Community Bank Correlations

CBU Stock

USD 62.73 1.44 2.35%

The current 90-days correlation between Community Bank System and WesBanco is 0.81 (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 weak diversification

The correlation between Community Bank System and DJI is 0.46 (i.e., Very weak 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

0.7	BIRG	Bank of Ireland	Pair Corr
0.65	EFSC	Enterprise Financial	Pair Corr
0.91	FBNC	First Bancorp Normal Trading	Pair Corr
0.86	AUB	Atlantic Union Bankshares Earnings Call This Week	Pair Corr
0.81	CCB	Coastal Financial Corp	Pair Corr
0.86	FCF	First Commonwealth	Pair Corr
0.86	FRME	First Merchants	Pair Corr
0.87	FNB	FNB Corp Earnings Call This Week	Pair Corr
0.79	HTH	Hilltop Holdings Earnings Call This Week	Pair Corr
0.9	FVCB	FVCBankcorp Earnings Call This Week	Pair Corr
0.7	LOB	Live Oak Bancshares	Pair Corr
0.9	ONB	Old National Bancorp Earnings Call This Week	Pair Corr
0.68	SSB	SouthState Earnings Call This Week	Pair Corr
0.69	GABC	German American Bancorp	Pair Corr
0.87	TMP	Tompkins Financial	Pair Corr
0.62	601187	Xiamen Bank	Pair Corr
0.9	NBHC	National Bank Holdings	Pair Corr
0.84	NBTB	NBT Bancorp	Pair Corr
0.82	VBNK	VersaBank	Pair Corr
0.87	LB	Laurentian Bank	Pair Corr
0.72	AFBI	Affinity Bancshares	Pair Corr
0.74	SBFG	SB Financial Group	Pair Corr
0.71	AROW	Arrow Financial	Pair Corr
0.85	SRBK	SR Bancorp Common	Pair Corr
0.8	SRCE	1st Source Earnings Call This Week	Pair Corr
0.75	STBA	ST Bancorp Earnings Call This Week	Pair Corr
0.81	BANR	Banner Earnings Call This Week	Pair Corr
0.8	STEL	Stellar Bancorp	Pair Corr
0.72	BHRB	Burke Herbert Financial Earnings Call Next Week	Pair Corr
0.77	TCBK	TriCo Bancshares Earnings Call This Week	Pair Corr

Moving against Community Stock

0.8	601658	Postal Savings Bank	Pair Corr
0.8	601665	Qilu Bank	Pair Corr
0.42	SFBC	Sound Financial Bancorp	Pair Corr

Related Correlations Analysis

	WSBC	TBBK	WSFS	FHB	BKU	RNST	CATY	FULT	FBK
WSBC		0.16	0.82	0.87	0.86	0.96	0.9	0.95	0.89	WSBC
TBBK	0.16		-0.17	-0.02	-0.17	0.24	0.09	0.12	0.24	TBBK
WSFS	0.82	-0.17		0.84	0.88	0.78	0.9	0.83	0.73	WSFS
FHB	0.87	-0.02	0.84		0.95	0.82	0.78	0.93	0.83	FHB
BKU	0.86	-0.17	0.88	0.95		0.8	0.82	0.9	0.81	BKU
RNST	0.96	0.24	0.78	0.82	0.8		0.86	0.89	0.92	RNST
CATY	0.9	0.09	0.9	0.78	0.82	0.86		0.86	0.8	CATY
FULT	0.95	0.12	0.83	0.93	0.9	0.89	0.86		0.83	FULT
FBK	0.89	0.24	0.73	0.83	0.81	0.92	0.8	0.83		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	+ 0.96	WSBC
FULT	+ 0.95	WSBC
BKU	+ 0.95	FHB
FULT	+ 0.93	FHB
FBK	+ 0.92	RNST
CATY	+ 0.9	WSBC

High negative correlations

BKU	- 0.17	TBBK
WSFS	- 0.17	TBBK
FHB	- 0.02	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	1.30	(0.02)	0.00	0.09	1.85	(1.38)	2.95	(2.44)	11.73
TBBK	1.66	(0.24)	0.00	(0.01)	0.00	0.00	4.29	(2.96)	20.56
WSFS	1.11	0.02	(0.02)	0.17	1.58	(1.15)	2.70	(1.84)	8.47
FHB	1.23	0.07	0.06	0.17	1.30	(1.40)	2.84	(2.26)	8.02
BKU	1.22	0.18	0.09	0.27	1.81	(1.42)	2.75	(1.75)	12.01
RNST	1.12	(0.04)	(0.02)	0.07	1.70	(1.17)	2.73	(2.14)	10.16
CATY	1.23	(0.01)	(0.04)	0.07	1.93	(1.30)	3.14	(2.03)	10.95
FULT	1.28	0.06	0.06	0.16	1.47	(1.42)	3.20	(2.58)	8.44
FBK	1.20	(0.04)	(0.01)	0.08	1.99	(1.21)	3.18	(2.76)	12.52

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