First Commonwealth Correlations

FCF Stock

USD 17.47 0.13 0.74%

The current 90-days correlation between First Commonwealth and Northwest Bancshares is 0.06 (i.e., Significant 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

Modest diversification

The correlation between First Commonwealth Financial and DJI is 0.27 (i.e., Modest 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.

Build AI portfolio with First Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Commonwealth Financial. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with First Stock

0.71	BIRG	Bank of Ireland	Pair Corr
0.88	AX	Axos Financial	Pair Corr
0.78	BY	Byline Bancorp Earnings Call This Week	Pair Corr
0.8	PB	Prosperity Bancshares Earnings Call Next Week	Pair Corr
0.9	RF	Regions Financial	Pair Corr
0.9	VBNK	VersaBank	Pair Corr
0.72	SANB	SANTANDER UK 8	Pair Corr
0.65	WBCPK	Westpac Banking	Pair Corr
0.79	EBMT	Eagle Bancorp Montana Earnings Call This Week	Pair Corr
0.78	EFSC	Enterprise Financial Earnings Call This Week	Pair Corr
0.89	EGBN	Eagle Bancorp Earnings Call Tomorrow	Pair Corr
0.68	HSBK	Halyk Bank	Pair Corr
0.61	WABC	Westamerica Bancorporation	Pair Corr
0.78	WAFD	Washington Federal	Pair Corr
0.79	WASH	Washington Trust Bancorp Earnings Call This Week	Pair Corr
0.78	EQBK	Equity Bancshares Earnings Call Tomorrow	Pair Corr
0.82	EWBC	East West Bancorp Earnings Call This Week	Pair Corr
0.76	WNEB	Western New England Earnings Call This Week	Pair Corr
0.92	WSBC	WesBanco Earnings Call This Week	Pair Corr
0.78	WSFS	WSFS Financial Earnings Call This Week	Pair Corr
0.62	WTBA	West Bancorporation	Pair Corr
0.87	WTFC	Wintrust Financial	Pair Corr
0.84	FBIZ	First Business Financial	Pair Corr
0.87	FBLA	FB Bancorp Common	Pair Corr
0.76	FBNC	First Bancorp Earnings Call Next Week	Pair Corr
0.75	FCAP	First Capital Earnings Call This Week	Pair Corr
0.67	FCBC	First Community Banc	Pair Corr
0.87	FCCO	First Community Earnings Call Next Week	Pair Corr
0.87	FFBC	First Financial Bancorp Earnings Call Next Week	Pair Corr

Moving against First Stock

0.86	601658	Postal Savings Bank	Pair Corr
0.77	601997	Bank of Guiyang	Pair Corr
0.64	BEN	Bendigo and Adelaide	Pair Corr
0.58	FINW	Finwise Bancorp	Pair Corr

Related Correlations Analysis

	NWBI	STBA	STEL	CHCO	FRME	BLX	SRCE	CCB	LKFN	NIC
NWBI		0.57	0.66	0.91	0.76	0.45	0.64	0.6	0.56	0.76	NWBI
STBA	0.57		0.91	0.63	0.81	0.29	0.97	0.8	0.1	0.55	STBA
STEL	0.66	0.91		0.69	0.86	0.37	0.94	0.78	0.22	0.7	STEL
CHCO	0.91	0.63	0.69		0.72	0.4	0.68	0.55	0.5	0.77	CHCO
FRME	0.76	0.81	0.86	0.72		0.27	0.87	0.89	0.36	0.66	FRME
BLX	0.45	0.29	0.37	0.4	0.27		0.3	0.14	0.57	0.6	BLX
SRCE	0.64	0.97	0.94	0.68	0.87	0.3		0.83	0.19	0.64	SRCE
CCB	0.6	0.8	0.78	0.55	0.89	0.14	0.83		0.09	0.46	CCB
LKFN	0.56	0.1	0.22	0.5	0.36	0.57	0.19	0.09		0.68	LKFN
NIC	0.76	0.55	0.7	0.77	0.66	0.6	0.64	0.46	0.68		NIC
	NWBI	STBA	STEL	CHCO	FRME	BLX	SRCE	CCB	LKFN	NIC

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NWBI	1.09	0.05	(0.03)	(0.05)	1.27	(1.24)	2.65	(1.44)	5.98
STBA	1.11	0.11	0.06	0.20	1.39	(1.22)	2.11	(2.81)	6.81
STEL	1.03	0.01	0.00	0.08	1.38	(1.17)	2.20	(1.75)	6.45
CHCO	0.76	0.02	(0.07)	0.01	0.91	(0.94)	1.63	(1.43)	5.08
FRME	1.06	(0.02)	(0.02)	0.04	1.38	(1.12)	2.33	(1.59)	6.34
BLX	0.85	(0.03)	0.00	(0.03)	0.00	0.00	1.75	(1.89)	6.67
SRCE	1.04	0.11	0.06	0.23	1.15	(1.18)	2.22	(2.43)	6.47
CCB	1.66	(0.03)	0.00	0.04	2.51	(1.59)	2.86	(5.20)	10.11
LKFN	1.16	(0.12)	0.00	(0.07)	0.00	0.00	2.84	(2.95)	7.98
NIC	1.42	(0.05)	(0.03)	0.01	2.14	(1.36)	2.83	(3.26)	7.40

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