Community Bank Correlations

CBU Stock

USD 61.07 0.06 0.1%

The current 90-days correlation between Community Bank System and WesBanco is 0.85 (i.e., Very poor diversification). The correlation of Community Bank 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.

Community Bank Correlation With Market

Very poor diversification

The correlation between Community Bank System and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Community Bank System and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Community Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Community Bank System. 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.

Moving together with Community Stock

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

Moving against Community Stock

0.48

3YB

Postal Savings Bank

Pair Corr

Related Correlations Analysis

	WSBC	TBBK	WSFS	FHB	BKU	RNST	CATY	FULT	FBK
WSBC		-0.57	0.84	0.47	0.84	0.88	0.84	0.93	0.67	WSBC
TBBK	-0.57		-0.78	0.26	-0.54	-0.69	-0.52	-0.59	-0.21	TBBK
WSFS	0.84	-0.78		0.3	0.88	0.95	0.86	0.91	0.45	WSFS
FHB	0.47	0.26	0.3		0.6	0.42	0.55	0.53	0.54	FHB
BKU	0.84	-0.54	0.88	0.6		0.91	0.91	0.92	0.61	BKU
RNST	0.88	-0.69	0.95	0.42	0.91		0.93	0.95	0.6	RNST
CATY	0.84	-0.52	0.86	0.55	0.91	0.93		0.92	0.62	CATY
FULT	0.93	-0.59	0.91	0.53	0.92	0.95	0.92		0.6	FULT
FBK	0.67	-0.21	0.45	0.54	0.61	0.6	0.62	0.6		FBK
	WSBC	TBBK	WSFS	FHB	BKU	RNST	CATY	FULT	FBK

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

RNST	+ 0.95	WSFS
FULT	+ 0.95	RNST
FULT	+ 0.93	WSBC
CATY	+ 0.93	RNST
FULT	+ 0.92	BKU
FULT	+ 0.92	CATY

High negative correlations

WSFS	- 0.78	TBBK
RNST	- 0.69	TBBK
FULT	- 0.59	TBBK
TBBK	- 0.57	WSBC
BKU	- 0.54	TBBK
CATY	- 0.52	TBBK

Risk-Adjusted Indicators

There is a big difference between Community Stock performing well and Community Bank 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 Community Bank'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
WSBC	1.26	0.15	0.07	(4.33)	1.42	(1.49)	2.95	(2.61)	9.48
TBBK	2.13	(0.26)	0.00	(0.07)	0.00	0.00	4.87	(5.50)	20.77
WSFS	1.23	0.20	0.12	0.30	1.37	(1.35)	2.71	(2.92)	10.80
FHB	1.29	(0.03)	(0.01)	0.01	1.70	(1.40)	2.40	(3.00)	9.69
BKU	1.22	0.11	0.07	0.13	1.57	(1.46)	2.75	(2.07)	14.15
RNST	1.24	0.10	0.06	0.13	1.49	(1.38)	3.04	(2.14)	11.67
CATY	1.18	0.02	0.01	0.05	1.47	(1.41)	2.72	(2.20)	10.73
FULT	1.33	0.19	0.11	0.17	1.57	(1.49)	2.66	(1.95)	10.18
FBK	1.29	0.02	(0.01)	0.92	1.78	(1.55)	3.01	(1.88)	11.62

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