FNB Correlations

FIDS Stock

USD 22.41 0.24 1.06%

The current 90-days correlation between FNB Inc and Pinnacle Bancshares is -0.02 (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 0.09 (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

0.66	HDB	HDFC Bank Limited	Pair Corr
0.66	IBN	ICICI Bank Limited	Pair Corr
0.69	INTC	Intel	Pair Corr
0.68	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.78	HPQ	HP Inc	Pair Corr
0.64	PG	Procter Gamble	Pair Corr

Moving against FNB Pink Sheet

0.82	CIHKY	China Merchants Bank Normal Trading	Pair Corr
0.81	COHG	Cheetah Oil Gas	Pair Corr
0.79	FSTF	First State Financial	Pair Corr
0.74	LPTH	LightPath Technologies Earnings Call This Week	Pair Corr
0.48	USB-PH	US Bancorp	Pair Corr
0.48	CHKP	Check Point Software Earnings Call This Week	Pair Corr
0.35	BBAS3	Banco do Brasil	Pair Corr
0.32	FITBP	Fifth Third Bancorp	Pair Corr
0.84	GILT	Gilat Satellite Networks	Pair Corr
0.68	MMM	3M Company	Pair Corr
0.58	BAMXF	Bayerische Motoren Werke	Pair Corr
0.54	CSCO	Cisco Systems	Pair Corr
0.44	V	Visa Class A	Pair Corr
0.41	GILD	Gilead Sciences Earnings Call This Week	Pair Corr
0.33	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.31	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	PCLB	CYFL	APLO	CEFC	EFIN	MIFF	CTYP	FBPA	CCFC
PCLB		0.25	-0.35	0.45	0.44	0.48	0.67	0.29	-0.55	PCLB
CYFL	0.25		-0.57	0.81	0.65	0.26	0.68	0.38	-0.69	CYFL
APLO	-0.35	-0.57		-0.71	-0.42	-0.59	-0.59	-0.46	0.66	APLO
CEFC	0.45	0.81	-0.71		0.7	0.45	0.83	0.61	-0.82	CEFC
EFIN	0.44	0.65	-0.42	0.7		0.42	0.75	0.52	-0.73	EFIN
MIFF	0.48	0.26	-0.59	0.45	0.42		0.65	0.53	-0.65	MIFF
CTYP	0.67	0.68	-0.59	0.83	0.75	0.65		0.64	-0.84	CTYP
FBPA	0.29	0.38	-0.46	0.61	0.52	0.53	0.64		-0.65	FBPA
CCFC	-0.55	-0.69	0.66	-0.82	-0.73	-0.65	-0.84	-0.65		CCFC
	PCLB	CYFL	APLO	CEFC	EFIN	MIFF	CTYP	FBPA	CCFC

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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

CTYP	+ 0.83	CEFC
CEFC	+ 0.81	CYFL
CTYP	+ 0.75	EFIN
EFIN	+ 0.7	CEFC
CTYP	+ 0.68	CYFL
CTYP	+ 0.67	PCLB

High negative correlations

CCFC	- 0.84	CTYP
CCFC	- 0.82	CEFC
CCFC	- 0.73	EFIN
CEFC	- 0.71	APLO
CCFC	- 0.69	CYFL
CCFC	- 0.65	FBPA

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
PCLB	1.16	(0.20)	0.00	(1.15)	0.00	0.00	4.80	(3.32)	8.12
CYFL	1.08	0.26	0.09	1.88	0.84	(2.52)	3.90	(2.00)	9.64
APLO	0.93	(0.20)	0.00	(0.46)	0.00	0.00	1.64	(2.69)	10.50
CEFC	1.02	0.23	0.06	(1.08)	1.18	(1.69)	2.18	(2.29)	8.82
EFIN	0.54	0.15	0.04	0.69	0.51	(1.36)	2.03	(1.02)	7.18
MIFF	1.42	0.06	(0.02)	(0.04)	2.19	(2.50)	3.32	(4.73)	11.64
CTYP	1.09	0.41	0.08	(1.41)	0.96	(3.36)	3.09	(0.80)	11.88
FBPA	0.35	0.02	(0.06)	(2.55)	0.56	(0.81)	1.75	(0.98)	3.73
CCFC	0.64	(0.27)	0.00	(63.30)	0.00	0.00	0.47	(1.89)	13.56

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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