First Commonwealth Correlations

Stocks . Germany . 
Stock . First Commonwealth Financial
FCF Stock  EUR 15.50  0.10  0.65%   
The current 90-days correlation between First Commonwealth and Natus Medical Incorporated is -0.05 (i.e., Good diversification). The correlation of First Commonwealth 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.

First Commonwealth Correlation With Market

Poor diversification

The correlation between First Commonwealth Financial and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Commonwealth Financial and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to First Commonwealth could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Commonwealth 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 First Commonwealth - 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 First Commonwealth Financial to buy it.

Moving together with First Stock

  0.74FTD FINDE TUBIZE ACTNOUVPairCorr
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  0.64PRHA Prosegur Compaa de Earnings Call This WeekPairCorr
  0.736IC Iridium CommunicationsPairCorr
  0.86ENR Siemens Energy AGPairCorr
  0.74SKNB Skanska ABPairCorr
  0.69KGHA KGHM Polska MiedzPairCorr
  0.73SZL SOLSTAD OFFSHOREPairCorr
  0.73TCW TOKYU STRUCTIONPairCorr
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  0.75LPK LPKF Laser ElectronicsPairCorr
  0.68CWW Commonwealth BankPairCorr
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Moving against First Stock

  0.643HB Hybrigenics SocietePairCorr
  0.6W060 Byggmästare AndersPairCorr
  0.69DBPD Xtrackers ShortDAXPairCorr
  0.324AH1 PT Ace HardwarePairCorr

Related Correlations Analysis


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

R6N
+ 0.77
CZ2
LQ0
+ 0.6
R6N
LQ0
+ 0.48
CZ2
CNJ
+ 0.45
GM0N
R6N
+ 0.27
CNJ
CZ2
+ 0.22
CNJ
  

High negative correlations

CZ2
- 0.9
NM4
R6N
- 0.88
NM4
LQ0
- 0.56
NM4
CNJ
- 0.3
NM4
LQ0
- 0.26
GM0N
LQ0
- 0.11
CNJ

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Commonwealth 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 Commonwealth'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in First Commonwealth 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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First Commonwealth Corporate Management

Elected by the shareholders, the First Commonwealth's board of directors comprises two types of representatives: First Commonwealth inside directors who are chosen from within the company, and outside directors, selected externally and held independent of First. The board's role is to monitor First Commonwealth's management team and ensure that shareholders' interests are well served. First Commonwealth's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, First Commonwealth's outside directors are responsible for providing unbiased perspectives on the board's policies.
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