Heritage Commerce Correlations

HTBK Stock

USD 9.62 0.01 0.10%

The current 90-days correlation between Heritage Commerce Corp and Community West Bancshares is 0.87 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Heritage Commerce moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Heritage Commerce Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Heritage Commerce Correlation With Market

Significant diversification

The correlation between Heritage Commerce Corp and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heritage Commerce Corp 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 Commerce Corp. 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.

Moving together with Heritage Stock

0.86	AX	Axos Financial	Pair Corr
0.84	BY	Byline Bancorp	Pair Corr
0.72	PB	Prosperity Bancshares	Pair Corr
0.81	RF	Regions Financial	Pair Corr
0.63	WF	Woori Financial Group Earnings Call This Week	Pair Corr
0.89	VABK	Virginia National	Pair Corr
0.84	VBNK	VersaBank	Pair Corr
0.95	VBTX	Veritex Holdings	Pair Corr
0.72	TFC-PI	Truist Financial	Pair Corr
0.89	EBMT	Eagle Bancorp Montana	Pair Corr
0.63	EFSC	Enterprise Financial Normal Trading	Pair Corr
0.93	EGBN	Eagle Bancorp	Pair Corr
0.68	KEY-PJ	KeyCorp	Pair Corr
0.76	KEY-PK	KeyCorp	Pair Corr
0.9	WABC	Westamerica Bancorporation	Pair Corr
0.86	WAFD	Washington Federal	Pair Corr
0.82	WASH	Washington Trust Bancorp	Pair Corr
0.91	EQBK	Equity Bancshares,	Pair Corr
0.71	EWBC	East West Bancorp	Pair Corr
0.93	WMPN	William Penn Bancorp	Pair Corr

Moving against Heritage Stock

0.45	DB	Deutsche Bank AG	Pair Corr
0.36	TECTP	Tectonic Financial	Pair Corr

Related Correlations Analysis

	HMNF	HFBL	FFNW	FNWB	FCAP	CWBC	HVBC	OFED	CULL
HMNF		0.37	-0.62	-0.1	-0.28	-0.19	0.4	-0.34	-0.5	HMNF
HFBL	0.37		-0.64	-0.14	-0.2	-0.48	0.12	-0.59	-0.19	HFBL
FFNW	-0.62	-0.64		0.23	0.37	0.51	-0.08	0.75	0.31	FFNW
FNWB	-0.1	-0.14	0.23		-0.43	0.68	0.61	-0.04	-0.17	FNWB
FCAP	-0.28	-0.2	0.37	-0.43		-0.45	-0.34	0.64	0.22	FCAP
CWBC	-0.19	-0.48	0.51	0.68	-0.45		0.33	0.14	-0.06	CWBC
HVBC	0.4	0.12	-0.08	0.61	-0.34	0.33		-0.25	-0.54	HVBC
OFED	-0.34	-0.59	0.75	-0.04	0.64	0.14	-0.25		0.36	OFED
CULL	-0.5	-0.19	0.31	-0.17	0.22	-0.06	-0.54	0.36		CULL
	HMNF	HFBL	FFNW	FNWB	FCAP	CWBC	HVBC	OFED	CULL

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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

OFED	+ 0.75	FFNW
CWBC	+ 0.68	FNWB
OFED	+ 0.64	FCAP
HVBC	+ 0.61	FNWB
CWBC	+ 0.51	FFNW
HVBC	+ 0.4	HMNF

High negative correlations

FFNW	- 0.64	HFBL
FFNW	- 0.62	HMNF
OFED	- 0.59	HFBL
CULL	- 0.54	HVBC
CULL	- 0.5	HMNF
CWBC	- 0.48	HFBL

Risk-Adjusted Indicators

There is a big difference between Heritage Stock performing well and Heritage Commerce 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 Commerce'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
HMNF	1.88	0.44	0.13	(0.82)	1.85	(2.37)	4.29	(3.19)	13.15
HFBL	1.48	0.08	(0.01)	(0.16)	2.08	(2.18)	5.67	(4.53)	13.83
FFNW	0.80	(0.12)	0.00	(0.35)	0.00	0.00	1.58	(1.74)	4.32
FNWB	1.26	(0.02)	(0.04)	0.06	1.53	(1.38)	2.98	(2.74)	8.98
FCAP	1.57	(0.06)	0.00	0.54	0.00	0.00	4.54	(3.38)	11.75
CWBC	1.08	0.05	(0.02)	0.51	1.27	(1.16)	2.53	(1.95)	11.26
HVBC	1.51	0.34	0.09	43.04	2.03	(1.59)	2.68	(4.11)	18.63
OFED	2.13	(0.27)	0.00	(0.85)	0.00	0.00	3.48	(5.28)	12.66
CULL	0.51	(0.10)	0.00	0.50	0.00	0.00	1.18	(1.64)	4.73

Heritage Commerce Corporate Management

Diana Olveira	VP Director	Profile
Sachin Vaidya	Executive Officer	Profile
Glen Shu	Executive Group	Profile
Deborah Reuter	Chief VP	Profile
Jeffrey Javits	EVP Officer	Profile

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