First Merchants Correlations

FRME Stock

USD 38.53 0.73 1.93%

The current 90-days correlation between First Merchants and First Financial Bancorp is 0.86 (i.e., Very poor diversification). The correlation of First Merchants 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 Merchants Correlation With Market

Very weak diversification

The correlation between First Merchants and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Merchants 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 Merchants. 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

0.64	BIRG	Bank of Ireland	Pair Corr
0.88	EFSC	Enterprise Financial	Pair Corr
0.81	FBNC	First Bancorp Normal Trading	Pair Corr
0.95	AUB	Atlantic Union Bankshares Earnings Call This Week	Pair Corr
0.89	CCB	Coastal Financial Corp	Pair Corr
0.96	FCF	First Commonwealth	Pair Corr
0.91	FNB	FNB Corp Earnings Call This Week	Pair Corr
0.8	HTH	Hilltop Holdings Earnings Call This Week	Pair Corr
0.89	FVCB	FVCBankcorp Earnings Call This Week	Pair Corr
0.84	LOB	Live Oak Bancshares	Pair Corr
0.63	NIC	Nicolet Bankshares Earnings Call This Week	Pair Corr
0.96	ONB	Old National Bancorp Earnings Call This Week	Pair Corr
0.86	SSB	SouthState Earnings Call This Week	Pair Corr
0.83	GABC	German American Bancorp	Pair Corr
0.91	TMP	Tompkins Financial	Pair Corr
0.63	601187	Xiamen Bank	Pair Corr
0.96	NBHC	National Bank Holdings	Pair Corr
0.93	NBTB	NBT Bancorp	Pair Corr
0.79	VBNK	VersaBank	Pair Corr
0.86	LB	Laurentian Bank	Pair Corr
0.84	AFBI	Affinity Bancshares	Pair Corr
0.8	SBFG	SB Financial Group	Pair Corr
0.69	AROW	Arrow Financial	Pair Corr
0.86	SRBK	SR Bancorp Common	Pair Corr
0.86	SRCE	1st Source Earnings Call This Week	Pair Corr
0.78	STBA	ST Bancorp Earnings Call This Week	Pair Corr
0.93	BANR	Banner Earnings Call This Week	Pair Corr
0.86	STEL	Stellar Bancorp	Pair Corr
0.61	BFIN	BankFinancial	Pair Corr
0.66	SYBT	Stock Yards Bancorp	Pair Corr
0.76	BHRB	Burke Herbert Financial Earnings Call This Week	Pair Corr
0.79	TCBK	TriCo Bancshares Earnings Call This Week	Pair Corr

Moving against First Stock

0.83	601665	Qilu Bank	Pair Corr
0.8	601658	Postal Savings Bank	Pair Corr
0.35	SFBC	Sound Financial Bancorp	Pair Corr

Related Correlations Analysis

	FFBC	WAFD	HTH	CUBI	PRK	WAL	TOWN
FFBC		0.84	0.85	0.78	0.88	0.9	0.94	FFBC
WAFD	0.84		0.94	0.85	0.62	0.9	0.75	WAFD
HTH	0.85	0.94		0.82	0.7	0.9	0.79	HTH
CUBI	0.78	0.85	0.82		0.61	0.94	0.77	CUBI
PRK	0.88	0.62	0.7	0.61		0.72	0.91	PRK
WAL	0.9	0.9	0.9	0.94	0.72		0.85	WAL
TOWN	0.94	0.75	0.79	0.77	0.91	0.85		TOWN
	FFBC	WAFD	HTH	CUBI	PRK	WAL	TOWN

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Merchants 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 Merchants' 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
FFBC	1.18	0.03	0.02	0.12	1.53	(1.48)	3.15	(1.81)	10.50
WAFD	1.19	0.18	0.10	0.36	1.20	(1.30)	3.19	(2.17)	6.44
HTH	1.12	0.09	0.05	0.20	1.31	(1.46)	2.45	(1.86)	8.69
CUBI	1.57	0.15	0.10	0.20	1.76	(1.90)	3.30	(1.99)	11.90
PRK	1.26	0.00	0.00	0.10	1.68	(1.29)	2.61	(1.81)	8.53
WAL	1.52	0.06	0.04	0.13	2.45	(1.37)	4.04	(3.36)	14.94
TOWN	1.02	0.03	0.00	0.13	1.28	(1.08)	2.74	(2.43)	7.46

First Merchants Corporate Management

Michael Stewart	Chief Banking Officer and Executive VP	Profile
John Martin	Chief Credit Officer and Executive VP	Profile
Julie Crabtree	Corporate VP	Profile
Marcos CFA	Chief Officer	Profile
Karen Evens	VP Marketing	Profile

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