Magyar Bancorp Correlations

MGYR Stock

USD 13.25 0.01 0.08%

The current 90-days correlation between Magyar Bancorp and HV Bancorp is 0.27 (i.e., Modest 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

Average diversification

The correlation between Magyar Bancorp and DJI is 0.16 (i.e., Average 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

0.71	AX	Axos Financial	Pair Corr
0.72	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.78	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.77	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.7	VBNK	VersaBank Normal Trading	Pair Corr
0.66	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.65	TECTP	Tectonic Financial	Pair Corr
0.71	EBTC	Enterprise Bancorp	Pair Corr
0.72	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.64	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.66	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.61	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.72	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.63	EWBC	East West Bancorp Fiscal Year End 28th of January 2025	Pair Corr
0.64	WMPN	William Penn Bancorp	Pair Corr

Moving against Magyar Stock

0.43	TFC-PO	Truist Financial	Pair Corr
0.38	TFC-PR	Truist Financial	Pair Corr
0.38	CFG-PE	Citizens Financial	Pair Corr

Related Correlations Analysis

	HVBC	HMNF	OFED	CULL	HFBL	CWBC	FFNW	FNWB	FCAP
HVBC		0.4	-0.25	-0.54	0.03	0.25	-0.46	-0.21	0.27	HVBC
HMNF	0.4		-0.34	-0.5	-0.1	0.17	-0.05	0.05	0.16	HMNF
OFED	-0.25	-0.34		0.36	-0.15	0.35	0.05	0.49	-0.63	OFED
CULL	-0.54	-0.5	0.36		0.11	-0.17	0.09	-0.06	-0.17	CULL
HFBL	0.03	-0.1	-0.15	0.11		-0.04	-0.06	0.02	0.06	HFBL
CWBC	0.25	0.17	0.35	-0.17	-0.04		-0.21	0.5	-0.61	CWBC
FFNW	-0.46	-0.05	0.05	0.09	-0.06	-0.21		0.28	0.0	FFNW
FNWB	-0.21	0.05	0.49	-0.06	0.02	0.5	0.28		-0.53	FNWB
FCAP	0.27	0.16	-0.63	-0.17	0.06	-0.61	0.0	-0.53		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

FNWB	+ 0.5	CWBC
FNWB	+ 0.49	OFED
HMNF	+ 0.4	HVBC
CULL	+ 0.36	OFED
CWBC	+ 0.35	OFED
FNWB	+ 0.28	FFNW

High negative correlations

FCAP	- 0.63	OFED
FCAP	- 0.61	CWBC
CULL	- 0.54	HVBC
FCAP	- 0.53	FNWB
CULL	- 0.5	HMNF
FFNW	- 0.46	HVBC

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	0.31	0.08	1.20	2.03	(1.59)	2.68	(4.11)	18.63
HMNF	1.88	0.38	0.13	2.31	1.85	(2.37)	4.29	(3.19)	13.15
OFED	2.13	(0.22)	0.00	1.09	0.00	0.00	3.48	(5.28)	12.66
CULL	0.51	(0.12)	0.00	(5.70)	0.00	0.00	1.18	(1.64)	4.73
HFBL	1.75	0.01	(0.01)	0.11	2.40	(3.13)	3.82	(4.31)	21.70
CWBC	1.03	0.03	0.04	0.12	1.08	(1.11)	2.53	(2.16)	9.14
FFNW	0.61	(0.02)	(0.11)	0.02	0.76	(0.67)	1.65	(1.13)	4.32
FNWB	1.55	0.05	0.00	0.17	1.69	(1.77)	4.11	(2.82)	14.21
FCAP	1.72	0.11	0.01	1.00	1.81	(2.40)	6.22	(3.53)	14.42

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