Community Bank Correlations

CBU Stock

USD 65.56 0.54 0.83%

The current 90-days correlation between Community Bank System and National Bank Holdings is 0.89 (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

Average diversification

The correlation between Community Bank System and DJI is 0.18 (i.e., Average 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.

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

0.94	AX	Axos Financial	Pair Corr
0.94	BY	Byline Bancorp	Pair Corr
0.94	PB	Prosperity Bancshares	Pair Corr
0.93	RF	Regions Financial	Pair Corr
0.66	VABK	Virginia National	Pair Corr
0.71	VBNK	VersaBank	Pair Corr
0.73	VBTX	Veritex Holdings	Pair Corr
0.65	TFC-PI	Truist Financial	Pair Corr
0.9	EFSC	Enterprise Financial Normal Trading	Pair Corr
0.82	EGBN	Eagle Bancorp	Pair Corr
0.61	KEY-PK	KeyCorp	Pair Corr
0.92	WABC	Westamerica Bancorporation	Pair Corr
0.64	WAFD	Washington Federal	Pair Corr
0.78	WASH	Washington Trust Bancorp	Pair Corr
0.93	EQBK	Equity Bancshares,	Pair Corr
0.7	ESSA	ESSA Bancorp	Pair Corr
0.73	EVBN	Evans Bancorp	Pair Corr
0.92	EWBC	East West Bancorp	Pair Corr
0.75	WMPN	William Penn Bancorp	Pair Corr

Moving against Community Stock

0.47	FRCCL	First Republic Bank	Pair Corr
0.47	FRCHL	First Republic Bank	Pair Corr

Related Correlations Analysis

	SAL	NBHC	BY	HBCP	FNWD	NFBK	CWBC	FCCO	LNKB	CATC
SAL		-0.19	0.23	0.28	-0.3	0.0	0.42	0.63	0.24	0.72	SAL
NBHC	-0.19		0.77	0.79	0.76	0.94	0.61	0.35	0.2	-0.18	NBHC
BY	0.23	0.77		0.83	0.41	0.92	0.84	0.72	0.62	0.26	BY
HBCP	0.28	0.79	0.83		0.49	0.85	0.72	0.76	0.31	0.21	HBCP
FNWD	-0.3	0.76	0.41	0.49		0.66	0.49	0.07	0.02	-0.53	FNWD
NFBK	0.0	0.94	0.92	0.85	0.66		0.76	0.55	0.41	-0.01	NFBK
CWBC	0.42	0.61	0.84	0.72	0.49	0.76		0.73	0.63	0.3	CWBC
FCCO	0.63	0.35	0.72	0.76	0.07	0.55	0.73		0.56	0.59	FCCO
LNKB	0.24	0.2	0.62	0.31	0.02	0.41	0.63	0.56		0.32	LNKB
CATC	0.72	-0.18	0.26	0.21	-0.53	-0.01	0.3	0.59	0.32		CATC
	SAL	NBHC	BY	HBCP	FNWD	NFBK	CWBC	FCCO	LNKB	CATC

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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

NFBK	+ 0.94	NBHC
NFBK	+ 0.92	BY
NFBK	+ 0.85	HBCP
CWBC	+ 0.84	BY
HBCP	+ 0.83	BY
HBCP	+ 0.79	NBHC

High negative correlations

CATC	- 0.53	FNWD
FNWD	- 0.3	SAL
NBHC	- 0.19	SAL
CATC	- 0.18	NBHC
CATC	- 0.01	NFBK
NFBK	- 0.0	SAL

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
SAL	1.81	0.18	0.03	(1.02)	1.86	(2.16)	4.29	(3.33)	10.55
NBHC	1.32	(0.12)	0.00	(0.17)	0.00	0.00	2.14	(2.85)	19.14
BY	1.41	0.15	0.06	0.39	1.53	(1.60)	2.89	(2.72)	21.89
HBCP	1.62	0.08	0.02	0.22	1.89	(1.81)	3.32	(3.07)	14.40
FNWD	0.96	(0.26)	0.00	(0.95)	0.00	0.00	2.12	(2.54)	8.51
NFBK	1.82	(0.04)	(0.04)	0.03	1.87	(2.43)	4.03	(2.55)	23.58
CWBC	1.08	0.05	(0.02)	0.51	1.27	(1.16)	2.53	(1.95)	11.26
FCCO	1.21	0.16	0.07	0.41	1.35	(1.34)	3.05	(2.18)	10.09
LNKB	1.61	0.13	0.05	0.28	1.72	(1.76)	3.44	(2.98)	10.93
CATC	1.49	0.18	0.06	0.91	1.59	(1.68)	3.56	(2.51)	7.89

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