First United Correlations

FUNC Stock

USD 38.92 0.68 1.72%

The current 90-days correlation between First United and Investar Holding Corp is 0.73 (i.e., Poor diversification). The correlation of First United 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 United Correlation With Market

Very weak diversification

The correlation between First United and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First United 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 United. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For information on how to trade First Stock refer to our How to Trade First Stock guide.

Moving together with First Stock

0.8	VABK	Virginia National	Pair Corr
0.71	ASB	Associated Banc Corp Normal Trading	Pair Corr
0.83	CPF	Central Pacific Financial	Pair Corr
0.67	HWC	Hancock Whitney Corp	Pair Corr
0.62	MCB	Metropolitan Bank Holding	Pair Corr
0.7	WBS	Webster Financial	Pair Corr
0.75	HFWA	Heritage Financial Normal Trading	Pair Corr
0.82	HWBK	Hawthorn Bancshares	Pair Corr
0.8	IBOC	International Bancshares	Pair Corr
0.72	ISTR	Investar Holding Corp	Pair Corr
0.83	LCNB	LCNB	Pair Corr
0.65	AROW	Arrow Financial	Pair Corr
0.67	TCBI	Texas Capital Bancshares	Pair Corr
0.7	BPRN	Bank Of Princeton	Pair Corr
0.68	TFSL	TFS Financial	Pair Corr
0.91	BWFG	Bankwell Financial	Pair Corr
0.68	CFFI	CF Financial	Pair Corr
0.61	LNDNF	Lundin Energy AB	Pair Corr
0.82	FCAP	First Capital	Pair Corr

Moving against First Stock

0.65	3YB	Postal Savings Bank	Pair Corr
0.38	BKLRF	Berkeley Energy	Pair Corr

Related Correlations Analysis

	ISTR	LCNB	OVLY	CFFI	FVCB	FSFG	VABK	HWBK	BPRN	PVBC
ISTR		0.94	0.91	0.78	0.96	0.83	0.64	0.63	0.91	0.03	ISTR
LCNB	0.94		0.86	0.81	0.88	0.73	0.71	0.7	0.92	0.01	LCNB
OVLY	0.91	0.86		0.83	0.97	0.74	0.58	0.47	0.89	0.1	OVLY
CFFI	0.78	0.81	0.83		0.78	0.56	0.79	0.72	0.73	0.19	CFFI
FVCB	0.96	0.88	0.97	0.78		0.78	0.56	0.53	0.9	0.09	FVCB
FSFG	0.83	0.73	0.74	0.56	0.78		0.43	0.42	0.69	-0.22	FSFG
VABK	0.64	0.71	0.58	0.79	0.56	0.43		0.76	0.58	0.07	VABK
HWBK	0.63	0.7	0.47	0.72	0.53	0.42	0.76		0.51	0.14	HWBK
BPRN	0.91	0.92	0.89	0.73	0.9	0.69	0.58	0.51		-0.02	BPRN
PVBC	0.03	0.01	0.1	0.19	0.09	-0.22	0.07	0.14	-0.02		PVBC
	ISTR	LCNB	OVLY	CFFI	FVCB	FSFG	VABK	HWBK	BPRN	PVBC

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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

FVCB	+ 0.97	OVLY
FVCB	+ 0.96	ISTR
LCNB	+ 0.94	ISTR
BPRN	+ 0.92	LCNB
OVLY	+ 0.91	ISTR
BPRN	+ 0.91	ISTR

High negative correlations

PVBC	- 0.22	FSFG
PVBC	- 0.02	BPRN

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First United 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 United'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
ISTR	0.97	0.31	0.32	0.48	0.44	(1.19)	2.78	(1.30)	5.37
LCNB	1.30	0.17	0.09	0.37	1.29	(1.57)	2.81	(2.13)	8.02
OVLY	1.15	0.25	0.21	0.41	0.70	(1.44)	2.88	(1.49)	6.23
CFFI	1.50	0.20	0.08	0.50	1.66	(1.66)	3.65	(2.75)	8.22
FVCB	1.02	0.36	0.31	0.53	0.49	(1.29)	2.56	(1.40)	9.86
FSFG	1.19	0.16	0.05	9.70	1.29	(1.44)	2.88	(1.96)	9.58
VABK	1.62	0.09	0.03	0.27	1.55	(1.86)	3.98	(2.59)	10.22
HWBK	1.75	0.22	0.06	1.37	2.09	(1.81)	4.15	(4.01)	12.58
BPRN	1.36	0.15	0.07	0.31	1.49	(1.53)	3.27	(2.68)	9.94
PVBC	0.63	0.08	0.01	0.52	0.52	(0.75)	1.73	(1.08)	3.72

First United Corporate Management

Keith MBA	Senior Officer	Profile
Julie Peterson	Senior Officer	Profile
CPA CFP	Pres Chairman	Profile
Robert II	Senior Officer	Profile

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