FNB Correlations

FIDS Stock

USD 24.87 0.00 0.00%

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

Very poor diversification

The correlation between FNB Inc and DJI is 0.8 (i.e., Very poor 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

0.81	MFG	Mizuho Financial Earnings Call This Week	Pair Corr
0.89	PNC	PNC Financial Services	Pair Corr
0.72	MUFG	Mitsubishi UFJ Financial	Pair Corr
0.7	WF	Woori Financial Group	Pair Corr
0.79	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.77	DD	Dupont De Nemours	Pair Corr
0.91	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.86	MRK	Merck Company Earnings Call This Week	Pair Corr
0.85	AA	Alcoa Corp	Pair Corr

Moving against FNB Pink Sheet

0.7	VFSWW	VinFast Auto	Pair Corr
0.62	HDB	HDFC Bank Limited	Pair Corr
0.33	IBN	ICICI Bank Limited	Pair Corr
0.61	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	TCNB	GOVB	TVLF	HRBK	MSBB	CTYP	EBSH	GVFF	FLEW	UNTN
TCNB		0.13	-0.1	0.43	0.3	0.07	0.43	-0.32	0.39	0.25	TCNB
GOVB	0.13		0.17	-0.36	0.85	0.81	-0.4	-0.03	0.7	0.94	GOVB
TVLF	-0.1	0.17		-0.45	0.2	0.13	-0.05	0.02	-0.13	0.24	TVLF
HRBK	0.43	-0.36	-0.45		-0.23	-0.25	0.39	-0.52	0.12	-0.27	HRBK
MSBB	0.3	0.85	0.2	-0.23		0.68	-0.16	-0.19	0.64	0.88	MSBB
CTYP	0.07	0.81	0.13	-0.25	0.68		-0.54	-0.06	0.39	0.77	CTYP
EBSH	0.43	-0.4	-0.05	0.39	-0.16	-0.54		-0.19	-0.1	-0.28	EBSH
GVFF	-0.32	-0.03	0.02	-0.52	-0.19	-0.06	-0.19		-0.31	-0.19	GVFF
FLEW	0.39	0.7	-0.13	0.12	0.64	0.39	-0.1	-0.31		0.71	FLEW
UNTN	0.25	0.94	0.24	-0.27	0.88	0.77	-0.28	-0.19	0.71		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	+ 0.94	GOVB
UNTN	+ 0.88	MSBB
MSBB	+ 0.85	GOVB
CTYP	+ 0.81	GOVB
UNTN	+ 0.77	CTYP
UNTN	+ 0.71	FLEW

High negative correlations

EBSH	- 0.54	CTYP
GVFF	- 0.52	HRBK
HRBK	- 0.45	TVLF
EBSH	- 0.4	GOVB
HRBK	- 0.36	GOVB
GVFF	- 0.32	TCNB

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	0.35	(0.02)	0.00	0.49	0.00	0.00	1.33	(1.15)	4.98
GOVB	0.85	0.37	0.15	(6.17)	0.20	(2.02)	3.52	(0.87)	10.76
TVLF	0.38	0.09	0.00	0.29	0.00	0.00	0.46	(0.12)	7.60
HRBK	1.08	(0.25)	0.00	(1.01)	0.00	0.00	1.60	(5.00)	19.98
MSBB	0.23	0.10	0.00	(0.39)	0.00	0.00	1.23	(0.31)	2.60
CTYP	1.20	0.29	0.04	(0.46)	1.66	(3.10)	5.45	(3.52)	23.19
EBSH	0.04	(0.01)	0.00	(0.24)	0.00	0.00	0.00	0.00	1.21
GVFF	0.28	0.04	0.00	(0.04)	0.00	0.00	0.00	(0.15)	8.83
FLEW	2.02	0.32	0.03	0.47	3.14	(9.89)	9.70	(3.00)	43.13
UNTN	0.40	0.16	0.00	(4.52)	0.00	0.00	1.53	(0.10)	5.31

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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