Mid Penn Correlations

MPB Stock

USD 29.58 0.10 0.34%

The correlation of Mid Penn 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.

Mid Penn Correlation With Market

Weak diversification

The correlation between Mid Penn Bancorp and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Penn 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 Mid Penn 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 american community survey.

Moving together with Mid Stock

0.92	AX	Axos Financial	Pair Corr
0.95	BY	Byline Bancorp	Pair Corr
0.71	KB	KB Financial Group	Pair Corr
0.68	NU	Nu Holdings	Pair Corr
0.9	PB	Prosperity Bancshares	Pair Corr
0.91	RF	Regions Financial Earnings Call This Week	Pair Corr
0.77	WF	Woori Financial Group	Pair Corr
0.86	VABK	Virginia National	Pair Corr
0.82	VBNK	VersaBank	Pair Corr
0.91	VBTX	Veritex Holdings	Pair Corr
0.8	TFC-PI	Truist Financial	Pair Corr
0.73	TFC-PO	Truist Financial	Pair Corr
0.61	TFC-PR	Truist Financial	Pair Corr
0.86	EBMT	Eagle Bancorp Montana Normal Trading	Pair Corr
0.76	CFG-PE	Citizens Financial	Pair Corr
0.66	EFSC	Enterprise Financial	Pair Corr
0.91	EGBN	Eagle Bancorp	Pair Corr
0.87	KEY-PJ	KeyCorp	Pair Corr
0.91	KEY-PK	KeyCorp	Pair Corr
0.89	WABC	Westamerica Bancorporation	Pair Corr
0.76	WAFD	Washington Federal	Pair Corr
0.94	WASH	Washington Trust Bancorp	Pair Corr
0.96	EQBK	Equity Bancshares,	Pair Corr
0.61	EVBN	Evans Bancorp	Pair Corr
0.98	WMPN	William Penn Bancorp	Pair Corr

Moving against Mid Stock

0.8	VBFC	Village Bank	Pair Corr
0.42	TECTP	Tectonic Financial	Pair Corr
0.31	DB	Deutsche Bank AG Normal Trading	Pair Corr
0.31	EBTC	Enterprise Bancorp	Pair Corr
0.36	WSBCP	WesBanco	Pair Corr

Related Correlations Analysis

	AFBI	OFED	HMNF	HFBL	HVBC	FRAF	CVLY	ACNB	LNKB	CWBC
AFBI		0.0	0.0	-0.59	0.0	0.03	0.0	0.78	0.55	0.78	AFBI
OFED	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	OFED
HMNF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	HMNF
HFBL	-0.59	0.0	0.0		0.0	0.26	0.0	-0.58	-0.21	-0.58	HFBL
HVBC	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	HVBC
FRAF	0.03	0.0	0.0	0.26	0.0		0.0	0.3	0.03	0.27	FRAF
CVLY	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CVLY
ACNB	0.78	0.0	0.0	-0.58	0.0	0.3	0.0		0.35	0.89	ACNB
LNKB	0.55	0.0	0.0	-0.21	0.0	0.03	0.0	0.35		0.53	LNKB
CWBC	0.78	0.0	0.0	-0.58	0.0	0.27	0.0	0.89	0.53		CWBC
	AFBI	OFED	HMNF	HFBL	HVBC	FRAF	CVLY	ACNB	LNKB	CWBC

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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

CWBC	+ 0.89	ACNB
ACNB	+ 0.78	AFBI
CWBC	+ 0.78	AFBI
LNKB	+ 0.55	AFBI
CWBC	+ 0.53	LNKB
LNKB	+ 0.35	ACNB

High negative correlations

HFBL	- 0.59	AFBI
CWBC	- 0.58	HFBL
ACNB	- 0.58	HFBL
LNKB	- 0.21	HFBL
CWBC	- 0.0	CVLY
LNKB	- 0.0	CVLY

Risk-Adjusted Indicators

There is a big difference between Mid Stock performing well and Mid Penn 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 Mid Penn'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
AFBI	0.93	(0.19)	0.00	(1.04)	0.00	0.00	1.77	(1.19)	22.47
OFED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HMNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HFBL	1.61	0.09	0.03	0.14	2.07	(2.31)	6.19	(4.82)	13.83
HVBC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FRAF	1.05	0.23	0.19	0.45	0.89	(1.26)	4.20	(2.16)	7.66
CVLY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ACNB	1.47	(0.19)	0.00	(0.31)	0.00	0.00	2.30	(3.25)	9.48
LNKB	1.28	0.02	0.01	0.03	1.50	(1.40)	3.13	(2.78)	6.57
CWBC	1.02	(0.05)	0.00	(0.06)	0.00	0.00	2.48	(2.17)	6.94

Mid Penn Corporate Management

Scott Micklewright	Chief Lending Officer of Mid Penn Bank and Executive VP of Mid Penn Bank	Profile
Joan Dickinson	Ex Office	Profile
Allison Johnson	EVP CFO	Profile
Tracie Youngblood	Senior Officer	Profile
Elizabeth Martin	Corporate Secretary	Profile
CFP CFP	Ex Bank	Profile

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