First Merchants Correlations

FRME Stock

USD 38.08 0.45 1.17%

The current 90-days correlation between First Merchants and First Financial Bancorp is 0.85 (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

0.65	BIRG	Bank of Ireland	Pair Corr
0.86	AX	Axos Financial	Pair Corr
0.94	BY	Byline Bancorp Earnings Call This Week	Pair Corr
0.83	PB	Prosperity Bancshares	Pair Corr
0.9	RF	Regions Financial	Pair Corr
0.7	VABK	Virginia National Earnings Call This Week	Pair Corr
0.84	VBNK	VersaBank	Pair Corr
0.63	SANB	SANTANDER UK 8	Pair Corr
0.88	EBMT	Eagle Bancorp Montana Normal Trading	Pair Corr
0.89	EFSC	Enterprise Financial Earnings Call This Week	Pair Corr
0.89	EGBN	Eagle Bancorp Earnings Call This Week	Pair Corr
0.79	WABC	Westamerica Bancorporation	Pair Corr
0.82	WAFD	Washington Federal	Pair Corr
0.92	WASH	Washington Trust Bancorp	Pair Corr
0.93	EQBK	Equity Bancshares Earnings Call This Week	Pair Corr
0.89	EWBC	East West Bancorp Earnings Call This Week	Pair Corr
0.87	WNEB	Western New England	Pair Corr
0.97	WSBC	WesBanco	Pair Corr
0.86	WSFS	WSFS Financial Earnings Call This Week	Pair Corr
0.69	WTBA	West Bancorporation	Pair Corr
0.89	WTFC	Wintrust Financial Earnings Call Today	Pair Corr
0.9	FBIZ	First Business Financial	Pair Corr
0.87	FBLA	FB Bancorp Common	Pair Corr
0.78	FBNC	First Bancorp Normal Trading	Pair Corr
0.83	FCAP	First Capital Earnings Call This Week	Pair Corr
0.9	FCBC	First Community Banc Normal Trading	Pair Corr
0.92	FCCO	First Community	Pair Corr
0.95	FFBC	First Financial Bancorp	Pair Corr

Moving against First Stock

0.8	601658	Postal Savings Bank	Pair Corr
0.66	601997	Bank of Guiyang	Pair Corr
0.61	BEN	Bendigo and Adelaide	Pair Corr
0.42	FINW	Finwise Bancorp	Pair Corr

Related Correlations Analysis

	FFBC	BANR	EFSC	HTH	BUSE	FBNC	NBTB	CUBI	TRMK	SYBT
FFBC		0.94	0.89	0.87	0.96	0.82	0.95	0.8	0.95	0.67	FFBC
BANR	0.94		0.91	0.81	0.95	0.71	0.92	0.71	0.91	0.7	BANR
EFSC	0.89	0.91		0.67	0.86	0.62	0.83	0.6	0.85	0.81	EFSC
HTH	0.87	0.81	0.67		0.87	0.88	0.86	0.82	0.88	0.44	HTH
BUSE	0.96	0.95	0.86	0.87		0.8	0.97	0.82	0.96	0.66	BUSE
FBNC	0.82	0.71	0.62	0.88	0.8		0.86	0.86	0.88	0.54	FBNC
NBTB	0.95	0.92	0.83	0.86	0.97	0.86		0.83	0.96	0.69	NBTB
CUBI	0.8	0.71	0.6	0.82	0.82	0.86	0.83		0.88	0.42	CUBI
TRMK	0.95	0.91	0.85	0.88	0.96	0.88	0.96	0.88		0.68	TRMK
SYBT	0.67	0.7	0.81	0.44	0.66	0.54	0.69	0.42	0.68		SYBT
	FFBC	BANR	EFSC	HTH	BUSE	FBNC	NBTB	CUBI	TRMK	SYBT

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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	1.14	(0.02)	(0.01)	0.08	1.55	(1.43)	3.15	(1.81)	7.62
BANR	1.09	(0.04)	(0.04)	0.04	1.18	(1.28)	2.94	(1.87)	6.29
EFSC	1.14	(0.14)	0.00	(0.06)	0.00	0.00	2.79	(2.76)	6.43
HTH	1.08	0.05	0.02	0.15	1.31	(1.41)	2.36	(1.86)	8.69
BUSE	1.15	(0.04)	(0.02)	0.05	1.52	(1.26)	2.73	(1.92)	7.92
FBNC	1.29	0.10	0.06	0.17	1.59	(1.57)	2.93	(1.92)	8.35
NBTB	1.11	(0.02)	(0.02)	0.07	1.34	(1.26)	2.43	(2.16)	5.68
CUBI	1.53	0.12	0.09	0.17	1.75	(1.87)	3.30	(1.99)	10.59
TRMK	1.08	(0.03)	(0.01)	0.06	1.50	(1.20)	2.44	(1.88)	6.80
SYBT	1.21	(0.14)	0.00	(0.03)	0.00	0.00	3.12	(2.43)	5.97

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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