TMAK
OAKV	0.66	0.55	0.7	0.25	-0.53	0.59	0.61	0.78	0.57		OAKV
	VTYB	MFBP	FMFP	ANDC	ALBY	WDFN	HCBN	EXCH	TMAK	OAKV

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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

WDFN	+ 0.91	VTYB
HCBN	+ 0.87	VTYB
HCBN	+ 0.8	MFBP
EXCH	+ 0.8	FMFP
HCBN	+ 0.79	WDFN
FMFP	+ 0.78	VTYB

High negative correlations

ALBY	- 0.72	VTYB
ALBY	- 0.7	FMFP
EXCH	- 0.69	ALBY
HCBN	- 0.62	ALBY
WDFN	- 0.59	ALBY
OAKV	- 0.53	ALBY

Risk-Adjusted Indicators

There is a big difference between Cadence Stock performing well and Cadence 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 Cadence 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
VTYB	0.53	0.22	0.20	108.66	0.00	(1.18)	2.61	(0.88)	5.26
MFBP	0.91	0.12	0.02	0.83	1.08	(2.01)	3.57	(2.34)	7.54
FMFP	0.81	0.18	0.02	(0.40)	1.14	(2.39)	5.13	(2.12)	12.41
ANDC	0.76	(0.01)	(0.03)	0.03	1.04	(2.53)	2.16	(2.63)	8.35
ALBY	0.28	(0.03)	0.00	0.30	0.00	0.00	0.86	(0.86)	4.47
WDFN	0.82	0.26	0.11	2.23	0.47	(1.83)	3.70	(1.66)	9.15
HCBN	0.40	0.10	0.00	0.65	0.00	0.00	1.27	(0.16)	6.09
EXCH	0.50	0.24	0.00	3.26	0.00	0.00	0.00	0.00	17.10
TMAK	2.36	0.17	0.02	1.06	3.00	(5.06)	6.99	(7.23)	16.08
OAKV	1.29	0.14	0.02	(0.26)	1.50	(1.75)	2.59	(2.52)	7.56

Cadence Bancorp Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Cadence Bancorp stock to make a market-neutral strategy. Peer analysis of Cadence Bancorp could also be used in its relative valuation, which is a method of valuing Cadence Bancorp by comparing valuation metrics with similar companies.

The Victory Bancorp MF Bancorp First Community Financial Andover Bancorp Community Capital Bancshares Woodlands Financial Services HCB Financial Corp Exchange Bankshares Touchmark Bancshares Oak View National American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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