First Western Correlations

MYFW Stock

USD 26.38 0.29 1.09%

The current 90-days correlation between First Western Financial and Provident Bancorp is -0.07 (i.e., Good diversification). The correlation of First Western 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.

First Western Correlation With Market

Modest diversification

The correlation between First Western Financial and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Western Financial and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in First Western Financial. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with First Stock

0.87	BIRG	Bank of Ireland	Pair Corr
0.94	AX	Axos Financial	Pair Corr
0.92	BY	Byline Bancorp Earnings Call Tomorrow	Pair Corr
0.92	PB	Prosperity Bancshares Earnings Call This Week	Pair Corr
0.97	RF	Regions Financial	Pair Corr
0.94	VBNK	VersaBank	Pair Corr
0.87	SANB	SANTANDER UK 8	Pair Corr
0.78	WBCPK	Westpac Banking	Pair Corr
0.76	CBAPM	Commonwealth Bank	Pair Corr
0.95	EBMT	Eagle Bancorp Montana Earnings Call This Week	Pair Corr
0.66	EFSC	Enterprise Financial Earnings Call This Week	Pair Corr
0.85	EGBN	Eagle Bancorp Earnings Call Today	Pair Corr
0.78	HSBK	Halyk Bank	Pair Corr
0.76	WABC	Westamerica Bancorporation	Pair Corr
0.87	WAFD	Washington Federal	Pair Corr
0.92	WASH	Washington Trust Bancorp Earnings Call This Week	Pair Corr
0.92	EQBK	Equity Bancshares Earnings Call Today	Pair Corr
0.96	EWBC	East West Bancorp Earnings Call Tomorrow	Pair Corr
0.89	WNEB	Western New England Earnings Call This Week	Pair Corr
0.91	WSBC	WesBanco Earnings Call This Week	Pair Corr
0.82	WSFS	WSFS Financial Earnings Call This Week	Pair Corr
0.74	WTBA	West Bancorporation	Pair Corr
0.95	WTFC	Wintrust Financial	Pair Corr
0.9	FBIZ	First Business Financial	Pair Corr
0.91	FBLA	FB Bancorp Common	Pair Corr
0.84	FBNC	First Bancorp Earnings Call This Week	Pair Corr
0.77	FCAP	First Capital Earnings Call Tomorrow	Pair Corr
0.79	FCBC	First Community Banc	Pair Corr
0.86	FCCO	First Community Earnings Call This Week	Pair Corr
0.85	FFBC	First Financial Bancorp Earnings Call This Week	Pair Corr

Moving against First Stock

0.92	601658	Postal Savings Bank	Pair Corr
0.67	601997	Bank of Guiyang	Pair Corr
0.65	BEN	Bendigo and Adelaide	Pair Corr
0.4	FINW	Finwise Bancorp	Pair Corr

Related Correlations Analysis

	PVBC	WNEB	CFFI	FUNC	LCNB	BPRN	FVCB	ISTR	VABK	OVLY
PVBC		-0.28	-0.33	-0.42	-0.24	-0.13	-0.04	-0.1	-0.38	0.05	PVBC
WNEB	-0.28		0.71	0.9	0.96	0.94	0.88	0.94	0.71	0.86	WNEB
CFFI	-0.33	0.71		0.75	0.78	0.68	0.65	0.67	0.81	0.71	CFFI
FUNC	-0.42	0.9	0.75		0.88	0.79	0.74	0.83	0.8	0.71	FUNC
LCNB	-0.24	0.96	0.78	0.88		0.91	0.88	0.94	0.73	0.89	LCNB
BPRN	-0.13	0.94	0.68	0.79	0.91		0.85	0.87	0.61	0.91	BPRN
FVCB	-0.04	0.88	0.65	0.74	0.88	0.85		0.94	0.6	0.91	FVCB
ISTR	-0.1	0.94	0.67	0.83	0.94	0.87	0.94		0.65	0.9	ISTR
VABK	-0.38	0.71	0.81	0.8	0.73	0.61	0.6	0.65		0.6	VABK
OVLY	0.05	0.86	0.71	0.71	0.89	0.91	0.91	0.9	0.6		OVLY
	PVBC	WNEB	CFFI	FUNC	LCNB	BPRN	FVCB	ISTR	VABK	OVLY

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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

LCNB	+ 0.96	WNEB
BPRN	+ 0.94	WNEB
ISTR	+ 0.94	WNEB
ISTR	+ 0.94	LCNB
ISTR	+ 0.94	FVCB
BPRN	+ 0.91	LCNB

High negative correlations

FUNC	- 0.42	PVBC
VABK	- 0.38	PVBC
CFFI	- 0.33	PVBC
WNEB	- 0.28	PVBC
LCNB	- 0.24	PVBC
BPRN	- 0.13	PVBC

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Western 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 First Western'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
PVBC	0.63	0.11	0.04	(0.36)	0.52	(0.75)	1.73	(1.08)	3.72
WNEB	1.02	0.13	0.08	0.22	1.10	(1.23)	3.00	(2.14)	6.92
CFFI	1.38	0.00	(0.02)	0.06	1.78	(1.46)	2.87	(2.89)	8.22
FUNC	1.27	0.03	0.02	0.10	1.67	(1.20)	2.92	(2.74)	10.37
LCNB	1.26	0.15	0.09	0.31	1.32	(1.50)	2.81	(2.13)	8.02
BPRN	1.24	0.22	0.12	0.37	1.32	(1.40)	3.27	(3.05)	9.93
FVCB	1.10	0.13	0.06	0.27	1.41	(1.24)	2.71	(2.48)	8.91
ISTR	1.16	0.21	0.16	0.26	1.03	(1.41)	3.13	(1.91)	8.74
VABK	1.51	(0.08)	(0.04)	(0.01)	1.70	(1.72)	3.26	(2.28)	7.94
OVLY	1.20	0.18	0.13	0.32	1.02	(1.50)	2.88	(1.60)	6.11

First Western Corporate Management

Scott CFA	Chief Officer	Profile
Matthew Cassell	Chief Banking	Profile
James Scott	Chief Officer	Profile
CFA CFA	Chief Officer	Profile

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