First Commonwealth Correlations

FCF Stock

USD 16.51 0.10 0.60%

The current 90-days correlation between First Commonwealth and Great Southern Bancorp is 0.62 (i.e., Poor 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

Weak diversification

The correlation between First Commonwealth Financial and DJI is 0.38 (i.e., Weak 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.

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 main economic indicators.

Moving together with First Stock

0.98	AX	Axos Financial	Pair Corr
0.93	BY	Byline Bancorp	Pair Corr
0.68	KB	KB Financial Group	Pair Corr
0.78	PB	Prosperity Bancshares	Pair Corr
0.9	RF	Regions Financial Earnings Call This Week	Pair Corr
0.72	WF	Woori Financial Group	Pair Corr
0.95	VABK	Virginia National	Pair Corr
0.93	VBNK	VersaBank	Pair Corr
0.97	VBTX	Veritex Holdings	Pair Corr
0.69	TFC-PI	Truist Financial	Pair Corr
0.92	EBMT	Eagle Bancorp Montana Normal Trading	Pair Corr
0.7	ECBK	ECB Bancorp	Pair Corr
0.96	EGBN	Eagle Bancorp	Pair Corr
0.83	KEY-PJ	KeyCorp	Pair Corr
0.9	KEY-PK	KeyCorp	Pair Corr
0.98	WABC	Westamerica Bancorporation	Pair Corr
0.95	WAFD	Washington Federal	Pair Corr
0.9	WASH	Washington Trust Bancorp	Pair Corr
0.94	EQBK	Equity Bancshares,	Pair Corr
0.71	WAFDP	Washington Federal	Pair Corr
0.85	WMPN	William Penn Bancorp	Pair Corr

Moving against First Stock

0.83	VBFC	Village Bank	Pair Corr
0.64	TECTP	Tectonic Financial	Pair Corr
0.62	DB	Deutsche Bank AG Normal Trading	Pair Corr
0.53	EBTC	Enterprise Bancorp	Pair Corr
0.59	WSBCP	WesBanco	Pair Corr
0.47	BANC-PF	Banc of California	Pair Corr
0.45	OCFCP	OceanFirst Financial Corp	Pair Corr

Related Correlations Analysis

	GSBC	HFWA	FNWD	QCRH	FMBH	FINW	LBC	HBCP	EFSC	CWBC
GSBC		0.78	0.79	0.85	0.85	0.39	0.0	0.52	0.47	0.88	GSBC
HFWA	0.78		0.59	0.77	0.92	0.53	0.0	0.83	0.75	0.82	HFWA
FNWD	0.79	0.59		0.92	0.76	0.06	0.0	0.2	0.1	0.81	FNWD
QCRH	0.85	0.77	0.92		0.89	0.18	0.0	0.4	0.32	0.88	QCRH
FMBH	0.85	0.92	0.76	0.89		0.51	0.0	0.73	0.66	0.9	FMBH
FINW	0.39	0.53	0.06	0.18	0.51		0.0	0.78	0.8	0.4	FINW
LBC	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	LBC
HBCP	0.52	0.83	0.2	0.4	0.73	0.78	0.0		0.93	0.59	HBCP
EFSC	0.47	0.75	0.1	0.32	0.66	0.8	0.0	0.93		0.53	EFSC
CWBC	0.88	0.82	0.81	0.88	0.9	0.4	0.0	0.59	0.53		CWBC
	GSBC	HFWA	FNWD	QCRH	FMBH	FINW	LBC	HBCP	EFSC	CWBC

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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

EFSC	+ 0.93	HBCP
FMBH	+ 0.92	HFWA
QCRH	+ 0.92	FNWD
CWBC	+ 0.9	FMBH
FMBH	+ 0.89	QCRH
CWBC	+ 0.88	GSBC

High negative correlations

CWBC	- 0.0	LBC
EFSC	- 0.0	LBC
HBCP	- 0.0	LBC
LBC	- 0.0	FINW
LBC	- 0.0	FMBH
LBC	- 0.0	QCRH

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
GSBC	1.24	(0.09)	0.00	(0.10)	0.00	0.00	2.59	(2.97)	7.73
HFWA	1.21	(0.10)	0.00	(0.11)	0.00	0.00	2.72	(3.05)	9.15
FNWD	0.93	(0.23)	0.00	(0.74)	0.00	0.00	1.36	(1.97)	8.51
QCRH	1.00	(0.21)	0.00	(0.26)	0.00	0.00	1.89	(2.13)	8.49
FMBH	1.25	(0.08)	0.00	(0.10)	0.00	0.00	2.78	(2.32)	9.65
FINW	2.05	0.24	0.08	(1.62)	2.43	(2.23)	5.00	(4.83)	14.95
LBC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HBCP	1.42	0.00	0.00	0.00	1.90	(1.47)	3.09	(2.42)	9.44
EFSC	1.19	0.07	0.05	0.09	1.40	(1.31)	3.07	(2.21)	8.06
CWBC	1.02	(0.05)	0.00	(0.06)	0.00	0.00	2.48	(2.17)	6.94

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