First United Correlations

FUNC Stock

USD 35.82 0.35 0.99%

The current 90-days correlation between First United and BlackRock Credit Allocation is 0.24 (i.e., Modest 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

Good diversification

The correlation between First United and DJI is -0.18 (i.e., Good 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 inflation.

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

Moving together with First Stock

0.71

VABK

Virginia National

Pair Corr

Moving against First Stock

0.54	BCVN	Banque Cantonale Vaudoise	Pair Corr
0.53	TFBF	Kasikornbank Public	Pair Corr
0.51	B4M1	SpareBank 1 SR	Pair Corr
0.51	CBAPM	Commonwealth Bank	Pair Corr
0.48	AON0	AOZORA BANK LTD	Pair Corr
0.38	BRE	Banco Bradesco SA	Pair Corr
0.37	BNP	BNP Paribas SA	Pair Corr
0.36	SANB	SANTANDER UK 8	Pair Corr
0.36	BEN	Bendigo and Adelaide	Pair Corr
0.35	BNPH	BNP PARIBAS ADR	Pair Corr
0.32	FRYA	Swedbank AB	Pair Corr
0.49	BCGE	Banque Cantonale	Pair Corr
0.39	MM0	MONETA MONEY BANK	Pair Corr
0.36	BSA	Banco Santander Chile	Pair Corr
0.34	OTP	OTP Bank Nyrt Earnings Call This Week	Pair Corr
0.33	BRU	mBank SA	Pair Corr

Related Correlations Analysis

	BTZ	TQSMX	APHQX	RGHYX	RNP	FHYTX	HRTVX	DHMIX	WASH	FFC
BTZ		0.12	-0.34	0.11	0.51	0.04	0.17	0.0	0.34	0.33	BTZ
TQSMX	0.12		0.63	0.94	0.73	0.88	0.99	0.96	0.84	0.85	TQSMX
APHQX	-0.34	0.63		0.56	0.02	0.72	0.57	0.75	0.36	0.31	APHQX
RGHYX	0.11	0.94	0.56		0.73	0.91	0.93	0.89	0.79	0.85	RGHYX
RNP	0.51	0.73	0.02	0.73		0.56	0.77	0.62	0.75	0.8	RNP
FHYTX	0.04	0.88	0.72	0.91	0.56		0.85	0.91	0.68	0.73	FHYTX
HRTVX	0.17	0.99	0.57	0.93	0.77	0.85		0.93	0.89	0.89	HRTVX
DHMIX	0.0	0.96	0.75	0.89	0.62	0.91	0.93		0.75	0.75	DHMIX
WASH	0.34	0.84	0.36	0.79	0.75	0.68	0.89	0.75		0.92	WASH
FFC	0.33	0.85	0.31	0.85	0.8	0.73	0.89	0.75	0.92		FFC
	BTZ	TQSMX	APHQX	RGHYX	RNP	FHYTX	HRTVX	DHMIX	WASH	FFC

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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

HRTVX	+ 0.99	TQSMX
DHMIX	+ 0.96	TQSMX
RGHYX	+ 0.94	TQSMX
HRTVX	+ 0.93	RGHYX
DHMIX	+ 0.93	HRTVX
FFC	+ 0.92	WASH

High negative correlations

APHQX	- 0.34	BTZ
DHMIX	- 0.0	BTZ

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
BTZ	0.28	(0.02)	0.00	(0.10)	0.00	0.00	0.57	(0.56)	1.68
TQSMX	0.68	0.10	0.13	0.18	0.55	(0.80)	1.60	(1.19)	5.11
APHQX	0.82	0.05	0.07	0.12	0.80	(0.99)	1.79	(1.76)	9.41
RGHYX	0.10	0.02	(0.21)	(1.66)	0.00	(0.15)	0.20	(0.20)	1.11
RNP	0.61	0.12	0.09	0.52	0.52	(0.67)	1.38	(1.02)	3.20
FHYTX	0.14	0.00	(0.25)	0.10	0.00	(0.22)	0.31	(0.31)	1.09
HRTVX	0.73	0.21	0.27	0.28	0.36	(0.88)	2.26	(0.98)	4.59
DHMIX	0.70	0.06	0.07	0.13	0.68	(0.84)	2.00	(1.47)	4.49
WASH	1.48	0.29	0.19	0.32	1.28	(1.82)	3.61	(2.38)	17.33
FFC	0.31	0.03	(0.08)	0.67	0.31	(0.36)	0.67	(0.66)	2.02

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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