FNB Correlations

FIDS Stock

USD 26.00 0.01 0.04%

The current 90-days correlation between FNB Inc and Town Center Bank is -0.18 (i.e., Good diversification). The correlation of FNB 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. If the correlation is 0, the equities are not correlated; they are entirely random.

FNB Correlation With Market

Significant diversification

The correlation between FNB Inc and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FNB Inc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to FNB could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FNB 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 FNB - 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 FNB Inc to buy it.

Moving together with FNB Pink Sheet

0.64	CIHHF	China Merchants Bank	Pair Corr
0.88	MFG	Mizuho Financial	Pair Corr
0.77	BNPQY	BNP Paribas SA	Pair Corr
0.88	WMT	Walmart Common Stock	Pair Corr
0.66	SAR	Saratoga Investment Corp Earnings Call Today	Pair Corr
0.86	ACN	Accenture plc	Pair Corr
0.88	VLKAF	Volkswagen AG	Pair Corr
0.9	VWAGY	Volkswagen AG 110	Pair Corr
0.87	VLKPF	Volkswagen AG VZO	Pair Corr
0.88	FTV	Fortive Corp	Pair Corr
0.86	AA	Alcoa Corp	Pair Corr
0.69	CAT	Caterpillar	Pair Corr
0.7	CSCO	Cisco Systems	Pair Corr
0.61	MCD	McDonalds	Pair Corr
0.82	JNJ	Johnson Johnson	Pair Corr
0.7	DD	Dupont De Nemours	Pair Corr
0.65	AXP	American Express	Pair Corr

Moving against FNB Pink Sheet

0.67	JD	JD Inc Adr Sell-off Trend	Pair Corr
0.55	IBN	ICICI Bank Limited	Pair Corr
0.49	HNHPF	Hon Hai Precision	Pair Corr
0.48	USB-PH	US Bancorp	Pair Corr
0.77	PG	Procter Gamble	Pair Corr
0.59	HD	Home Depot	Pair Corr
0.56	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	TCNB	GOVB	TVLF	HRBK	MSBB	CTYP	EBSH	GVFF	FLEW	UNTN
TCNB		-0.29	-0.31	0.33	-0.22	-0.12	0.3	-0.1	-0.15	-0.2	TCNB
GOVB	-0.29		0.39	-0.82	0.8	0.85	-0.78	0.14	0.64	0.91	GOVB
TVLF	-0.31	0.39		-0.46	0.21	0.27	-0.26	0.06	0.19	0.22	TVLF
HRBK	0.33	-0.82	-0.46		-0.55	-0.56	0.61	-0.3	-0.4	-0.65	HRBK
MSBB	-0.22	0.8	0.21	-0.55		0.74	-0.61	0.17	0.58	0.79	MSBB
CTYP	-0.12	0.85	0.27	-0.56	0.74		-0.74	-0.04	0.41	0.83	CTYP
EBSH	0.3	-0.78	-0.26	0.61	-0.61	-0.74		0.05	-0.58	-0.73	EBSH
GVFF	-0.1	0.14	0.06	-0.3	0.17	-0.04	0.05		-0.03	-0.01	GVFF
FLEW	-0.15	0.64	0.19	-0.4	0.58	0.41	-0.58	-0.03		0.64	FLEW
UNTN	-0.2	0.91	0.22	-0.65	0.79	0.83	-0.73	-0.01	0.64		UNTN
	TCNB	GOVB	TVLF	HRBK	MSBB	CTYP	EBSH	GVFF	FLEW	UNTN

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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

UNTN	+ 0.91	GOVB
CTYP	+ 0.85	GOVB
UNTN	+ 0.83	CTYP
MSBB	+ 0.8	GOVB
UNTN	+ 0.79	MSBB
CTYP	+ 0.74	MSBB

High negative correlations

HRBK	- 0.82	GOVB
EBSH	- 0.78	GOVB
EBSH	- 0.74	CTYP
UNTN	- 0.73	EBSH
UNTN	- 0.65	HRBK
EBSH	- 0.61	MSBB

Risk-Adjusted Indicators

There is a big difference between FNB Pink Sheet performing well and FNB 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 FNB'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
TCNB	0.37	0.03	(0.06)	(0.10)	0.52	(1.14)	1.51	(1.15)	4.64
GOVB	0.82	0.32	0.11	14.97	0.35	(2.02)	3.52	(1.77)	10.76
TVLF	0.39	0.01	0.00	0.10	0.00	0.00	0.12	0.00	15.18
HRBK	0.67	(0.14)	0.00	(0.38)	0.00	0.00	1.60	(2.67)	9.91
MSBB	0.15	0.02	(0.10)	(0.18)	0.17	(0.75)	0.51	(0.33)	2.60
CTYP	1.41	0.32	0.04	(0.57)	1.95	(2.61)	5.45	(4.00)	13.85
EBSH	0.05	(0.02)	0.00	(0.36)	0.00	0.00	0.00	0.00	1.21
GVFF	0.29	(0.02)	0.00	(0.54)	0.00	0.00	0.00	(0.15)	8.83
FLEW	2.16	0.59	0.07	(7.53)	2.55	(7.70)	9.70	(4.09)	32.48
UNTN	0.42	0.15	0.05	3.42	0.00	(1.40)	1.53	(0.10)	5.86

Be your own money manager

Our tools can tell you how much better you can do entering a position in FNB 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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