Finance Of Correlations

FOA Stock

USD 24.96 0.42 1.65%

The current 90-days correlation between Finance of America and Regional Management Corp is 0.05 (i.e., Significant diversification). The correlation of Finance Of 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.

Finance Of Correlation With Market

Good diversification

The correlation between Finance of America and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Finance of America and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Finance Stock

0.72	AXP	American Express	Pair Corr
0.62	LION	Lionsgate Studios Corp	Pair Corr
0.69	C	Citigroup Earnings Call This Week	Pair Corr
0.75	V	Visa Class A	Pair Corr
0.65	HG	Hamilton Insurance Group,	Pair Corr
0.69	LC	LendingClub Corp	Pair Corr
0.77	LX	Lexinfintech Holdings Trending	Pair Corr
0.61	PX	P10 Inc	Pair Corr
0.74	RM	Regional Management Corp Earnings Call This Week	Pair Corr

Moving against Finance Stock

0.75	KB	KB Financial Group Earnings Call This Week	Pair Corr
0.65	CB	Chubb Sell-off Trend	Pair Corr
0.39	LU	Lufax Holding	Pair Corr
0.35	AC	Associated Capital Earnings Call This Week	Pair Corr
0.33	DHIL	Diamond Hill Investment	Pair Corr
0.31	IX	Orix Corp Ads Earnings Call This Week	Pair Corr
0.87	XP	Xp Inc Normal Trading	Pair Corr
0.82	WD	Walker Dunlop	Pair Corr
0.81	NU	Nu Holdings Buyout Trend	Pair Corr
0.76	WF	Woori Financial Group Earnings Call This Week	Pair Corr
0.69	PSEC-PA	Prospect Capital Earnings Call This Week	Pair Corr
0.56	VABK	Virginia National	Pair Corr
0.52	VBNK	VersaBank	Pair Corr
0.42	RY	Royal Bank	Pair Corr
0.41	WU	Western Union Earnings Call This Week	Pair Corr

Related Correlations Analysis

	NICK	RM	IX	FCFS	EZPW	SLM	NAVI	ENVA	CPSS	WRLD
NICK		-0.56	0.08	0.1	-0.3	-0.63	0.58	-0.2	-0.3	0.14	NICK
RM	-0.56		-0.12	0.46	0.53	0.87	-0.38	0.65	0.81	0.44	RM
IX	0.08	-0.12		-0.04	0.33	-0.17	0.63	0.25	-0.16	0.18	IX
FCFS	0.1	0.46	-0.04		0.36	0.33	0.08	0.7	0.63	0.75	FCFS
EZPW	-0.3	0.53	0.33	0.36		0.67	0.11	0.74	0.44	0.4	EZPW
SLM	-0.63	0.87	-0.17	0.33	0.67		-0.41	0.68	0.69	0.25	SLM
NAVI	0.58	-0.38	0.63	0.08	0.11	-0.41		0.11	-0.29	0.3	NAVI
ENVA	-0.2	0.65	0.25	0.7	0.74	0.68	0.11		0.69	0.7	ENVA
CPSS	-0.3	0.81	-0.16	0.63	0.44	0.69	-0.29	0.69		0.65	CPSS
WRLD	0.14	0.44	0.18	0.75	0.4	0.25	0.3	0.7	0.65		WRLD
	NICK	RM	IX	FCFS	EZPW	SLM	NAVI	ENVA	CPSS	WRLD

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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

SLM	+ 0.87	RM
CPSS	+ 0.81	RM
WRLD	+ 0.75	FCFS
ENVA	+ 0.74	EZPW
ENVA	+ 0.7	FCFS
WRLD	+ 0.7	ENVA

High negative correlations

SLM	- 0.63	NICK
RM	- 0.56	NICK
NAVI	- 0.41	SLM
NAVI	- 0.38	RM
CPSS	- 0.3	NICK
EZPW	- 0.3	NICK

Risk-Adjusted Indicators

There is a big difference between Finance Stock performing well and Finance Of 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 Finance Of'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
NICK	2.01	(0.02)	0.00	0.16	0.00	0.00	4.60	(5.29)	19.87
RM	1.74	0.30	0.12	0.50	1.90	(1.93)	3.61	(4.18)	17.16
IX	1.00	(0.04)	(0.04)	0.04	1.36	(1.14)	2.35	(2.43)	8.44
FCFS	1.03	0.12	0.04	0.48	1.16	(1.10)	2.52	(2.12)	7.50
EZPW	0.91	0.10	0.02	1.16	0.89	(1.08)	2.70	(1.72)	6.72
SLM	1.67	0.37	0.21	0.79	1.23	(2.06)	3.00	(2.36)	15.02
NAVI	1.66	(0.11)	0.00	(0.14)	0.00	0.00	2.44	(3.25)	17.81
ENVA	1.55	0.31	0.17	0.43	1.45	(1.80)	3.54	(3.16)	15.35
CPSS	1.40	0.32	0.14	0.65	1.63	(1.58)	3.10	(2.85)	12.19
WRLD	1.81	0.30	0.14	0.56	1.61	(2.20)	3.69	(3.22)	20.38

Finance Of Corporate Management

Graham Fleming	Chief Officer	Profile
Christine Herman	Chief Officer	Profile
Tai Thornock	Chief Accounting Officer	Profile
Norma Corio	Independent Director	Profile
Jeremy Prahm	Chief Investment Officer	Profile
Menes Chee	Independent Director	Profile

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