Magyar Bancorp Correlations

MGYR Stock

USD 14.56 0.04 0.27%

The current 90-days correlation between Magyar Bancorp and HV Bancorp is -0.08 (i.e., Good diversification). The correlation of Magyar Bancorp 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.

Magyar Bancorp Correlation With Market

Good diversification

The correlation between Magyar Bancorp and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Magyar Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Magyar 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 manufacturing.

To learn how to invest in Magyar Stock, please use our How to Invest in Magyar Bancorp guide.

Moving together with Magyar Stock

0.8	EBTC	Enterprise Bancorp	Pair Corr
0.81	BANC-PF	Banc of California	Pair Corr
0.75	WSBCP	WesBanco	Pair Corr

Moving against Magyar Stock

0.9	NU	Nu Holdings Buyout Trend	Pair Corr
0.75	TFC-PO	Truist Financial	Pair Corr
0.73	CFG-PE	Citizens Financial	Pair Corr
0.72	KB	KB Financial Group Earnings Call This Week	Pair Corr
0.68	TFC-PR	Truist Financial	Pair Corr
0.66	WF	Woori Financial Group Earnings Call This Week	Pair Corr
0.49	VABK	Virginia National	Pair Corr
0.43	VBNK	VersaBank	Pair Corr
0.43	EBMT	Eagle Bancorp Montana	Pair Corr
0.4	CFG-PH	Citizens Financial Group,	Pair Corr
0.33	ECBK	ECB Bancorp	Pair Corr
0.67	FRCHL	First Republic Bank	Pair Corr
0.66	KEY-PJ	KeyCorp	Pair Corr
0.66	FRCCL	First Republic Bank	Pair Corr
0.65	KEY-PK	KeyCorp	Pair Corr
0.65	WAFDP	Washington Federal	Pair Corr
0.59	WASH	Washington Trust Bancorp	Pair Corr
0.5	WAFD	Washington Federal	Pair Corr
0.38	WMPN	William Penn Bancorp	Pair Corr

Related Correlations Analysis

	HVBC	HMNF	OFED	CULL	HFBL	CWBC	FFNW	FNWB	FCAP
HVBC		0.4	-0.25	-0.54	0.12	0.33	-0.08	0.61	-0.34	HVBC
HMNF	0.4		-0.34	-0.5	0.37	-0.19	-0.62	-0.1	-0.28	HMNF
OFED	-0.25	-0.34		0.36	-0.59	0.14	0.75	-0.04	0.64	OFED
CULL	-0.54	-0.5	0.36		-0.19	-0.06	0.31	-0.17	0.22	CULL
HFBL	0.12	0.37	-0.59	-0.19		-0.48	-0.64	-0.14	-0.2	HFBL
CWBC	0.33	-0.19	0.14	-0.06	-0.48		0.51	0.68	-0.45	CWBC
FFNW	-0.08	-0.62	0.75	0.31	-0.64	0.51		0.23	0.37	FFNW
FNWB	0.61	-0.1	-0.04	-0.17	-0.14	0.68	0.23		-0.43	FNWB
FCAP	-0.34	-0.28	0.64	0.22	-0.2	-0.45	0.37	-0.43		FCAP
	HVBC	HMNF	OFED	CULL	HFBL	CWBC	FFNW	FNWB	FCAP

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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

FFNW	+ 0.75	OFED
FNWB	+ 0.68	CWBC
FCAP	+ 0.64	OFED
FNWB	+ 0.61	HVBC
FFNW	+ 0.51	CWBC
HMNF	+ 0.4	HVBC

High negative correlations

FFNW	- 0.64	HFBL
FFNW	- 0.62	HMNF
HFBL	- 0.59	OFED
CULL	- 0.54	HVBC
CULL	- 0.5	HMNF
CWBC	- 0.48	HFBL

Risk-Adjusted Indicators

There is a big difference between Magyar Stock performing well and Magyar Bancorp 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 Magyar Bancorp'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
HVBC	1.51	0.34	0.09	43.04	2.03	(1.59)	2.68	(4.11)	18.63
HMNF	1.88	0.44	0.13	(0.82)	1.85	(2.37)	4.29	(3.19)	13.15
OFED	2.13	(0.27)	0.00	(0.85)	0.00	0.00	3.48	(5.28)	12.66
CULL	0.51	(0.10)	0.00	0.50	0.00	0.00	1.18	(1.64)	4.73
HFBL	1.48	0.08	(0.01)	(0.16)	2.08	(2.18)	5.67	(4.53)	13.83
CWBC	1.08	0.05	(0.02)	0.51	1.27	(1.16)	2.53	(1.95)	11.26
FFNW	0.80	(0.12)	0.00	(0.35)	0.00	0.00	1.58	(1.74)	4.32
FNWB	1.26	(0.02)	(0.04)	0.06	1.53	(1.38)	2.98	(2.74)	8.98
FCAP	1.57	(0.06)	0.00	0.54	0.00	0.00	4.54	(3.38)	11.75

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