ChoiceOne Financial Correlations

COFS Stock

USD 29.43 0.15 0.51%

The current 90-days correlation between ChoiceOne Financial and Peoples Fin is 0.69 (i.e., Poor diversification). The correlation of ChoiceOne Financial 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.

ChoiceOne Financial Correlation With Market

Very weak diversification

The correlation between ChoiceOne Financial Services and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ChoiceOne Financial Services and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ChoiceOne Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ChoiceOne Financial Services. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with ChoiceOne Stock

0.72	BIRG	Bank of Ireland	Pair Corr
0.62	ECBK	ECB Bancorp	Pair Corr
0.72	FCAP	First Capital	Pair Corr
0.62	FFBC	First Financial Bancorp	Pair Corr
0.72	BOH	Bank of Hawaii	Pair Corr
0.77	CAC	Camden National	Pair Corr
0.79	MPB	Mid Penn Bancorp	Pair Corr
0.71	PFS	Provident Financial	Pair Corr
0.74	TFC	Truist Financial Corp	Pair Corr
0.76	WAL	Western Alliance Ban	Pair Corr
0.64	HBAN	Huntington Bancshares Normal Trading	Pair Corr
0.72	HOMB	Home BancShares Earnings Call Next Week	Pair Corr
0.73	HTBK	Heritage Commerce Corp	Pair Corr
0.75	IBCP	Independent Bank	Pair Corr
0.66	601187	Xiamen Bank	Pair Corr
0.78	LSBK	Lake Shore Bancorp	Pair Corr
0.67	MCBS	MetroCity Bankshares	Pair Corr
0.86	ORRF	Orrstown Financial	Pair Corr
0.66	PNFP	Pinnacle Financial	Pair Corr
0.91	QCRH	QCR Holdings	Pair Corr
0.77	SBFG	SB Financial Group	Pair Corr
0.81	SMBC	Southern Missouri Bancorp	Pair Corr
0.64	SPFI	South Plains Financial	Pair Corr
0.82	BCAL	Southern California	Pair Corr

Moving against ChoiceOne Stock

0.47	601658	Postal Savings Bank	Pair Corr
0.43	LDI	Loandepot	Pair Corr
0.57	601665	Qilu Bank	Pair Corr
0.4	SFBC	Sound Financial Bancorp	Pair Corr
0.69	BYFC	Broadway Financial	Pair Corr
0.63	CMWCF	Cromwell Property	Pair Corr
0.52	HCMC	Healthier Choices	Pair Corr

Related Correlations Analysis

	PFIS	RRBI	PGC	NFBK	FBIZ	BWB	HBCP	ACNB	CBNK	KRNY
PFIS		0.91	0.85	0.9	0.9	0.91	0.9	0.88	0.46	0.93	PFIS
RRBI	0.91		0.75	0.84	0.95	0.85	0.89	0.92	0.29	0.93	RRBI
PGC	0.85	0.75		0.96	0.76	0.94	0.8	0.62	0.76	0.89	PGC
NFBK	0.9	0.84	0.96		0.86	0.96	0.87	0.74	0.66	0.95	NFBK
FBIZ	0.9	0.95	0.76	0.86		0.87	0.92	0.95	0.33	0.94	FBIZ
BWB	0.91	0.85	0.94	0.96	0.87		0.87	0.77	0.67	0.94	BWB
HBCP	0.9	0.89	0.8	0.87	0.92	0.87		0.87	0.44	0.89	HBCP
ACNB	0.88	0.92	0.62	0.74	0.95	0.77	0.87		0.16	0.85	ACNB
CBNK	0.46	0.29	0.76	0.66	0.33	0.67	0.44	0.16		0.47	CBNK
KRNY	0.93	0.93	0.89	0.95	0.94	0.94	0.89	0.85	0.47		KRNY
	PFIS	RRBI	PGC	NFBK	FBIZ	BWB	HBCP	ACNB	CBNK	KRNY

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Risk-Adjusted Indicators

There is a big difference between ChoiceOne Stock performing well and ChoiceOne Financial 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 ChoiceOne Financial'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
PFIS	1.31	0.00	(0.01)	0.08	1.72	(1.31)	3.04	(2.33)	9.46
RRBI	1.36	0.08	0.06	0.15	1.48	(1.50)	3.40	(2.59)	7.75
PGC	1.60	(0.05)	(0.01)	0.05	2.34	(1.78)	3.97	(3.17)	14.41
NFBK	1.45	(0.07)	(0.02)	0.03	1.92	(1.60)	3.24	(3.20)	9.28
FBIZ	1.19	0.04	0.04	0.12	1.27	(1.46)	3.35	(1.91)	8.01
BWB	1.40	(0.06)	(0.02)	0.04	1.64	(1.56)	3.50	(2.86)	9.89
HBCP	1.19	0.03	0.03	0.11	1.40	(1.40)	2.97	(2.40)	9.17
ACNB	1.27	0.13	0.06	0.30	1.25	(1.49)	2.50	(2.48)	6.18
CBNK	1.00	(0.17)	0.00	(0.10)	0.00	0.00	2.67	(2.88)	6.99
KRNY	1.29	0.12	0.08	0.19	1.30	(1.55)	4.34	(2.12)	8.83

ChoiceOne Financial Corporate Management

Sarah Ferris	VP Controller	Profile
Daniel Wheat	Mortgage Originator	Profile
Kelly CFP	CEO Director	Profile
Shelly Childers	Senior Officer	Profile
Steven DeVolder	Senior Officer	Profile

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