First Bancshares Correlations

FIBH Stock

USD 44.00 0.60 1.38%

The current 90-days correlation between First Bancshares and Crazy Woman Creek is -0.04 (i.e., Good diversification). The correlation of First Bancshares 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 Bancshares Correlation With Market

Poor diversification

The correlation between First Bancshares and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Bancshares and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to First Bancshares could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Bancshares when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back First Bancshares - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling First Bancshares to buy it.

Moving together with First Pink Sheet

0.76	CIHHF	China Merchants Bank	Pair Corr
0.66	MFG	Mizuho Financial	Pair Corr
0.81	PNC	PNC Financial Services Sell-off Trend	Pair Corr
0.91	FRFFF	Fairfax Financial	Pair Corr
0.68	FRSB	First Resource Bank	Pair Corr
0.69	TOGOF	TomaGold	Pair Corr
0.84	GS	Goldman Sachs Group	Pair Corr
0.76	BNEFF	Bonterra Energy Corp	Pair Corr
0.69	UMAC	Unusual Machines	Pair Corr
0.61	JOE	St Joe Company	Pair Corr
0.78	MEEEF	Metal Energy Corp	Pair Corr

Moving against First Pink Sheet

0.92	ROBOF	RoboGroup TEK	Pair Corr
0.86	EQC	Equity Commonwealth	Pair Corr
0.64	HDB	HDFC Bank Limited	Pair Corr
0.58	CDIV	Cascadia Investments	Pair Corr
0.54	CIHKY	China Merchants Bank	Pair Corr
0.31	IBN	ICICI Bank Limited	Pair Corr
0.61	AFIIQ	Armstrong Flooring	Pair Corr
0.56	WELL	Welltower Earnings Call This Week	Pair Corr

Related Correlations Analysis

	CRZY	LOGN	FBPI	TBBA	CIBN	JTNB	SNNF	CBHC	WVFC	MKIN
CRZY		-0.59	-0.22	0.23	-0.26	-0.51	-0.34	0.0	-0.41	-0.25	CRZY
LOGN	-0.59		-0.07	-0.19	0.5	0.35	0.19	0.0	-0.05	0.09	LOGN
FBPI	-0.22	-0.07		-0.25	-0.46	0.74	0.84	0.0	0.7	0.85	FBPI
TBBA	0.23	-0.19	-0.25		-0.25	-0.29	-0.21	0.0	-0.14	-0.11	TBBA
CIBN	-0.26	0.5	-0.46	-0.25		-0.17	-0.51	0.0	-0.27	-0.56	CIBN
JTNB	-0.51	0.35	0.74	-0.29	-0.17		0.79	0.0	0.61	0.78	JTNB
SNNF	-0.34	0.19	0.84	-0.21	-0.51	0.79		0.0	0.49	0.91	SNNF
CBHC	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	CBHC
WVFC	-0.41	-0.05	0.7	-0.14	-0.27	0.61	0.49	0.0		0.59	WVFC
MKIN	-0.25	0.09	0.85	-0.11	-0.56	0.78	0.91	0.0	0.59		MKIN
	CRZY	LOGN	FBPI	TBBA	CIBN	JTNB	SNNF	CBHC	WVFC	MKIN

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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

MKIN	+ 0.91	SNNF
MKIN	+ 0.85	FBPI
SNNF	+ 0.84	FBPI
SNNF	+ 0.79	JTNB
MKIN	+ 0.78	JTNB
JTNB	+ 0.74	FBPI

High negative correlations

LOGN	- 0.59	CRZY
MKIN	- 0.56	CIBN
SNNF	- 0.51	CIBN
JTNB	- 0.51	CRZY
CIBN	- 0.46	FBPI
WVFC	- 0.41	CRZY

Risk-Adjusted Indicators

There is a big difference between First Pink Sheet performing well and First Bancshares 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 Bancshares' 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
CRZY	0.47	(0.06)	0.00	(0.10)	0.00	0.00	1.65	(2.02)	7.55
LOGN	0.62	0.06	0.01	0.33	1.00	(1.10)	1.57	(1.09)	9.11
FBPI	0.38	0.13	0.06	(0.71)	0.00	(1.08)	1.41	(0.53)	4.56
TBBA	1.65	(0.25)	0.00	(0.24)	0.00	0.00	4.60	(4.66)	18.51
CIBN	1.35	0.21	0.02	(0.24)	1.93	(4.23)	5.75	(3.93)	23.66
JTNB	0.72	0.14	0.03	(1.83)	0.76	(2.13)	2.57	(2.50)	6.58
SNNF	0.73	0.06	0.00	1.03	0.88	(0.88)	2.12	(1.41)	5.79
CBHC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WVFC	1.01	0.28	0.08	2.47	1.23	(1.56)	3.66	(2.06)	10.36
MKIN	0.41	0.10	0.00	0.98	0.00	0.00	1.52	(0.76)	7.23

Be your own money manager

Our tools can tell you how much better you can do entering a position in First Bancshares without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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