California First Correlations

CFNB Stock

USD 27.58 0.20 0.72%

The current 90-days correlation between California First National and First Northern Community is -0.07 (i.e., Good diversification). The correlation of California First 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.

California First Correlation With Market

Poor diversification

The correlation between California First National and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding California First National and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to California First could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace California First when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back California First - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling California First National to buy it.

Moving together with California OTC Stock

0.87	AA	Alcoa Corp	Pair Corr
0.8	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.76	CVX	Chevron Corp	Pair Corr
0.73	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.61	INTC	Intel Aggressive Push	Pair Corr
0.81	BA	Boeing	Pair Corr
0.63	WMT	Walmart Common Stock Aggressive Push	Pair Corr

Moving against California OTC Stock

0.79	PBCRY	Bank Central Asia	Pair Corr
0.62	MSFT	Microsoft	Pair Corr
0.58	PTAIF	PT Astra International	Pair Corr
0.48	T	ATT Inc Earnings Call This Week	Pair Corr
0.46	PBCRF	PT Bank Central	Pair Corr
0.45	MMM	3M Company	Pair Corr
0.39	IBM	International Business Tech Boost	Pair Corr

Related Correlations Analysis

	FNRN	MLGF	TSRUF	PASMF	FIZN	TSCFY	EXSR	APPCF	FFMH
FNRN		0.57	-0.81	0.53	0.48	0.0	0.77	0.85	0.84	FNRN
MLGF	0.57		-0.75	0.29	0.18	0.0	0.66	0.68	0.68	MLGF
TSRUF	-0.81	-0.75		-0.49	-0.37	0.0	-0.85	-0.83	-0.9	TSRUF
PASMF	0.53	0.29	-0.49		0.12	0.0	0.75	0.31	0.55	PASMF
FIZN	0.48	0.18	-0.37	0.12		0.0	0.37	0.39	0.58	FIZN
TSCFY	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	TSCFY
EXSR	0.77	0.66	-0.85	0.75	0.37	0.0		0.66	0.89	EXSR
APPCF	0.85	0.68	-0.83	0.31	0.39	0.0	0.66		0.81	APPCF
FFMH	0.84	0.68	-0.9	0.55	0.58	0.0	0.89	0.81		FFMH
	FNRN	MLGF	TSRUF	PASMF	FIZN	TSCFY	EXSR	APPCF	FFMH

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

FFMH	+ 0.89	EXSR
APPCF	+ 0.85	FNRN
FFMH	+ 0.84	FNRN
FFMH	+ 0.81	APPCF
EXSR	+ 0.77	FNRN
EXSR	+ 0.75	PASMF

High negative correlations

FFMH	- 0.9	TSRUF
EXSR	- 0.85	TSRUF
APPCF	- 0.83	TSRUF
TSRUF	- 0.81	FNRN
TSRUF	- 0.75	MLGF
PASMF	- 0.49	TSRUF

Risk-Adjusted Indicators

There is a big difference between California OTC Stock performing well and California First OTC Stock 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 California First'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
FNRN	0.26	0.06	0.06	1.34	0.08	(0.49)	1.00	(0.45)	3.04
MLGF	0.94	0.04	0.02	0.15	1.30	(1.37)	2.47	(2.92)	12.28
TSRUF	0.22	(0.13)	0.00	9.37	0.00	0.00	0.00	0.00	3.87
PASMF	0.19	0.03	0.00	0.36	0.00	0.00	0.00	0.00	6.16
FIZN	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50
TSCFY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EXSR	1.21	0.36	0.15	(0.72)	1.14	(1.72)	2.56	(2.22)	13.18
APPCF	2.34	1.15	0.00	1.30	0.00	0.00	0.00	0.00	78.57
FFMH	0.43	0.19	0.22	12.79	0.00	(0.75)	1.11	(0.60)	3.36

Be your own money manager

Our tools can tell you how much better you can do entering a position in California First without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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