First Internet Correlations

INBKZ Stock

USD 25.24 0.06 0.24%

The current 90-days correlation between First Internet Bancorp and Great Elm Capital is -0.02 (i.e., Good diversification). The correlation of First Internet 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.

First Internet Correlation With Market

Modest diversification

The correlation between First Internet Bancorp and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Internet 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 First Internet 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 industry.

Moving together with First Stock

0.67	RCC	Small Cap Premium	Pair Corr
0.76	OXSQZ	Oxford Square Capital	Pair Corr
0.68	RILYM	B Riley Financial,	Pair Corr
0.72	SACC	Sachem Capital Corp	Pair Corr
0.75	AE	Adams Resources Energy	Pair Corr
0.62	AM	Antero Midstream Partners	Pair Corr
0.65	AR	Antero Resources Corp	Pair Corr
0.79	EE	Excelerate Energy	Pair Corr
0.74	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.74	TS	Tenaris SA ADR Sell-off Trend	Pair Corr
0.71	DLNG	Dynagas LNG Partners Earnings Call This Week	Pair Corr
0.7	DMLP	Dorchester Minerals	Pair Corr
0.61	VNOM	Viper Energy Ut	Pair Corr

Moving against First Stock

0.67	BP	BP PLC ADR	Pair Corr
0.66	EC	Ecopetrol SA ADR	Pair Corr
0.65	E	Eni SpA ADR	Pair Corr
0.53	DINO	HF Sinclair Corp	Pair Corr
0.52	SFB	Stifel Financial	Pair Corr
0.37	DK	Delek Energy	Pair Corr
0.63	EONR	EON Resources Symbol Change	Pair Corr
0.59	WFRD	Weatherford International	Pair Corr
0.52	SD	SandRidge Energy	Pair Corr
0.47	VIVK	Vivakor	Pair Corr
0.45	EQNR	Equinor ASA ADR	Pair Corr
0.41	BROGW	Brooge Energy Limited	Pair Corr
0.41	ENSV	Enservco	Pair Corr
0.36	NE	Noble plc	Pair Corr

Related Correlations Analysis

	GECCN	NEWTL	OXSQZ	RILYO	GECCM
GECCN		0.86	0.76	0.61	0.67	GECCN
NEWTL	0.86		0.92	0.65	0.79	NEWTL
OXSQZ	0.76	0.92		0.53	0.75	OXSQZ
RILYO	0.61	0.65	0.53		0.46	RILYO
GECCM	0.67	0.79	0.75	0.46		GECCM
	GECCN	NEWTL	OXSQZ	RILYO	GECCM

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Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Internet 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 First Internet'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
GECCN	0.41	0.03	(0.16)	(1.67)	0.42	(0.53)	0.95	(0.92)	2.73
NEWTL	0.05	0.00	(1.00)	0.00	0.00	(0.07)	0.16	(0.04)	0.45
OXSQZ	0.22	0.04	(0.25)	(0.64)	0.10	(0.34)	0.54	(0.57)	1.29
RILYO	0.41	0.01	(0.18)	0.25	0.42	(0.53)	1.20	(0.86)	2.95
GECCM	0.28	0.02	(0.18)	(0.21)	0.42	(0.39)	0.60	(0.53)	3.56

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