Independent Bank Correlations

INDB Stock

USD 79.55 0.90 1.14%

The current 90-days correlation between Independent Bank and First Interstate BancSystem is 0.84 (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 weak diversification

The correlation between Independent Bank and DJI is 0.58 (i.e., Very weak 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

0.78	FNWB	First Northwest Bancorp	Pair Corr
0.77	FSEA	First Seacoast Bancorp	Pair Corr
0.76	NSTS	NSTS Bancorp	Pair Corr
0.69	SSBI	Summit State Bank	Pair Corr
0.74	BBAR	BBVA Banco Frances	Pair Corr
0.79	BOTJ	Bank of the Earnings Call This Week	Pair Corr
0.89	CASH	Meta Financial Group Earnings Call Tomorrow	Pair Corr
0.64	CCNE	CNB Financial	Pair Corr
0.79	CLST	Catalyst Bancorp	Pair Corr
0.83	MARUF	Marubeni Earnings Call Next Week	Pair Corr
0.77	YASKY	Yaskawa Electric Corp	Pair Corr
0.64	BKKLY	Bangkok Bank PCL	Pair Corr
0.71	CNOB	ConnectOne Bancorp Earnings Call This Week	Pair Corr
0.67	BA	Boeing	Pair Corr

Moving against Independent Stock

0.82	NIO	Nio Class A	Pair Corr
0.78	GRAB	Grab Holdings Aggressive Push	Pair Corr
0.53	NVDA	NVIDIA Aggressive Push	Pair Corr
0.52	GRLF	Green Leaf Innovations	Pair Corr
0.48	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.46	MSFT	Microsoft Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	FIBK	RNST	BBAR	ASB	WBS	FULT	CATY	UCB	EBC
FIBK		0.78	0.81	0.75	0.96	0.81	0.91	0.78	0.88	FIBK
RNST	0.78		0.39	0.95	0.84	0.94	0.88	0.89	0.74	RNST
BBAR	0.81	0.39		0.31	0.77	0.45	0.64	0.44	0.63	BBAR
ASB	0.75	0.95	0.31		0.81	0.92	0.83	0.83	0.69	ASB
WBS	0.96	0.84	0.77	0.81		0.86	0.95	0.78	0.9	WBS
FULT	0.81	0.94	0.45	0.92	0.86		0.81	0.93	0.66	FULT
CATY	0.91	0.88	0.64	0.83	0.95	0.81		0.76	0.93	CATY
UCB	0.78	0.89	0.44	0.83	0.78	0.93	0.76		0.65	UCB
EBC	0.88	0.74	0.63	0.69	0.9	0.66	0.93	0.65		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	1.32	0.15	0.11	0.17	1.42	(1.50)	2.88	(2.01)	9.45
RNST	1.04	0.05	0.03	0.11	1.24	(1.12)	2.73	(2.14)	7.57
BBAR	2.48	0.46	0.20	0.39	2.10	(3.21)	7.84	(4.44)	16.84
ASB	1.10	0.02	0.03	0.09	1.24	(1.36)	3.31	(1.59)	8.15
WBS	1.05	0.16	0.12	0.22	1.12	(1.17)	2.80	(1.77)	7.21
FULT	1.24	0.15	0.11	0.19	1.25	(1.44)	3.01	(1.95)	8.73
CATY	1.14	0.12	0.07	0.21	1.22	(1.32)	3.14	(1.80)	8.56
UCB	1.02	0.14	0.08	0.34	1.11	(1.20)	2.80	(1.36)	8.46
EBC	1.24	0.26	0.22	0.31	0.88	(1.49)	4.09	(1.75)	7.32

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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