First Republic Correlations

FRCCL Stock

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The current 90-days correlation between First Republic Bank and CarMax Inc is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Republic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Republic Bank moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Republic Correlation With Market

Poor diversification

The correlation between First Republic Bank and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Republic Bank and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to First Republic 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 Republic 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 Republic - 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 Republic Bank to buy it.

Moving together with First Pink Sheet

0.71	GOOG	Alphabet Class C	Pair Corr
0.81	BMYMP	Bristol Myers Squibb	Pair Corr
0.62	META	Meta Platforms	Pair Corr
0.63	TSM	Taiwan Semiconductor Aggressive Push	Pair Corr
0.7	FCAP	First Capital Downward Rally	Pair Corr
0.64	JNJ	Johnson Johnson	Pair Corr
0.74	BA	Boeing	Pair Corr
0.81	AA	Alcoa Corp	Pair Corr
0.69	DD	Dupont De Nemours Earnings Call Today	Pair Corr
0.7	MRK	Merck Company Aggressive Push	Pair Corr

Moving against First Pink Sheet

0.52	MSFT	Microsoft	Pair Corr
0.5	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	BRRAY	MSTSX	ABHYX	RRTLX	KNF	KLKNF	GBEN	QUAYX	SEGG	KMX
BRRAY		0.82	0.89	0.86	0.35	0.77	0.0	0.63	-0.23	0.8	BRRAY
MSTSX	0.82		0.68	0.99	0.32	0.86	0.0	0.74	-0.38	0.76	MSTSX
ABHYX	0.89	0.68		0.72	0.36	0.56	0.0	0.48	-0.22	0.69	ABHYX
RRTLX	0.86	0.99	0.72		0.36	0.88	0.0	0.79	-0.38	0.82	RRTLX
KNF	0.35	0.32	0.36	0.36		0.34	0.0	0.54	-0.54	0.5	KNF
KLKNF	0.77	0.86	0.56	0.88	0.34		0.0	0.75	-0.34	0.83	KLKNF
GBEN	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	GBEN
QUAYX	0.63	0.74	0.48	0.79	0.54	0.75	0.0		-0.26	0.82	QUAYX
SEGG	-0.23	-0.38	-0.22	-0.38	-0.54	-0.34	0.0	-0.26		-0.27	SEGG
KMX	0.8	0.76	0.69	0.82	0.5	0.83	0.0	0.82	-0.27		KMX
	BRRAY	MSTSX	ABHYX	RRTLX	KNF	KLKNF	GBEN	QUAYX	SEGG	KMX

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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

RRTLX	+ 0.99	MSTSX
ABHYX	+ 0.89	BRRAY
KLKNF	+ 0.88	RRTLX
RRTLX	+ 0.86	BRRAY
KLKNF	+ 0.86	MSTSX
KMX	+ 0.83	KLKNF

High negative correlations

SEGG	- 0.54	KNF
SEGG	- 0.38	RRTLX
SEGG	- 0.38	MSTSX
SEGG	- 0.34	KLKNF
KMX	- 0.27	SEGG
SEGG	- 0.26	QUAYX

Risk-Adjusted Indicators

There is a big difference between First Pink Sheet performing well and First Republic 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 Republic'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
BRRAY	5.76	2.10	0.18	1.11	3.11	(29.13)	17.76	(10.94)	120.98
MSTSX	0.67	0.14	0.16	0.26	0.34	(0.82)	1.45	(1.01)	12.28
ABHYX	0.08	0.00	(0.29)	0.37	0.00	(0.17)	0.23	(0.12)	0.92
RRTLX	0.28	0.04	(0.03)	0.19	0.08	(0.35)	0.58	(0.49)	3.30
KNF	2.18	0.29	0.14	0.24	2.21	(2.60)	5.34	(3.57)	16.62
KLKNF	2.40	1.31	0.00	(2.06)	0.00	0.00	3.58	0.00	56.35
GBEN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QUAYX	1.21	(0.05)	(0.01)	0.04	1.70	(1.15)	2.08	(2.41)	6.54
SEGG	10.53	(0.55)	0.00	(0.68)	0.00	0.00	28.00	(16.76)	101.30
KMX	2.33	0.13	0.04	0.15	5.18	(2.20)	5.33	(3.79)	24.48

First Republic Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with First Republic pink sheet to make a market-neutral strategy. Peer analysis of First Republic could also be used in its relative valuation, which is a method of valuing First Republic by comparing valuation metrics with similar companies.

Barloworld Ltd ADR Morningstar Unconstrained Allocation High Yield Municipal Fund T Rowe Price Knife River Klckner Co SE Global Resource Ener Ab Small Cap Lottery CarMax Inc American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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