Independent Bank Correlations

INDB Stock

USD 81.73 1.25 1.55%

The current 90-days correlation between Independent Bank and First Interstate BancSystem is 0.82 (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.

Independent Bank Correlation With Market

Very poor diversification

The correlation between Independent Bank and DJI is 0.82 (i.e., Very 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.

Build AI portfolio with Independent Stock

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 small area income & poverty estimates.

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

Moving together with Independent Stock

0.89	BNPH	BNP PARIBAS ADR	Pair Corr
0.71	AON0	AOZORA BANK LTD	Pair Corr
0.9	AX	Axos Financial	Pair Corr
0.96	BY	Byline Bancorp	Pair Corr
0.73	PB	Prosperity Bancshares	Pair Corr
0.91	RF	Regions Financial	Pair Corr
0.85	HH1	Hancock Whitney	Pair Corr
0.82	BCVN	Banque Cantonale Vaudoise	Pair Corr
0.85	LLBN	Liechtensteinische	Pair Corr
0.83	VBNK	VersaBank Earnings Call This Week	Pair Corr
0.85	SANB	SANTANDER UK 8	Pair Corr
0.62	PWT	TFS Financial	Pair Corr
0.66	BEN	Bendigo and Adelaide	Pair Corr
0.79	B4M1	SpareBank 1 SR	Pair Corr
0.93	UIO	ATLANTIC UNION BANKSDL	Pair Corr
0.7	WBCPK	Westpac Banking	Pair Corr
0.84	FRYA	Swedbank AB	Pair Corr
0.92	VNB	Valley National Bancorp	Pair Corr
0.67	BRE	Banco Bradesco SA	Pair Corr
0.93	EBMT	Eagle Bancorp Montana	Pair Corr
0.77	ECBK	ECB Bancorp Potential Growth	Pair Corr
0.88	BNP	BNP Paribas SA	Pair Corr
0.93	EFSC	Enterprise Financial	Pair Corr
0.95	EGBN	Eagle Bancorp	Pair Corr
0.88	HSBK	Halyk Bank	Pair Corr
0.83	BCGE	Banque Cantonale	Pair Corr
0.94	WABC	Westamerica Bancorporation	Pair Corr
0.61	WAFD	Washington Federal	Pair Corr
0.96	WASH	Washington Trust Bancorp	Pair Corr

Moving against Independent Stock

0.66	3YB	Postal Savings Bank	Pair Corr
0.36	ICBA	ICICI Bank Limited	Pair Corr

Related Correlations Analysis

	FIBK	RNST	BBAR	ASB	WBS	FULT	CATY	UCB	EBC
FIBK		0.8	0.57	0.83	0.83	0.91	0.87	0.91	0.8	FIBK
RNST	0.8		0.24	0.95	0.94	0.95	0.95	0.88	0.94	RNST
BBAR	0.57	0.24		0.33	0.28	0.43	0.32	0.55	0.32	BBAR
ASB	0.83	0.95	0.33		0.91	0.94	0.95	0.9	0.95	ASB
WBS	0.83	0.94	0.28	0.91		0.96	0.92	0.83	0.9	WBS
FULT	0.91	0.95	0.43	0.94	0.96		0.95	0.93	0.92	FULT
CATY	0.87	0.95	0.32	0.95	0.92	0.95		0.9	0.93	CATY
UCB	0.91	0.88	0.55	0.9	0.83	0.93	0.9		0.9	UCB
EBC	0.8	0.94	0.32	0.95	0.9	0.92	0.93	0.9		EBC
	FIBK	RNST	BBAR	ASB	WBS	FULT	CATY	UCB	EBC

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
FIBK	1.31	0.13	0.12	0.19	1.25	(1.54)	3.80	(1.87)	9.84
RNST	1.18	0.16	0.13	0.26	0.99	(1.42)	3.04	(1.72)	9.84
BBAR	2.72	(0.01)	0.02	0.09	3.28	(3.27)	6.40	(6.02)	20.42
ASB	1.23	0.04	0.06	0.12	1.30	(1.50)	3.31	(2.18)	9.19
WBS	1.10	0.34	0.29	0.48	0.67	(1.34)	3.30	(1.70)	10.08
FULT	1.31	0.19	0.14	0.24	1.19	(1.57)	3.01	(1.77)	9.73
CATY	1.22	0.11	0.09	0.20	1.11	(1.54)	3.14	(1.83)	9.74
UCB	1.11	0.11	0.08	0.22	1.14	(1.31)	2.80	(1.45)	9.04
EBC	1.29	0.15	0.14	0.22	1.03	(1.65)	3.47	(1.75)	10.28

Independent Bank Corporate Management

Lee Powlus	Chief VP	Profile
CFA CFA	MD Company	Profile
Dawn Mugford	Executive Officer	Profile
Timothy Lane	Senior Auditor	Profile
Patricia Esq	Executive Counsel	Profile
Barry Jensen	CIO of Rockland Trust	Profile

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