First Western Correlations

MYFW Stock

USD 24.83 2.40 8.81%

The current 90-days correlation between First Western Financial and Provident Bancorp is -0.2 (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

Very poor diversification

The correlation between First Western Financial and DJI is 0.86 (i.e., Very 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 various price indices.

Moving together with First Stock

0.86	BIRG	Bank of Ireland	Pair Corr
0.92	WSBC	WesBanco Earnings Call Tomorrow	Pair Corr
0.9	FBIZ	First Business Financial Earnings Call This Week	Pair Corr
0.9	FFWM	First Foundation Earnings Call This Week	Pair Corr
0.9	AUB	Atlantic Union Bankshares	Pair Corr
0.86	BHB	Bar Harbor Bankshares	Pair Corr
0.94	BOH	Bank of Hawaii Earnings Call Today	Pair Corr
0.87	CBU	Community Bank System Earnings Call Tomorrow	Pair Corr
0.89	HTB	HomeTrust Bancshares Symbol Change	Pair Corr
0.77	WBCPM	Westpac Banking	Pair Corr
0.74	NPB	Northpointe Bancshares	Pair Corr
0.86	PFS	Provident Financial Earnings Call Tomorrow	Pair Corr
0.82	PGC	Peapack Gladstone Earnings Call This Week	Pair Corr
0.65	PRK	Park National Earnings Call Today	Pair Corr
0.93	TMP	Tompkins Financial Earnings Call This Week	Pair Corr
0.92	HBCP	Home Bancorp Earnings Call Today	Pair Corr
0.69	BOQPG	Bank of Queensland	Pair Corr
0.75	INBK	First Internet Bancorp Earnings Call This Week	Pair Corr
0.9	INDB	Independent Bank	Pair Corr
0.8	LSBK	Lake Shore Bancorp	Pair Corr
0.94	MSBI	Midland States Bancorp	Pair Corr
0.86	NFBK	Northfield Bancorp Earnings Call Tomorrow	Pair Corr
0.96	NRIM	Northrim BanCorp	Pair Corr
0.88	MBLPD	Macquarie Bank	Pair Corr
0.74	PFIS	Peoples Fin	Pair Corr
0.85	BFL	BSP Financial Group	Pair Corr
0.89	RRBI	Red River Bancshares	Pair Corr
0.74	ACNB	ACNB	Pair Corr
0.84	SBCF	Seacoast Banking Earnings Call This Week	Pair Corr
0.85	AROW	Arrow Financial Earnings Call This Week	Pair Corr
0.89	SFNC	Simmons First National	Pair Corr

Moving against First Stock

0.91	601658	Postal Savings Bank	Pair Corr
0.88	601665	Qilu Bank	Pair Corr
0.59	LDI	Loandepot	Pair Corr
0.57	SFBC	Sound Financial Bancorp Earnings Call This Week	Pair Corr
0.49	BKRKF	PT Bank Rakyat	Pair Corr

Related Correlations Analysis

	PVBC	WNEB	CFFI	FUNC	LCNB	BPRN	FVCB	ISTR	VABK	OVLY
PVBC		-0.27	-0.28	-0.52	-0.17	-0.02	0.0	-0.16	-0.48	0.09	PVBC
WNEB	-0.27		0.72	0.89	0.95	0.93	0.86	0.93	0.68	0.83	WNEB
CFFI	-0.28	0.72		0.75	0.78	0.67	0.64	0.67	0.79	0.7	CFFI
FUNC	-0.52	0.89	0.75		0.85	0.75	0.69	0.8	0.78	0.64	FUNC
LCNB	-0.17	0.95	0.78	0.85		0.91	0.89	0.94	0.68	0.88	LCNB
BPRN	-0.02	0.93	0.67	0.75	0.91		0.86	0.87	0.55	0.9	BPRN
FVCB	0.0	0.86	0.64	0.69	0.89	0.86		0.95	0.52	0.94	FVCB
ISTR	-0.16	0.93	0.67	0.8	0.94	0.87	0.95		0.6	0.89	ISTR
VABK	-0.48	0.68	0.79	0.78	0.68	0.55	0.52	0.6		0.52	VABK
OVLY	0.09	0.83	0.7	0.64	0.88	0.9	0.94	0.89	0.52		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	+ 0.95	WNEB
ISTR	+ 0.95	FVCB
ISTR	+ 0.94	LCNB
OVLY	+ 0.94	FVCB
BPRN	+ 0.93	WNEB
ISTR	+ 0.93	WNEB

High negative correlations

FUNC	- 0.52	PVBC
VABK	- 0.48	PVBC
CFFI	- 0.28	PVBC
WNEB	- 0.27	PVBC
LCNB	- 0.17	PVBC
ISTR	- 0.16	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	0.04	(2.61)	0.52	(0.75)	1.73	(1.08)	3.72
WNEB	1.04	0.15	0.11	0.25	0.99	(1.28)	3.24	(2.14)	6.92
CFFI	1.40	0.01	(0.01)	0.08	1.78	(1.50)	3.49	(2.94)	8.22
FUNC	1.34	0.04	0.02	0.10	1.74	(1.31)	3.79	(2.74)	10.37
LCNB	1.33	0.19	0.11	0.33	1.31	(1.62)	3.48	(2.13)	8.02
BPRN	1.19	0.27	0.17	0.50	1.15	(1.39)	3.27	(2.68)	9.93
FVCB	1.20	0.27	0.17	0.41	1.06	(1.44)	2.95	(2.48)	8.91
ISTR	1.07	0.26	0.26	0.35	0.63	(1.33)	2.78	(1.54)	8.74
VABK	1.51	(0.05)	(0.03)	0.02	1.51	(1.80)	3.27	(2.28)	7.94
OVLY	1.22	0.26	0.24	0.42	0.71	(1.60)	3.09	(1.49)	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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