First Horizon Correlations

FHN Stock

USD 24.53 0.43 1.72%

The current 90-days correlation between First Horizon National and Comerica Incorporated is 0.1 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Horizon moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Horizon National moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Horizon Correlation With Market

Almost no diversification

The correlation between First Horizon National and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Horizon National 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 Horizon National. 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.

Moving together with First Stock

0.9	BIRG	Bank of Ireland	Pair Corr
0.93	AX	Axos Financial	Pair Corr
0.69	FFIN	First Financial Bank	Pair Corr
0.88	ASB	Associated Banc Corp	Pair Corr
0.94	CPF	Central Pacific Financial	Pair Corr
0.86	FSFG	First Savings Financial	Pair Corr
0.97	HWC	Hancock Whitney Corp	Pair Corr
0.63	FUNC	First United	Pair Corr
0.91	FVCB	FVCBankcorp	Pair Corr
0.76	WBCPM	Westpac Banking	Pair Corr
0.86	MCB	Metropolitan Bank Holding	Pair Corr
0.95	MTB	MT Bank	Pair Corr
0.95	WBS	Webster Financial	Pair Corr
0.84	HFWA	Heritage Financial	Pair Corr
0.81	IBOC	International Bancshares	Pair Corr
0.96	ISTR	Investar Holding Corp	Pair Corr
0.87	LCNB	LCNB	Pair Corr
0.87	OVLY	Oak Valley Bancorp	Pair Corr
0.88	MBLPD	Macquarie Bank	Pair Corr
0.95	VBNK	VersaBank	Pair Corr
0.78	BFL	BSP Financial Group	Pair Corr
0.79	SFBS	ServisFirst Bancshares	Pair Corr
0.88	AROW	Arrow Financial	Pair Corr
0.91	TCBI	Texas Capital Bancshares	Pair Corr
0.84	BPRN	Bank Of Princeton	Pair Corr
0.71	TFSL	TFS Financial	Pair Corr
0.81	BWFG	Bankwell Financial	Pair Corr
0.86	CADE	Cadence Bancorp	Pair Corr
0.72	CFFI	CF Financial	Pair Corr

Moving against First Stock

0.8	3YB	Postal Savings Bank	Pair Corr
0.4	BBC	BNK Banking	Pair Corr
0.38	BKLRF	Berkeley Energy	Pair Corr

Related Correlations Analysis

	CMA	WBS	GGAL	SSB	AFG	WTFC	BSAC	JEF	AIZ	CFR
CMA		0.8	0.26	0.89	-0.65	0.88	0.83	0.6	0.81	0.87	CMA
WBS	0.8		0.04	0.95	-0.68	0.97	0.79	0.54	0.6	0.9	WBS
GGAL	0.26	0.04		0.14	-0.02	0.11	0.22	0.31	0.34	0.15	GGAL
SSB	0.89	0.95	0.14		-0.72	0.97	0.89	0.56	0.68	0.95	SSB
AFG	-0.65	-0.68	-0.02	-0.72		-0.72	-0.81	-0.38	-0.28	-0.78	AFG
WTFC	0.88	0.97	0.11	0.97	-0.72		0.83	0.58	0.67	0.95	WTFC
BSAC	0.83	0.79	0.22	0.89	-0.81	0.83		0.35	0.52	0.88	BSAC
JEF	0.6	0.54	0.31	0.56	-0.38	0.58	0.35		0.67	0.51	JEF
AIZ	0.81	0.6	0.34	0.68	-0.28	0.67	0.52	0.67		0.57	AIZ
CFR	0.87	0.9	0.15	0.95	-0.78	0.95	0.88	0.51	0.57		CFR
	CMA	WBS	GGAL	SSB	AFG	WTFC	BSAC	JEF	AIZ	CFR

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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

WTFC	+ 0.97	WBS
WTFC	+ 0.97	SSB
SSB	+ 0.95	WBS
CFR	+ 0.95	SSB
CFR	+ 0.95	WTFC
CFR	+ 0.9	WBS

High negative correlations

BSAC	- 0.81	AFG
CFR	- 0.78	AFG
WTFC	- 0.72	AFG
AFG	- 0.72	SSB
AFG	- 0.68	WBS
AFG	- 0.65	CMA

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Horizon 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 Horizon'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
CMA	1.11	0.20	0.08	1.87	1.27	(1.25)	2.60	(2.15)	9.13
WBS	1.14	0.31	0.22	0.44	0.93	(1.33)	3.30	(1.78)	9.34
GGAL	2.14	(0.28)	0.00	(0.10)	0.00	0.00	4.96	(4.14)	16.38
SSB	1.01	0.19	0.17	0.32	0.83	(1.31)	2.92	(1.50)	5.69
AFG	0.79	(0.11)	0.00	3.79	0.00	0.00	1.36	(2.02)	5.39
WTFC	1.20	0.19	0.13	0.28	1.19	(1.37)	3.41	(1.72)	8.80
BSAC	1.28	0.36	0.13	2.53	1.64	(1.32)	2.85	(2.86)	8.40
JEF	1.76	(0.04)	0.02	0.07	2.39	(1.68)	2.87	(4.06)	11.46
AIZ	0.89	(0.02)	(0.04)	0.01	2.11	(0.73)	1.73	(1.80)	6.75
CFR	1.02	0.18	0.17	0.29	0.71	(1.30)	3.15	(1.28)	7.64

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