First Bancorp Correlations

FNLC Stock

USD 26.85 0.07 0.26%

The current 90-days correlation between First Bancorp and Colony Bankcorp is 0.84 (i.e., Very poor diversification). The correlation of First Bancorp 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 Bancorp Correlation With Market

Very weak diversification

The correlation between First Bancorp and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Bancorp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For information on how to trade First Stock refer to our How to Trade First Stock guide.

Moving together with First Stock

0.61	BIRG	Bank of Ireland	Pair Corr
0.76	AX	Axos Financial	Pair Corr
0.94	BY	Byline Bancorp	Pair Corr
0.83	PB	Prosperity Bancshares	Pair Corr
0.88	RF	Regions Financial	Pair Corr
0.77	VABK	Virginia National	Pair Corr
0.86	VBNK	VersaBank	Pair Corr
0.65	SANB	SANTANDER UK 8	Pair Corr
0.9	EBMT	Eagle Bancorp Montana	Pair Corr
0.81	WABC	Westamerica Bancorporation	Pair Corr
0.83	WAFD	Washington Federal	Pair Corr
0.91	WASH	Washington Trust Bancorp	Pair Corr
0.86	EQBK	Equity Bancshares,	Pair Corr
0.88	EWBC	East West Bancorp	Pair Corr
0.91	WNEB	Western New England	Pair Corr
0.83	WSBC	WesBanco	Pair Corr
0.86	WSFS	WSFS Financial	Pair Corr
0.76	WTBA	West Bancorporation	Pair Corr
0.87	WTFC	Wintrust Financial	Pair Corr
0.93	FBIZ	First Business Financial	Pair Corr
0.86	FBLA	FB Bancorp, Common	Pair Corr
0.77	FBNC	First Bancorp	Pair Corr
0.92	FCAP	First Capital	Pair Corr
0.82	FCBC	First Community Banc	Pair Corr
0.93	FCCO	First Community	Pair Corr
0.91	FDBC	Fidelity DD Bancorp	Pair Corr
0.8	FFBC	First Financial Bancorp	Pair Corr

Moving against First Stock

0.61	601658	Postal Savings Bank	Pair Corr
0.59	BEN	Bendigo and Adelaide	Pair Corr
0.49	FGBI	First Guaranty Bancshares	Pair Corr

Related Correlations Analysis

	CBAN	PLBC	FSBW	WSBF	TSBK	CZFS	CZNC	COSO	NECB	JMSB
CBAN		0.95	0.9	0.9	0.93	0.82	0.92	0.95	0.93	0.88	CBAN
PLBC	0.95		0.91	0.91	0.95	0.75	0.94	0.94	0.92	0.88	PLBC
FSBW	0.9	0.91		0.92	0.94	0.79	0.91	0.88	0.87	0.92	FSBW
WSBF	0.9	0.91	0.92		0.96	0.73	0.96	0.9	0.91	0.84	WSBF
TSBK	0.93	0.95	0.94	0.96		0.76	0.96	0.91	0.91	0.87	TSBK
CZFS	0.82	0.75	0.79	0.73	0.76		0.72	0.75	0.69	0.8	CZFS
CZNC	0.92	0.94	0.91	0.96	0.96	0.72		0.91	0.95	0.84	CZNC
COSO	0.95	0.94	0.88	0.9	0.91	0.75	0.91		0.93	0.83	COSO
NECB	0.93	0.92	0.87	0.91	0.91	0.69	0.95	0.93		0.78	NECB
JMSB	0.88	0.88	0.92	0.84	0.87	0.8	0.84	0.83	0.78		JMSB
	CBAN	PLBC	FSBW	WSBF	TSBK	CZFS	CZNC	COSO	NECB	JMSB

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Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Bancorp 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 Bancorp'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
CBAN	1.16	(0.04)	(0.02)	0.04	1.66	(1.14)	2.41	(2.60)	9.25
PLBC	0.91	0.02	0.01	0.11	0.96	(0.97)	2.75	(1.62)	5.11
FSBW	1.24	0.01	(0.01)	0.09	1.31	(1.48)	3.28	(2.51)	10.30
WSBF	0.98	(0.03)	(0.03)	0.04	1.19	(1.09)	2.54	(2.35)	6.37
TSBK	1.13	0.02	0.00	0.10	1.35	(1.24)	2.75	(2.43)	8.74
CZFS	1.72	(0.09)	0.00	(0.06)	0.00	0.00	3.96	(3.43)	10.15
CZNC	0.89	0.03	0.00	0.12	1.21	(0.95)	1.69	(1.71)	7.23
COSO	0.83	0.06	0.01	0.22	1.14	(0.91)	2.99	(2.43)	6.77
NECB	1.42	0.08	0.05	0.15	1.87	(1.40)	3.71	(3.31)	7.70
JMSB	1.65	(0.02)	(0.03)	0.03	2.13	(1.78)	3.37	(2.87)	15.99

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