Heritage Financial Correlations

HFWA Stock

USD 24.55 0.24 0.99%

The current 90-days correlation between Heritage Financial and Heritage Commerce Corp is -0.03 (i.e., Good diversification). The correlation of Heritage Financial 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.

Heritage Financial Correlation With Market

Average diversification

The correlation between Heritage Financial and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heritage Financial 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 Heritage Financial. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

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

Moving together with Heritage Stock

0.96	AX	Axos Financial	Pair Corr
0.97	BY	Byline Bancorp Earnings Call This Week	Pair Corr
0.94	PB	Prosperity Bancshares Earnings Call This Week	Pair Corr
0.87	RF	Regions Financial	Pair Corr
0.82	VBTX	Veritex Holdings Earnings Call This Week	Pair Corr
0.97	EFSC	Enterprise Financial Earnings Call This Week	Pair Corr
0.88	EGBN	Eagle Bancorp Earnings Call This Week	Pair Corr
0.92	WABC	Westamerica Bancorporation	Pair Corr
0.64	WASH	Washington Trust Bancorp Earnings Call This Week	Pair Corr
0.67	BANC-PF	Banc of California Earnings Call This Week	Pair Corr
0.82	EQBK	Equity Bancshares, Earnings Call This Week	Pair Corr
0.73	ESSA	ESSA Bancorp Earnings Call This Week	Pair Corr
0.88	EVBN	Evans Bancorp	Pair Corr
0.9	EWBC	East West Bancorp Earnings Call This Week	Pair Corr
0.67	WMPN	William Penn Bancorp	Pair Corr
0.65	WNEB	Western New England Earnings Call This Week	Pair Corr

Moving against Heritage Stock

0.76	FRCIL	First Republic Bank	Pair Corr
0.64	FRCCL	First Republic Bank	Pair Corr
0.64	FRCHL	First Republic Bank	Pair Corr
0.63	FRCKL	First Republic Bank	Pair Corr
0.63	FRCML	First Republic Bank	Pair Corr
0.56	FRCLL	First Republic Bank	Pair Corr
0.48	SBNYL	Signature Bank	Pair Corr
0.42	WAFDP	Washington Federal	Pair Corr

Related Correlations Analysis

	HTBK	HBNC	HTLF	INDB	GSBC
HTBK		0.9	0.68	0.86	0.72	HTBK
HBNC	0.9		0.85	0.97	0.85	HBNC
HTLF	0.68	0.85		0.92	0.91	HTLF
INDB	0.86	0.97	0.92		0.91	INDB
GSBC	0.72	0.85	0.91	0.91		GSBC
	HTBK	HBNC	HTLF	INDB	GSBC

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Risk-Adjusted Indicators

There is a big difference between Heritage Stock performing well and Heritage Financial 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 Heritage Financial'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
HTBK	1.31	(0.06)	0.00	(0.43)	0.00	0.00	2.85	(2.89)	17.80
HBNC	1.46	0.07	0.03	0.18	1.78	(1.64)	3.53	(3.15)	17.51
HTLF	1.61	0.18	0.10	0.32	1.61	(2.03)	3.53	(2.52)	19.68
INDB	1.70	0.17	0.09	0.22	1.78	(1.99)	3.68	(3.18)	20.77
GSBC	1.52	0.10	0.04	0.21	1.94	(1.59)	2.91	(2.99)	19.07

Heritage Financial Corporate Management

Bryan McDonald	Chief Lending Officer and Executive VP	Profile
Anthony Chalfant	Executive Officer	Profile
Kaylene Lahn	Senior Secretary	Profile
Cindy Hirman	Executive Bank	Profile

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