First Niles Correlations

FNFI Stock

USD 8.04 0.06 0.74%

The current 90-days correlation between First Niles Financial and Southern Banc is -0.32 (i.e., Very good diversification). The correlation of First Niles 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 Niles Correlation With Market

Good diversification

The correlation between First Niles Financial and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Niles Financial and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to First Niles 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 Niles 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 Niles - 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 Niles Financial to buy it.

Moving together with First Pink Sheet

0.64

AMBR

Amber International Symbol Change

Pair Corr

Moving against First Pink Sheet

0.33	GJR	Strats SM Trust	Pair Corr
0.39	HAVLF	HAVN Life Sciences	Pair Corr
0.37	SOHOO	Sotherly Hotels Pref	Pair Corr
0.37	MH	McGraw Hill	Pair Corr

Related Correlations Analysis

	FSGB	FPBC	USMT	SRNN	TDCB	MFDB	ASCN	FCPB	LBNW	CABB
FSGB		0.53	0.2	-0.05	0.37	-0.41	0.35	-0.16	0.46	0.0	FSGB
FPBC	0.53		-0.03	-0.11	0.28	-0.46	-0.17	-0.33	0.02	0.0	FPBC
USMT	0.2	-0.03		0.11	0.11	0.23	0.23	-0.26	0.52	0.0	USMT
SRNN	-0.05	-0.11	0.11		-0.21	0.22	0.0	-0.17	-0.24	0.0	SRNN
TDCB	0.37	0.28	0.11	-0.21		-0.7	0.21	-0.3	0.52	0.0	TDCB
MFDB	-0.41	-0.46	0.23	0.22	-0.7		0.07	0.2	-0.24	0.0	MFDB
ASCN	0.35	-0.17	0.23	0.0	0.21	0.07		-0.05	0.7	0.0	ASCN
FCPB	-0.16	-0.33	-0.26	-0.17	-0.3	0.2	-0.05		-0.11	0.0	FCPB
LBNW	0.46	0.02	0.52	-0.24	0.52	-0.24	0.7	-0.11		0.0	LBNW
CABB	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CABB
	FSGB	FPBC	USMT	SRNN	TDCB	MFDB	ASCN	FCPB	LBNW	CABB

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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

LBNW	+ 0.7	ASCN
FPBC	+ 0.53	FSGB
LBNW	+ 0.52	USMT
LBNW	+ 0.52	TDCB
LBNW	+ 0.46	FSGB
TDCB	+ 0.37	FSGB

High negative correlations

MFDB	- 0.7	TDCB
MFDB	- 0.46	FPBC
MFDB	- 0.41	FSGB
FCPB	- 0.33	FPBC
FCPB	- 0.3	TDCB
FCPB	- 0.26	USMT

Risk-Adjusted Indicators

There is a big difference between First Pink Sheet performing well and First Niles 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 Niles' 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
FSGB	0.21	0.04	0.00	(0.46)	0.00	0.00	1.05	0.00	4.26
FPBC	0.39	(0.04)	0.00	0.23	0.00	0.00	0.97	(1.50)	5.29
USMT	0.63	0.14	0.04	1.91	0.72	(1.75)	1.75	(0.98)	9.15
SRNN	0.46	0.03	0.00	0.32	0.00	0.00	2.65	(0.40)	10.73
TDCB	0.77	0.00	(0.03)	0.05	1.10	(1.61)	3.30	(3.19)	8.60
MFDB	0.28	0.03	0.00	(0.06)	0.00	0.00	0.00	0.00	11.49
ASCN	0.63	0.11	0.02	0.86	0.98	(2.44)	1.02	(1.01)	17.41
FCPB	0.68	0.02	(0.02)	0.01	1.46	(1.61)	1.96	(2.13)	12.90
LBNW	0.09	0.04	0.00	1.32	0.00	0.00	0.65	0.00	0.83
CABB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

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