First Savings Correlations

FSFG Stock

USD 33.98 1.08 3.28%

The current 90-days correlation between First Savings Financial and BlackRock Credit Allocation is -0.04 (i.e., Good diversification). The correlation of First Savings 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 Savings Correlation With Market

Poor diversification

The correlation between First Savings Financial and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Savings Financial and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with First Stock

0.79	BNPH	BNP PARIBAS ADR	Pair Corr
0.68	AX	Axos Financial	Pair Corr
0.63	KBN	Komplett Bank ASA	Pair Corr
0.63	HH1	Hancock Whitney	Pair Corr
0.74	BCVN	Banque Cantonale Vaudoise	Pair Corr
0.83	LLBN	Liechtensteinische	Pair Corr
0.74	VBNK	VersaBank	Pair Corr
0.79	SANB	SANTANDER UK 8	Pair Corr
0.78	BEN	Bendigo and Adelaide	Pair Corr
0.69	B4M1	SpareBank 1 SR	Pair Corr
0.73	UIO	ATLANTIC UNION BANKSDL	Pair Corr
0.64	WBCPK	Westpac Banking	Pair Corr
0.87	FRYA	Swedbank AB	Pair Corr
0.61	CBAPM	Commonwealth Bank	Pair Corr
0.62	BRE	Banco Bradesco SA	Pair Corr
0.71	EBMT	Eagle Bancorp Montana	Pair Corr
0.81	BNP	BNP Paribas SA	Pair Corr
0.71	EGBN	Eagle Bancorp	Pair Corr
0.66	HSBK	Halyk Bank	Pair Corr
0.74	BCGE	Banque Cantonale Earnings Call This Week	Pair Corr

Moving against First Stock

0.44	3YB	Postal Savings Bank	Pair Corr
0.33	VABK	Virginia National	Pair Corr

Related Correlations Analysis

	BTZ	TQSMX	APHQX	RGHYX	RNP	FHYTX	HRTVX	DHMIX	FFC
BTZ		0.1	-0.4	0.17	0.45	0.08	0.13	-0.03	0.35	BTZ
TQSMX	0.1		0.55	0.92	0.75	0.86	0.98	0.95	0.83	TQSMX
APHQX	-0.4	0.55		0.48	-0.03	0.65	0.48	0.68	0.2	APHQX
RGHYX	0.17	0.92	0.48		0.7	0.9	0.9	0.86	0.82	RGHYX
RNP	0.45	0.75	-0.03	0.7		0.55	0.8	0.65	0.78	RNP
FHYTX	0.08	0.86	0.65	0.9	0.55		0.81	0.88	0.68	FHYTX
HRTVX	0.13	0.98	0.48	0.9	0.8	0.81		0.92	0.87	HRTVX
DHMIX	-0.03	0.95	0.68	0.86	0.65	0.88	0.92		0.71	DHMIX
FFC	0.35	0.83	0.2	0.82	0.78	0.68	0.87	0.71		FFC
	BTZ	TQSMX	APHQX	RGHYX	RNP	FHYTX	HRTVX	DHMIX	FFC

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

HRTVX	+ 0.98	TQSMX
DHMIX	+ 0.95	TQSMX
RGHYX	+ 0.92	TQSMX
DHMIX	+ 0.92	HRTVX
FHYTX	+ 0.9	RGHYX
HRTVX	+ 0.9	RGHYX

High negative correlations

APHQX	- 0.4	BTZ
RNP	- 0.03	APHQX
DHMIX	- 0.03	BTZ

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Savings 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 Savings' 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
BTZ	0.29	(0.02)	0.00	1.15	0.00	0.00	0.57	(0.57)	1.68
TQSMX	0.69	0.08	0.09	0.11	0.71	(0.77)	1.23	(1.27)	5.56
APHQX	0.80	0.04	0.05	0.07	0.84	(0.97)	1.55	(1.76)	9.41
RGHYX	0.10	0.01	(0.10)	(0.65)	0.08	(0.14)	0.20	(0.20)	1.11
RNP	0.60	0.10	0.10	0.44	0.54	(0.65)	1.38	(1.02)	3.20
FHYTX	0.14	0.01	(0.10)	0.07	0.01	(0.23)	0.31	(0.31)	1.09
HRTVX	0.72	0.18	0.22	0.21	0.55	(0.83)	1.69	(1.67)	4.66
DHMIX	0.68	0.03	0.04	0.07	0.73	(0.77)	1.62	(1.47)	4.09
FFC	0.31	0.01	(0.05)	0.12	0.34	(0.35)	0.67	(0.66)	2.02

First Savings 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 Savings stock to make a market-neutral strategy. Peer analysis of First Savings could also be used in its relative valuation, which is a method of valuing First Savings by comparing valuation metrics with similar companies.

BlackRock Credit Allocation T Rowe Price Artisan Mid Cap Rbc Bluebay Global Cohen Steers Reit Federated High Yield Heartland Value Fund Diamond Hill Small Mid Flaherty Crumrine Preferred American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

First Savings Corporate Management

CPA CPA	CFO VP	Profile
Derrick CCIM	Chief bank	Profile
Lenfield Basham	Executive Officer	Profile
Jacqueline CPA	Chief Officer	Profile

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