First Bancorp Correlations

FBP Stock

USD 21.02 0.33 1.59%

The current 90-days correlation between First Bancorp and National Bank Holdings is 0.73 (i.e., Poor 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

Poor diversification

The correlation between First Bancorp and DJI is 0.71 (i.e., 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.

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

0.8

WAFD

Washington Federal

Pair Corr

Related Correlations Analysis

	FRAF	NBHC	BWFG	FNWD	OFG	BOKF	CBU	ABCB	HBCP	FBIZ
FRAF		0.67	0.62	0.04	0.22	0.49	0.68	0.56	0.61	0.6	FRAF
NBHC	0.67		0.6	0.29	0.1	0.86	0.94	0.88	0.94	0.86	NBHC
BWFG	0.62	0.6		0.3	0.46	0.7	0.7	0.78	0.57	0.82	BWFG
FNWD	0.04	0.29	0.3		-0.31	0.46	0.26	0.48	0.42	0.27	FNWD
OFG	0.22	0.1	0.46	-0.31		0.09	0.29	0.23	-0.04	0.38	OFG
BOKF	0.49	0.86	0.7	0.46	0.09		0.9	0.96	0.86	0.88	BOKF
CBU	0.68	0.94	0.7	0.26	0.29	0.9		0.93	0.87	0.92	CBU
ABCB	0.56	0.88	0.78	0.48	0.23	0.96	0.93		0.86	0.94	ABCB
HBCP	0.61	0.94	0.57	0.42	-0.04	0.86	0.87	0.86		0.82	HBCP
FBIZ	0.6	0.86	0.82	0.27	0.38	0.88	0.92	0.94	0.82		FBIZ
	FRAF	NBHC	BWFG	FNWD	OFG	BOKF	CBU	ABCB	HBCP	FBIZ

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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

ABCB	+ 0.96	BOKF
CBU	+ 0.94	NBHC
HBCP	+ 0.94	NBHC
FBIZ	+ 0.94	ABCB
ABCB	+ 0.93	CBU
FBIZ	+ 0.92	CBU

High negative correlations

OFG	- 0.31	FNWD
HBCP	- 0.04	OFG

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
FRAF	0.81	0.20	0.07	(2.38)	1.03	(0.98)	1.52	(1.16)	9.44
NBHC	1.61	0.04	0.08	0.12	1.63	(1.89)	3.29	(2.64)	17.64
BWFG	1.78	0.11	0.09	0.15	2.20	(1.90)	3.64	(4.51)	17.30
FNWD	0.95	0.17	0.09	0.67	0.73	(1.21)	2.48	(1.80)	12.55
OFG	1.47	(0.12)	(0.01)	0.04	2.06	(1.60)	3.27	(2.63)	17.60
BOKF	1.41	0.03	0.08	0.11	1.39	(1.47)	2.70	(2.18)	15.50
CBU	1.64	0.04	0.10	0.12	1.56	(1.91)	3.41	(2.97)	18.34
ABCB	1.59	0.06	0.12	0.12	1.42	(1.88)	3.76	(2.56)	16.25
HBCP	1.66	0.09	0.09	0.15	1.73	(1.99)	3.76	(3.12)	12.98
FBIZ	1.72	0.05	0.09	0.12	1.75	(2.01)	3.96	(3.58)	16.67

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