Independent Bank Correlations

IBCP Stock

USD 34.42 0.45 1.29%

The current 90-days correlation between Independent Bank and Community West Bancshares is 0.86 (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

Average diversification

The correlation between Independent Bank and DJI is 0.17 (i.e., Average 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

0.98	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
0.9	RF	Regions Financial	Pair Corr
0.65	VABK	Virginia National Earnings Call This Week	Pair Corr
0.68	VBNK	VersaBank	Pair Corr
0.91	VBTX	Veritex Holdings Earnings Call This Week	Pair Corr
0.61	EBMT	Eagle Bancorp Montana Earnings Call This Week	Pair Corr
0.94	EFSC	Enterprise Financial Earnings Call Tomorrow	Pair Corr
0.89	EGBN	Eagle Bancorp Earnings Call This Week	Pair Corr
0.96	WABC	Westamerica Bancorporation	Pair Corr
0.7	WAFD	Washington Federal	Pair Corr
0.71	WASH	Washington Trust Bancorp Earnings Call This Week	Pair Corr
0.92	EQBK	Equity Bancshares, Earnings Call This Week	Pair Corr
0.81	ESSA	ESSA Bancorp Earnings Call This Week	Pair Corr
0.86	EVBN	Evans Bancorp	Pair Corr
0.85	EWBC	East West Bancorp Earnings Call This Week	Pair Corr
0.77	WMPN	William Penn Bancorp	Pair Corr
0.67	WNEB	Western New England Earnings Call This Week	Pair Corr

Moving against Independent Stock

0.57	FRCIL	First Republic Bank	Pair Corr
0.42	FRCHL	First Republic Bank	Pair Corr
0.41	FRCCL	First Republic Bank	Pair Corr
0.4	FRCKL	First Republic Bank	Pair Corr
0.4	FRCML	First Republic Bank	Pair Corr
0.37	SBNYL	Signature Bank	Pair Corr
0.34	FRCLL	First Republic Bank	Pair Corr

Related Correlations Analysis

	HMNF	FNWB	CWBC	FFNW	GSBC	HBCP	HFWA	HTBI	LSBK
HMNF		-0.19	-0.17	-0.55	-0.14	-0.2	-0.06	-0.41	-0.03	HMNF
FNWB	-0.19		0.61	0.4	0.38	0.37	0.34	0.59	0.17	FNWB
CWBC	-0.17	0.61		0.33	0.86	0.85	0.83	0.9	0.33	CWBC
FFNW	-0.55	0.4	0.33		0.11	0.44	0.01	0.43	-0.15	FFNW
GSBC	-0.14	0.38	0.86	0.11		0.8	0.93	0.87	0.31	GSBC
HBCP	-0.2	0.37	0.85	0.44	0.8		0.82	0.87	0.15	HBCP
HFWA	-0.06	0.34	0.83	0.01	0.93	0.82		0.86	0.38	HFWA
HTBI	-0.41	0.59	0.9	0.43	0.87	0.87	0.86		0.3	HTBI
LSBK	-0.03	0.17	0.33	-0.15	0.31	0.15	0.38	0.3		LSBK
	HMNF	FNWB	CWBC	FFNW	GSBC	HBCP	HFWA	HTBI	LSBK

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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	+ 0.93	GSBC
HTBI	+ 0.9	CWBC
HTBI	+ 0.87	GSBC
HTBI	+ 0.87	HBCP
GSBC	+ 0.86	CWBC
HTBI	+ 0.86	HFWA

High negative correlations

FFNW	- 0.55	HMNF
HTBI	- 0.41	HMNF
HBCP	- 0.2	HMNF
FNWB	- 0.19	HMNF
CWBC	- 0.17	HMNF
LSBK	- 0.15	FFNW

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	0.39	0.16	1.45	1.85	(2.37)	4.29	(3.19)	13.15
FNWB	1.50	0.09	0.05	0.15	1.58	(1.76)	3.17	(2.80)	14.21
CWBC	1.10	0.03	0.02	0.08	1.33	(1.19)	2.53	(2.11)	11.26
FFNW	0.75	(0.13)	0.00	(0.49)	0.00	0.00	1.36	(1.69)	4.32
GSBC	1.52	0.10	0.04	0.21	1.94	(1.59)	2.91	(2.99)	19.07
HBCP	1.54	0.10	0.05	0.25	1.81	(1.81)	3.32	(3.07)	14.40
HFWA	1.51	0.20	0.09	0.36	1.81	(1.53)	2.80	(3.06)	21.63
HTBI	1.42	0.01	0.00	0.05	1.83	(1.59)	2.47	(3.28)	18.89
LSBK	1.16	0.03	0.00	(0.12)	1.73	(1.63)	2.98	(3.49)	10.32

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

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC