First Bancorp Correlations

FBP Stock

USD 21.90 0.09 0.41%

The current 90-days correlation between First Bancorp and Flaherty Crumrine Preferred is 0.16 (i.e., Average diversification). The correlation of First 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Bancorp Correlation With Market

Very poor diversification

The correlation between First Bancorp and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First 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 bureau of labor statistics.

To learn how to invest in First Stock, please use our How to Invest in First Bancorp guide.

Moving together with First Stock

0.89	BNPH	BNP PARIBAS ADR	Pair Corr
0.63	BIRG	Bank of Ireland Earnings Call This Week	Pair Corr
0.75	AON0	AOZORA BANK LTD	Pair Corr
0.91	AX	Axos Financial	Pair Corr
0.95	BY	Byline Bancorp	Pair Corr
0.67	KBN	Komplett Bank ASA	Pair Corr
0.74	PB	Prosperity Bancshares	Pair Corr
0.95	RF	Regions Financial	Pair Corr
0.9	HH1	Hancock Whitney	Pair Corr
0.8	BCVN	Banque Cantonale Vaudoise	Pair Corr
0.85	LLBN	Liechtensteinische	Pair Corr
0.88	VBNK	VersaBank Earnings Call This Week	Pair Corr
0.87	SANB	SANTANDER UK 8	Pair Corr
0.69	BEN	Bendigo and Adelaide	Pair Corr
0.82	B4M1	SpareBank 1 SR	Pair Corr
0.91	UIO	ATLANTIC UNION BANKSDL	Pair Corr
0.74	WBCPK	Westpac Banking	Pair Corr
0.82	FRYA	Swedbank AB	Pair Corr
0.91	VNB	Valley National Bancorp	Pair Corr
0.96	EBMT	Eagle Bancorp Montana	Pair Corr
0.74	ECBK	ECB Bancorp	Pair Corr
0.88	BNP	BNP Paribas SA	Pair Corr
0.88	EFSC	Enterprise Financial	Pair Corr
0.87	EGBN	Eagle Bancorp	Pair Corr
0.92	HSBK	Halyk Bank	Pair Corr
0.77	BCGE	Banque Cantonale	Pair Corr
0.9	WABC	Westamerica Bancorporation	Pair Corr
0.73	WAFD	Washington Federal	Pair Corr
0.93	WASH	Washington Trust Bancorp	Pair Corr

Moving against First Stock

0.69	3YB	Postal Savings Bank	Pair Corr
0.34	ICBA	ICICI Bank Limited	Pair Corr
0.31	C3B	Chongqing Rural Comm	Pair Corr

Related Correlations Analysis

	BTZ	TQSMX	APHQX	RGHYX	RNP	FHYTX	HRTVX	DHMIX	WASH	FFC
BTZ		0.26	-0.05	0.23	0.56	0.22	0.28	0.2	0.4	0.45	BTZ
TQSMX	0.26		0.78	0.95	0.64	0.93	0.99	0.97	0.85	0.88	TQSMX
APHQX	-0.05	0.78		0.71	0.09	0.84	0.73	0.87	0.51	0.52	APHQX
RGHYX	0.23	0.95	0.71		0.68	0.93	0.95	0.91	0.81	0.87	RGHYX
RNP	0.56	0.64	0.09	0.68		0.52	0.69	0.52	0.72	0.76	RNP
FHYTX	0.22	0.93	0.84	0.93	0.52		0.9	0.95	0.72	0.79	FHYTX
HRTVX	0.28	0.99	0.73	0.95	0.69	0.9		0.94	0.9	0.91	HRTVX
DHMIX	0.2	0.97	0.87	0.91	0.52	0.95	0.94		0.77	0.8	DHMIX
WASH	0.4	0.85	0.51	0.81	0.72	0.72	0.9	0.77		0.93	WASH
FFC	0.45	0.88	0.52	0.87	0.76	0.79	0.91	0.8	0.93		FFC
	BTZ	TQSMX	APHQX	RGHYX	RNP	FHYTX	HRTVX	DHMIX	WASH	FFC

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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

HRTVX	+ 0.99	TQSMX
DHMIX	+ 0.97	TQSMX
RGHYX	+ 0.95	TQSMX
HRTVX	+ 0.95	RGHYX
DHMIX	+ 0.95	FHYTX
DHMIX	+ 0.94	HRTVX

High negative correlations

APHQX

- 0.05

BTZ

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First 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 First 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
BTZ	0.31	(0.01)	(0.21)	0.01	0.36	(0.34)	0.57	(0.57)	2.18
TQSMX	0.72	0.12	0.15	0.20	0.49	(0.87)	1.73	(1.19)	5.11
APHQX	0.86	0.04	0.06	0.12	0.82	(1.01)	1.92	(1.76)	9.41
RGHYX	0.10	0.03	(0.25)	(2.12)	0.00	(0.14)	0.20	(0.10)	1.11
RNP	0.65	0.07	0.02	0.32	0.62	(0.71)	1.44	(1.04)	3.20
FHYTX	0.14	0.01	(0.28)	0.17	0.00	(0.22)	0.31	(0.31)	1.09
HRTVX	0.80	0.21	0.27	0.28	0.41	(0.97)	2.64	(1.50)	4.72
DHMIX	0.74	0.04	0.05	0.13	0.69	(0.88)	2.00	(1.47)	4.49
WASH	1.43	0.31	0.22	0.37	1.08	(1.84)	3.62	(2.04)	17.33
FFC	0.32	0.03	(0.12)	0.36	0.30	(0.37)	0.75	(0.66)	2.02

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