Northwest Bancshares Correlations

NHS Stock  EUR 13.20  0.20  1.49%   
The current 90-days correlation between Northwest Bancshares and Provident Financial Services is 0.59 (i.e., Very weak diversification). The correlation of Northwest Bancshares 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.

Northwest Bancshares Correlation With Market

Poor diversification

The correlation between Northwest Bancshares and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northwest Bancshares and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Northwest Bancshares could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Northwest Bancshares when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Northwest Bancshares - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Northwest Bancshares to buy it.

Moving together with Northwest Stock

  0.98PQ3 Provident FinancialPairCorr
  0.93CFW Capitol Federal FinancialPairCorr
  0.79TB Territorial BancorpPairCorr
  0.71KBIA KB Financial GroupPairCorr
  0.83RHM Rheinmetall AGPairCorr

Moving against Northwest Stock

  0.86PKX POSCO HoldingsPairCorr
  0.83GGG GUDANG GARAMPairCorr
  0.48JUA Japan Real EstatePairCorr
  0.43K9R KENEDIX OFFICE INVPairCorr
  0.369NPA NIPPON PROLOGIS REITPairCorr

Related Correlations Analysis

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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   
RS6PQ3
CFWPQ3
RS6IUI1
IUI1PQ3
IUI1CFW
RS6CFW
  
High negative correlations   
VOWIUI1
VOWPQ3
RS6VOW
VOWCFW
8SPCFW
VOWINVN

Risk-Adjusted Indicators

There is a big difference between Northwest Stock performing well and Northwest Bancshares 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 Northwest Bancshares' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PQ3  1.55  0.09  0.08  0.20  1.28 
 3.11 
 14.65 
CFW  2.09  0.11  0.08  0.19  2.20 
 4.76 
 19.10 
9TB  1.89 (0.01) 0.05  0.12  2.14 
 4.92 
 15.49 
8SP  2.10 (0.16) 0.00 (0.04) 0.00 
 3.36 
 20.22 
39O1  3.56  0.23  0.03  5.47  3.51 
 8.41 
 24.06 
INVN  2.13  0.41  0.11  29.28  2.09 
 5.59 
 14.01 
IUI1  1.21  0.20  0.12  0.45  1.03 
 3.28 
 10.30 
INL  2.57  0.15  0.04  0.38  2.73 
 7.04 
 16.28 
VOW  1.28 (0.27) 0.00  49.98  0.00 
 2.24 
 9.42 
RS6  1.28  0.30  0.14  2.11  1.04 
 2.94 
 13.51 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Northwest Bancshares without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Northwest Bancshares Corporate Management

Elected by the shareholders, the Northwest Bancshares' board of directors comprises two types of representatives: Northwest Bancshares inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Northwest. The board's role is to monitor Northwest Bancshares' management team and ensure that shareholders' interests are well served. Northwest Bancshares' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Northwest Bancshares' outside directors are responsible for providing unbiased perspectives on the board's policies.