First Commonwealth Correlations

FCF Stock

USD 17.85 0.03 0.17%

The current 90-days correlation between First Commonwealth and Northwest Bancshares is 0.91 (i.e., Almost no 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 0.79 (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.

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

0.87	BNPH	BNP PARIBAS ADR	Pair Corr
0.62	AON0	AOZORA BANK LTD	Pair Corr
0.9	AX	Axos Financial	Pair Corr
0.77	BY	Byline Bancorp	Pair Corr
0.64	PB	Prosperity Bancshares	Pair Corr
0.92	RF	Regions Financial	Pair Corr
0.88	HH1	Hancock Whitney	Pair Corr
0.73	BCVN	Banque Cantonale Vaudoise	Pair Corr
0.81	VBNK	VersaBank	Pair Corr
0.87	SANB	SANTANDER UK 8	Pair Corr
0.83	BEN	Bendigo and Adelaide	Pair Corr
0.73	B4M1	SpareBank 1 SR	Pair Corr
0.88	UIO	ATLANTIC UNION BANKSDL	Pair Corr
0.74	WBCPK	Westpac Banking	Pair Corr
0.83	FRYA	Swedbank AB	Pair Corr
0.9	VNB	Valley National Bancorp	Pair Corr
0.67	BRE	Banco Bradesco SA	Pair Corr
0.69	EBMT	Eagle Bancorp Montana	Pair Corr
0.81	ECBK	ECB Bancorp	Pair Corr
0.86	BNP	BNP Paribas SA	Pair Corr
0.89	EFSC	Enterprise Financial	Pair Corr
0.88	EGBN	Eagle Bancorp	Pair Corr
0.86	HSBK	Halyk Bank	Pair Corr
0.78	BCGE	Banque Cantonale Earnings Call This Week	Pair Corr
0.68	WABC	Westamerica Bancorporation	Pair Corr
0.91	WASH	Washington Trust Bancorp	Pair Corr

Moving against First Stock

0.54

3YB

Postal Savings Bank

Pair Corr

Related Correlations Analysis

	NWBI	STBA	STEL	CHCO	FRME	BLX	SRCE	CCB	LKFN	NIC
NWBI		0.87	0.81	0.79	0.8	0.74	0.95	-0.69	0.9	0.78	NWBI
STBA	0.87		0.89	0.7	0.92	0.83	0.8	-0.79	0.79	0.91	STBA
STEL	0.81	0.89		0.53	0.89	0.93	0.8	-0.92	0.67	0.94	STEL
CHCO	0.79	0.7	0.53		0.75	0.35	0.68	-0.3	0.84	0.45	CHCO
FRME	0.8	0.92	0.89	0.75		0.76	0.73	-0.75	0.74	0.83	FRME
BLX	0.74	0.83	0.93	0.35	0.76		0.78	-0.93	0.61	0.93	BLX
SRCE	0.95	0.8	0.8	0.68	0.73	0.78		-0.77	0.83	0.81	SRCE
CCB	-0.69	-0.79	-0.92	-0.3	-0.75	-0.93	-0.77		-0.5	-0.91	CCB
LKFN	0.9	0.79	0.67	0.84	0.74	0.61	0.83	-0.5		0.67	LKFN
NIC	0.78	0.91	0.94	0.45	0.83	0.93	0.81	-0.91	0.67		NIC
	NWBI	STBA	STEL	CHCO	FRME	BLX	SRCE	CCB	LKFN	NIC

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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

SRCE	+ 0.95	NWBI
NIC	+ 0.94	STEL
BLX	+ 0.93	STEL
NIC	+ 0.93	BLX
FRME	+ 0.92	STBA
NIC	+ 0.91	STBA

High negative correlations

CCB	- 0.93	BLX
CCB	- 0.92	STEL
NIC	- 0.91	CCB
CCB	- 0.79	STBA
CCB	- 0.77	SRCE
CCB	- 0.75	FRME

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	1.06	0.03	0.02	0.08	1.29	(1.15)	2.30	(1.67)	8.42
STBA	1.10	0.10	0.06	0.14	1.46	(1.23)	2.58	(1.63)	9.25
STEL	1.11	0.24	0.19	0.29	0.95	(1.30)	2.20	(1.82)	14.73
CHCO	0.80	(0.03)	(0.03)	(0.01)	1.23	(0.85)	1.83	(2.35)	6.05
FRME	1.14	0.05	0.04	0.08	1.39	(1.27)	2.80	(1.59)	9.21
BLX	1.05	0.19	0.11	(0.77)	1.08	(1.12)	2.81	(1.87)	5.46
SRCE	1.03	0.10	0.07	0.19	1.20	(1.11)	2.15	(2.04)	7.05
CCB	2.12	(0.47)	0.00	1.18	0.00	0.00	3.07	(5.57)	13.62
LKFN	1.22	(0.02)	(0.01)	0.02	1.39	(1.40)	3.03	(2.61)	7.47
NIC	1.48	0.27	0.18	0.28	1.32	(1.73)	2.95	(2.79)	13.63

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