ConnectOne Bancorp Correlations

CNOB Stock

USD 27.83 0.58 2.13%

The current 90-days correlation between ConnectOne Bancorp and Home Bancorp is 0.75 (i.e., Poor diversification). The correlation of ConnectOne 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.

ConnectOne Bancorp Correlation With Market

Poor diversification

The correlation between ConnectOne Bancorp and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ConnectOne Bancorp 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 ConnectOne Bancorp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For information on how to trade ConnectOne Stock refer to our How to Trade ConnectOne Stock guide.

Moving together with ConnectOne Stock

0.87	AX	Axos Financial	Pair Corr
0.84	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.89	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.88	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.67	VABK	Virginia National	Pair Corr
0.79	VBNK	VersaBank Fiscal Year End 11th of December 2024	Pair Corr
0.86	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.62	TECTP	Tectonic Financial	Pair Corr
0.69	EBMT	Eagle Bancorp Montana Fiscal Year End 28th of January 2025	Pair Corr
0.92	EBTC	Enterprise Bancorp	Pair Corr
0.89	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.78	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.85	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.7	WAFD	Washington Federal	Pair Corr
0.84	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.89	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.79	ESSA	ESSA Bancorp	Pair Corr
0.8	EVBN	Evans Bancorp	Pair Corr
0.76	EWBC	East West Bancorp Fiscal Year End 28th of January 2025	Pair Corr
0.61	WSBCP	WesBanco	Pair Corr
0.72	WMPN	William Penn Bancorp	Pair Corr

Moving against ConnectOne Stock

0.31	TFC-PO	Truist Financial	Pair Corr
0.35	FRCIL	First Republic Bank	Pair Corr

Related Correlations Analysis

	RBKB	HBCP	PKBK	GSBC	NBHC	CWBC	FISI	KRNY	HFWA	FNWB
RBKB		0.55	0.61	0.32	0.48	-0.23	0.34	0.6	0.45	-0.33	RBKB
HBCP	0.55		0.9	0.84	0.94	0.36	0.65	0.9	0.89	-0.16	HBCP
PKBK	0.61	0.9		0.87	0.89	0.48	0.79	0.96	0.91	-0.11	PKBK
GSBC	0.32	0.84	0.87		0.91	0.67	0.87	0.9	0.94	0.1	GSBC
NBHC	0.48	0.94	0.89	0.91		0.45	0.69	0.91	0.96	-0.05	NBHC
CWBC	-0.23	0.36	0.48	0.67	0.45		0.65	0.5	0.6	0.53	CWBC
FISI	0.34	0.65	0.79	0.87	0.69	0.65		0.84	0.77	0.27	FISI
KRNY	0.6	0.9	0.96	0.9	0.91	0.5	0.84		0.93	0.02	KRNY
HFWA	0.45	0.89	0.91	0.94	0.96	0.6	0.77	0.93		0.02	HFWA
FNWB	-0.33	-0.16	-0.11	0.1	-0.05	0.53	0.27	0.02	0.02		FNWB
	RBKB	HBCP	PKBK	GSBC	NBHC	CWBC	FISI	KRNY	HFWA	FNWB

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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

KRNY	+ 0.96	PKBK
HFWA	+ 0.96	NBHC
NBHC	+ 0.94	HBCP
HFWA	+ 0.94	GSBC
HFWA	+ 0.93	KRNY
HFWA	+ 0.91	PKBK

High negative correlations

FNWB	- 0.33	RBKB
CWBC	- 0.23	RBKB
FNWB	- 0.16	HBCP
FNWB	- 0.11	PKBK
FNWB	- 0.05	NBHC

Risk-Adjusted Indicators

There is a big difference between ConnectOne Stock performing well and ConnectOne 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 ConnectOne 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
RBKB	1.30	0.23	0.10	0.77	1.13	(1.70)	4.15	(2.65)	9.98
HBCP	1.69	0.09	0.10	0.17	1.75	(2.01)	3.76	(3.12)	12.98
PKBK	1.15	0.14	0.14	0.22	0.96	(1.29)	2.75	(1.88)	9.72
GSBC	1.62	(0.07)	0.05	0.09	1.72	(1.78)	3.56	(3.32)	19.09
NBHC	1.63	0.02	0.08	0.13	1.62	(1.94)	3.29	(2.64)	17.64
CWBC	1.07	0.04	0.06	0.15	1.07	(1.19)	2.64	(2.16)	9.14
FISI	1.75	(0.06)	0.06	0.10	1.80	(2.04)	4.07	(3.22)	18.30
KRNY	1.98	0.10	0.17	0.15	1.59	(2.53)	4.56	(3.47)	22.42
HFWA	1.64	0.05	0.10	0.14	1.59	(1.74)	3.50	(2.26)	19.67
FNWB	1.60	0.07	0.02	0.23	1.70	(1.81)	4.11	(2.82)	14.21

ConnectOne Bancorp Corporate Management

Joseph Javitz	First Officer	Profile
Dana Zeller	Chief Officer	Profile
Mark Zurlini	Executive Officer	Profile
Siya Vansia	Senior Officer	Profile
Michael OMalley	Executive Officer	Profile

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