Independent Bank Correlations

IBCP Stock

USD 38.50 0.78 2.07%

The current 90-days correlation between Independent Bank and Community West Bancshares is 0.83 (i.e., Very poor diversification). The correlation of Independent Bank 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Independent Bank Correlation With Market

Poor diversification

The correlation between Independent Bank and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Independent Bank 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 Independent Bank. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

To learn how to invest in Independent Stock, please use our How to Invest in Independent Bank guide.

Moving together with Independent Stock

0.97	AX	Axos Financial	Pair Corr
0.97	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.96	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.89	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.63	VABK	Virginia National	Pair Corr
0.77	VBNK	VersaBank Fiscal Year End 11th of December 2024	Pair Corr
0.82	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.61	TECTP	Tectonic Financial	Pair Corr
0.9	EBTC	Enterprise Bancorp	Pair Corr
0.96	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.78	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.95	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.77	WAFD	Washington Federal Normal Trading	Pair Corr
0.86	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.69	BANC-PF	Banc of California	Pair Corr
0.9	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.7	ESSA	ESSA Bancorp	Pair Corr
0.73	EVBN	Evans Bancorp	Pair Corr
0.77	EWBC	East West Bancorp Fiscal Year End 28th of January 2025	Pair Corr
0.68	WMPN	William Penn Bancorp	Pair Corr

Moving against Independent Stock

0.46	CFG-PE	Citizens Financial	Pair Corr
0.41	TFC-PR	Truist Financial	Pair Corr
0.4	TFC-PO	Truist Financial	Pair Corr
0.34	WF	Woori Financial Group	Pair Corr
0.35	WAFDP	Washington Federal	Pair Corr

Related Correlations Analysis

	HMNF	FNWB	CWBC	FFNW	GSBC	HBCP	HFWA	HTBI	LSBK
HMNF		0.12	0.23	-0.03	0.35	0.47	0.53	0.36	0.31	HMNF
FNWB	0.12		0.53	0.29	0.1	-0.16	0.02	0.4	-0.32	FNWB
CWBC	0.23	0.53		-0.18	0.67	0.36	0.6	0.89	-0.17	CWBC
FFNW	-0.03	0.29	-0.18		-0.18	-0.19	-0.29	-0.16	-0.26	FFNW
GSBC	0.35	0.1	0.67	-0.18		0.84	0.94	0.87	0.34	GSBC
HBCP	0.47	-0.16	0.36	-0.19	0.84		0.89	0.58	0.56	HBCP
HFWA	0.53	0.02	0.6	-0.29	0.94	0.89		0.79	0.44	HFWA
HTBI	0.36	0.4	0.89	-0.16	0.87	0.58	0.79		0.02	HTBI
LSBK	0.31	-0.32	-0.17	-0.26	0.34	0.56	0.44	0.02		LSBK
	HMNF	FNWB	CWBC	FFNW	GSBC	HBCP	HFWA	HTBI	LSBK

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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

HFWA	+ 0.94	GSBC
HTBI	+ 0.89	CWBC
HFWA	+ 0.89	HBCP
HTBI	+ 0.87	GSBC
HBCP	+ 0.84	GSBC
HTBI	+ 0.79	HFWA

High negative correlations

LSBK	- 0.32	FNWB
HFWA	- 0.29	FFNW
LSBK	- 0.26	FFNW
HBCP	- 0.19	FFNW
GSBC	- 0.18	FFNW
FFNW	- 0.18	CWBC

Risk-Adjusted Indicators

There is a big difference between Independent Stock performing well and Independent Bank 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 Independent Bank'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	0.12	(1.02)	1.85	(2.37)	4.29	(3.19)	13.15
FNWB	1.60	0.07	0.02	0.23	1.70	(1.81)	4.11	(2.82)	14.21
CWBC	1.07	0.04	0.06	0.15	1.07	(1.19)	2.64	(2.16)	9.14
FFNW	0.63	(0.01)	(0.12)	0.08	0.76	(0.68)	1.65	(1.13)	4.32
GSBC	1.62	(0.07)	0.05	0.09	1.72	(1.78)	3.56	(3.32)	19.09
HBCP	1.69	0.09	0.10	0.17	1.75	(2.01)	3.76	(3.12)	12.98
HFWA	1.64	0.05	0.10	0.14	1.59	(1.74)	3.50	(2.26)	19.67
HTBI	1.48	(0.07)	0.04	0.09	1.64	(1.62)	3.05	(3.47)	18.54
LSBK	1.17	0.12	0.02	0.42	1.25	(1.59)	3.69	(2.95)	8.55

Independent Bank Corporate Management

Stefanie Kimball	Chief Risk Officer and Executive VP	Profile
CPA CPA	CEO Pres	Profile
Mark Olsen	VP Mang	Profile
Keith Lightbody	Officer Bank	Profile

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