First Merchants Correlations

FRMEP Stock

USD 25.84 0.25 0.98%

The current 90-days correlation between First Merchants and Merchants Bancorp is -0.24 (i.e., Very good 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Merchants Correlation With Market

Very good diversification

The correlation between First Merchants and DJI is -0.24 (i.e., Very good 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 american community survey.

To learn how to invest in First Stock, please use our How to Invest in First Merchants guide.

Moving together with First Stock

0.66	ECBK	ECB Bancorp	Pair Corr
0.78	002142	Bank of Ningbo	Pair Corr
0.65	601997	Bank of Guiyang	Pair Corr
0.64	TFINP	Triumph Financial	Pair Corr

Moving against First Stock

0.74	EFSC	Enterprise Financial	Pair Corr
0.59	EGBN	Eagle Bancorp	Pair Corr
0.49	BEN	Bendigo and Adelaide	Pair Corr
0.39	AX	Axos Financial	Pair Corr
0.32	HSBK	Halyk Bank	Pair Corr
0.8	FFIN	First Financial Bank	Pair Corr
0.71	FGBI	First Guaranty Bancshares	Pair Corr
0.63	FMNB	Farmers National Banc	Pair Corr
0.52	AUB	Atlantic Union Bankshares	Pair Corr
0.5	FFWM	First Foundation	Pair Corr
0.43	FCBC	First Community Banc	Pair Corr
0.41	CFR	CullenFrost Bankers	Pair Corr
0.38	FFBC	First Financial Bancorp	Pair Corr

Related Correlations Analysis

	MBIN	SRCE	LKFN	FCF	STBA	GABC	BLX	STEL	TCBK	WAFD
MBIN		0.89	0.03	0.74	0.83	0.86	0.24	0.83	0.83	0.79	MBIN
SRCE	0.89		-0.04	0.74	0.98	0.93	0.32	0.9	0.96	0.96	SRCE
LKFN	0.03	-0.04		0.57	-0.17	0.01	0.54	0.08	-0.24	-0.16	LKFN
FCF	0.74	0.74	0.57		0.64	0.72	0.56	0.74	0.6	0.66	FCF
STBA	0.83	0.98	-0.17	0.64		0.89	0.25	0.89	0.98	0.97	STBA
GABC	0.86	0.93	0.01	0.72	0.89		0.3	0.81	0.88	0.85	GABC
BLX	0.24	0.32	0.54	0.56	0.25	0.3		0.37	0.18	0.25	BLX
STEL	0.83	0.9	0.08	0.74	0.89	0.81	0.37		0.88	0.87	STEL
TCBK	0.83	0.96	-0.24	0.6	0.98	0.88	0.18	0.88		0.97	TCBK
WAFD	0.79	0.96	-0.16	0.66	0.97	0.85	0.25	0.87	0.97		WAFD
	MBIN	SRCE	LKFN	FCF	STBA	GABC	BLX	STEL	TCBK	WAFD

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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

STBA	+ 0.98	SRCE
TCBK	+ 0.98	STBA
WAFD	+ 0.97	STBA
WAFD	+ 0.97	TCBK
TCBK	+ 0.96	SRCE
WAFD	+ 0.96	SRCE

High negative correlations

TCBK	- 0.24	LKFN
STBA	- 0.17	LKFN
WAFD	- 0.16	LKFN
LKFN	- 0.04	SRCE

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
MBIN	1.18	(0.01)	0.01	0.07	1.52	(1.21)	2.81	(2.63)	8.29
SRCE	1.06	(0.02)	(0.02)	0.05	1.35	(1.14)	2.23	(2.56)	6.47
LKFN	1.18	(0.20)	0.00	(0.12)	0.00	0.00	2.07	(3.07)	8.30
FCF	1.14	(0.08)	(0.05)	(0.01)	1.70	(1.25)	2.92	(3.10)	8.48
STBA	1.14	0.01	0.01	0.09	1.63	(1.17)	2.19	(2.94)	8.23
GABC	1.04	(0.06)	(0.05)	0.01	1.25	(1.25)	2.70	(2.70)	6.66
BLX	0.81	(0.10)	0.00	(0.11)	0.00	0.00	1.59	(1.43)	7.51
STEL	1.04	(0.02)	(0.02)	0.05	1.52	(1.06)	2.45	(1.75)	9.20
TCBK	1.18	0.03	0.03	0.10	1.48	(1.21)	3.41	(2.09)	8.88
WAFD	1.11	0.06	0.03	0.18	1.28	(1.20)	3.19	(2.17)	6.44

First Merchants Corporate Management

Julie Crabtree	Corporate VP	Profile
Michael Rechin	Advisor Director	Profile
Marcos CFA	Chief Officer	Profile
Michael Stewart	President	Profile
Steven Harris	Senior Officer	Profile
John Martin	Executive Officer	Profile
Karen Evens	VP Marketing	Profile

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