First Western Correlations

MYFW Stock

USD 25.99 0.23 0.89%

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

Poor diversification

The correlation between First Western Financial and DJI is 0.79 (i.e., Poor 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

0.74	BNPH	BNP PARIBAS ADR	Pair Corr
0.71	BIRG	Bank of Ireland	Pair Corr
0.76	AX	Axos Financial	Pair Corr
0.68	BY	Byline Bancorp	Pair Corr
0.64	KBN	Komplett Bank ASA	Pair Corr
0.8	PB	Prosperity Bancshares	Pair Corr
0.8	RF	Regions Financial Earnings Call This Week	Pair Corr
0.81	HH1	Hancock Whitney	Pair Corr
0.67	BCVN	Banque Cantonale Vaudoise	Pair Corr
0.63	LLBN	Liechtensteinische Earnings Call This Week	Pair Corr
0.86	VBNK	VersaBank	Pair Corr
0.72	TFBF	Kasikornbank Public	Pair Corr
0.79	B4M1	SpareBank 1 SR	Pair Corr
0.72	UIO	ATLANTIC UNION BANKSDL	Pair Corr
0.68	FRYA	Swedbank AB	Pair Corr
0.66	VNB	Valley National Bancorp	Pair Corr
0.74	EBMT	Eagle Bancorp Montana	Pair Corr
0.74	BNP	BNP Paribas SA	Pair Corr
0.62	EGBN	Eagle Bancorp	Pair Corr
0.69	HSBK	Halyk Bank	Pair Corr
0.83	PFZ	Pinnacle Financial	Pair Corr
0.75	WAFD	Washington Federal	Pair Corr

Moving against First Stock

0.69	3YB	Postal Savings Bank	Pair Corr
0.69	D7C	China CITIC Bank	Pair Corr
0.45	C3B	Chongqing Rural Comm	Pair Corr
0.41	ICBA	ICICI Bank Limited	Pair Corr

Related Correlations Analysis

	PVBC	WNEB	CFFI	FUNC	LCNB	BPRN	FVCB	ISTR	VABK	OVLY
PVBC		0.25	0.29	0.11	0.09	-0.05	0.1	0.08	0.09	0.1	PVBC
WNEB	0.25		0.88	0.71	0.93	0.83	0.9	0.95	0.66	0.87	WNEB
CFFI	0.29	0.88		0.6	0.82	0.72	0.81	0.81	0.73	0.85	CFFI
FUNC	0.11	0.71	0.6		0.77	0.64	0.44	0.6	0.78	0.4	FUNC
LCNB	0.09	0.93	0.82	0.77		0.91	0.87	0.93	0.66	0.85	LCNB
BPRN	-0.05	0.83	0.72	0.64	0.91		0.86	0.87	0.54	0.85	BPRN
FVCB	0.1	0.9	0.81	0.44	0.87	0.86		0.96	0.49	0.97	FVCB
ISTR	0.08	0.95	0.81	0.6	0.93	0.87	0.96		0.56	0.92	ISTR
VABK	0.09	0.66	0.73	0.78	0.66	0.54	0.49	0.56		0.5	VABK
OVLY	0.1	0.87	0.85	0.4	0.85	0.85	0.97	0.92	0.5		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

OVLY	+ 0.97	FVCB
ISTR	+ 0.96	FVCB
ISTR	+ 0.95	WNEB
LCNB	+ 0.93	WNEB
ISTR	+ 0.93	LCNB
OVLY	+ 0.92	ISTR

High negative correlations

BPRN

- 0.05

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	0.10	0.05	(0.72)	0.52	(0.75)	1.73	(1.08)	3.72
WNEB	1.11	0.23	0.16	0.35	0.99	(1.28)	2.94	(2.12)	7.61
CFFI	1.48	0.15	0.06	0.49	1.71	(1.61)	3.65	(2.75)	8.18
FUNC	1.22	0.04	0.02	0.10	1.78	(1.15)	3.21	(2.28)	11.47
LCNB	1.28	0.15	0.09	0.33	1.29	(1.55)	2.81	(2.13)	8.02
BPRN	1.34	0.07	0.04	0.17	1.49	(1.56)	3.27	(2.68)	9.94
FVCB	1.01	0.32	0.29	0.47	0.60	(1.29)	2.56	(1.40)	9.86
ISTR	0.95	0.30	0.33	0.46	0.44	(1.21)	2.78	(1.06)	5.37
VABK	1.59	0.02	(0.01)	0.10	1.67	(1.86)	3.96	(2.58)	10.22
OVLY	1.13	0.22	0.20	0.36	0.71	(1.46)	2.69	(1.49)	6.23

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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