First Hawaiian Correlations

FHB Stock

USD 27.62 0.83 3.10%

The current 90-days correlation between First Hawaiian and Bank of Hawaii is 0.82 (i.e., Very poor diversification). The correlation of First Hawaiian 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 Hawaiian Correlation With Market

Average diversification

The correlation between First Hawaiian and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Hawaiian 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 Hawaiian. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

For information on how to trade First Stock refer to our How to Trade First Stock guide.

Moving together with First Stock

0.89	AX	Axos Financial	Pair Corr
0.92	BY	Byline Bancorp	Pair Corr
0.94	PB	Prosperity Bancshares	Pair Corr
0.88	RF	Regions Financial	Pair Corr
0.61	VBNK	VersaBank Normal Trading	Pair Corr
0.79	VBTX	Veritex Holdings	Pair Corr
0.95	EFSC	Enterprise Financial Normal Trading	Pair Corr
0.76	EGBN	Eagle Bancorp	Pair Corr
0.85	WABC	Westamerica Bancorporation	Pair Corr
0.66	WASH	Washington Trust Bancorp	Pair Corr
0.87	EQBK	Equity Bancshares,	Pair Corr
0.75	ESSA	ESSA Bancorp	Pair Corr
0.81	EVBN	Evans Bancorp	Pair Corr
0.71	WMPN	William Penn Bancorp	Pair Corr

Moving against First Stock

0.55	FRCCL	First Republic Bank	Pair Corr
0.54	FRCHL	First Republic Bank	Pair Corr
0.4	FRCIL	First Republic Bank	Pair Corr

Related Correlations Analysis

	TBNK	BOH	FISI	HFWA	CPF	CMA	BOH-PA	WMPN	PKBK	NBHC
TBNK		0.66	-0.01	0.5	0.7	0.63	0.43	0.77	0.91	0.85	TBNK
BOH	0.66		0.32	0.88	0.86	0.93	0.42	0.86	0.86	0.85	BOH
FISI	-0.01	0.32		0.66	0.49	0.33	-0.45	0.15	0.16	0.15	FISI
HFWA	0.5	0.88	0.66		0.89	0.87	0.1	0.73	0.73	0.73	HFWA
CPF	0.7	0.86	0.49	0.89		0.87	0.14	0.83	0.87	0.81	CPF
CMA	0.63	0.93	0.33	0.87	0.87		0.38	0.83	0.82	0.85	CMA
BOH-PA	0.43	0.42	-0.45	0.1	0.14	0.38		0.54	0.4	0.54	BOH-PA
WMPN	0.77	0.86	0.15	0.73	0.83	0.83	0.54		0.89	0.85	WMPN
PKBK	0.91	0.86	0.16	0.73	0.87	0.82	0.4	0.89		0.93	PKBK
NBHC	0.85	0.85	0.15	0.73	0.81	0.85	0.54	0.85	0.93		NBHC
	TBNK	BOH	FISI	HFWA	CPF	CMA	BOH-PA	WMPN	PKBK	NBHC

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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

CMA	+ 0.93	BOH
NBHC	+ 0.93	PKBK
PKBK	+ 0.91	TBNK
CPF	+ 0.89	HFWA
PKBK	+ 0.89	WMPN
HFWA	+ 0.88	BOH

High negative correlations

BOH-PA	- 0.45	FISI
FISI	- 0.01	TBNK

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Hawaiian 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 Hawaiian'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
TBNK	1.51	(0.20)	0.00	0.75	0.00	0.00	2.28	(3.71)	17.04
BOH	1.47	0.19	0.11	0.40	1.26	(1.96)	3.00	(2.30)	14.21
FISI	1.53	0.14	0.06	0.36	1.58	(1.86)	3.45	(2.91)	18.42
HFWA	1.41	0.21	0.09	0.41	1.59	(1.47)	2.91	(2.94)	21.63
CPF	1.64	0.07	0.02	0.15	2.42	(1.67)	4.49	(4.03)	19.71
CMA	1.52	0.12	0.05	0.26	1.70	(1.78)	3.18	(3.10)	16.68
BOH-PA	1.00	(0.11)	0.00	(0.24)	0.00	0.00	1.54	(2.01)	4.82
WMPN	1.05	(0.02)	(0.04)	0.03	1.38	(1.26)	2.11	(2.01)	9.38
PKBK	1.10	(0.04)	0.00	(0.06)	0.00	0.00	1.93	(2.30)	11.66
NBHC	1.29	(0.05)	0.00	(0.05)	0.00	0.00	2.14	(2.85)	19.14

First Hawaiian Corporate Management

Gina Anonuevo	Executive Officer	Profile
Christopher Dods	Vice COO	Profile
Iris Matsumoto	Ex Officer	Profile
Lea Nakamura	Executive Group	Profile

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