| GCBC Stock | | | USD 30.94 0.50 1.59% |
The current 90-days correlation between Greene County Bancorp and Fifth Third Bancorp is 0.78 (i.e., Poor diversification). The correlation of Greene County 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.
Greene County Correlation With Market
Poor diversification
The correlation between Greene County Bancorp 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 Greene County Bancorp and DJI in the same portfolio, assuming nothing else is changed.
Check out
Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Greene County Bancorp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in bureau of labor statistics.