Horizon Bancorp Correlations

HBNC Stock

USD 18.28 0.21 1.16%

The current 90-days correlation between Horizon Bancorp and Community West Bancshares is 0.81 (i.e., Very poor diversification). The correlation of Horizon Bancorp 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.

Horizon Bancorp Correlation With Market

Poor diversification

The correlation between Horizon Bancorp and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon 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 Horizon 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 board of governors.

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

Moving together with Horizon Stock

0.96	AX	Axos Financial	Pair Corr
0.97	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.97	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.9	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.62	VABK	Virginia National	Pair Corr
0.8	VBNK	VersaBank Normal Trading	Pair Corr
0.84	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.69	TECTP	Tectonic Financial	Pair Corr
0.89	EBTC	Enterprise Bancorp	Pair Corr
0.97	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.87	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.97	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.62	WAFD	Washington Federal	Pair Corr
0.92	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.71	BANC-PF	Banc of California	Pair Corr
0.91	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.68	ESSA	ESSA Bancorp	Pair Corr
0.73	EVBN	Evans Bancorp	Pair Corr
0.85	EWBC	East West Bancorp Fiscal Year End 28th of January 2025	Pair Corr
0.74	WMPN	William Penn Bancorp	Pair Corr

Moving against Horizon Stock

0.51	WF	Woori Financial Group	Pair Corr
0.47	CFG-PE	Citizens Financial	Pair Corr
0.44	TFC-PO	Truist Financial	Pair Corr
0.44	TFC-PR	Truist Financial	Pair Corr
0.33	WAFDP	Washington Federal	Pair Corr

Related Correlations Analysis

	CWBC	HFWA	HMNF	FFNW	BSRR	GABC	GSBC	NBHC	FBNC
CWBC		0.56	0.17	-0.21	0.73	0.54	0.64	0.42	0.52	CWBC
HFWA	0.56		0.53	-0.32	0.88	0.98	0.94	0.96	0.89	HFWA
HMNF	0.17	0.53		-0.05	0.32	0.57	0.35	0.5	0.51	HMNF
FFNW	-0.21	-0.32	-0.05		-0.2	-0.29	-0.2	-0.21	-0.09	FFNW
BSRR	0.73	0.88	0.32	-0.2		0.85	0.94	0.81	0.85	BSRR
GABC	0.54	0.98	0.57	-0.29	0.85		0.93	0.95	0.93	GABC
GSBC	0.64	0.94	0.35	-0.2	0.94	0.93		0.91	0.9	GSBC
NBHC	0.42	0.96	0.5	-0.21	0.81	0.95	0.91		0.84	NBHC
FBNC	0.52	0.89	0.51	-0.09	0.85	0.93	0.9	0.84		FBNC
	CWBC	HFWA	HMNF	FFNW	BSRR	GABC	GSBC	NBHC	FBNC

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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

GABC	+ 0.98	HFWA
NBHC	+ 0.96	HFWA
NBHC	+ 0.95	GABC
GSBC	+ 0.94	HFWA
GSBC	+ 0.94	BSRR
GSBC	+ 0.93	GABC

High negative correlations

FFNW	- 0.32	HFWA
GABC	- 0.29	FFNW
NBHC	- 0.21	FFNW
FFNW	- 0.21	CWBC
GSBC	- 0.2	FFNW
BSRR	- 0.2	FFNW

Risk-Adjusted Indicators

There is a big difference between Horizon Stock performing well and Horizon Bancorp 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 Horizon Bancorp'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
CWBC	1.03	0.03	0.04	0.12	1.08	(1.11)	2.53	(2.16)	9.14
HFWA	1.59	0.06	0.09	0.13	1.61	(1.67)	3.50	(2.26)	19.67
HMNF	1.88	0.38	0.13	2.31	1.85	(2.37)	4.29	(3.19)	13.15
FFNW	0.61	(0.02)	(0.11)	0.02	0.76	(0.67)	1.65	(1.13)	4.32
BSRR	1.97	(0.04)	0.06	0.09	2.13	(2.21)	4.11	(3.15)	26.66
GABC	1.32	0.05	0.11	0.13	1.13	(1.66)	2.89	(2.21)	16.97
GSBC	1.58	(0.05)	0.04	0.08	1.71	(1.71)	3.56	(3.32)	19.09
NBHC	1.61	0.04	0.08	0.12	1.63	(1.89)	3.29	(2.64)	17.64
FBNC	1.53	0.00	0.07	0.10	1.54	(1.80)	3.82	(2.51)	16.50

Horizon Bancorp Corporate Management

Mark CPA	Chief VP	Profile
Todd Etzler	Chief VP	Profile
Lynn Kerber	Executive Officer	Profile
Daniel Buresh	Asst Treasurer	Profile
Amy Phares	Public Manager	Profile

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