National Bankshares Correlations

NKSH Stock

USD 31.98 0.06 0.19%

The current 90-days correlation between National Bankshares and Finward Bancorp is 0.11 (i.e., Average diversification). The correlation of National Bankshares 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.

National Bankshares Correlation With Market

Very weak diversification

The correlation between National Bankshares and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National Bankshares 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 National Bankshares. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For more detail on how to invest in National Stock please use our How to Invest in National Bankshares guide.

Moving together with National Stock

0.82	AX	Axos Financial	Pair Corr
0.81	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.81	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.75	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.68	VBNK	VersaBank Fiscal Year End 11th of December 2024	Pair Corr
0.77	VBTX	Veritex Holdings Normal Trading	Pair Corr
0.81	EBTC	Enterprise Bancorp	Pair Corr
0.84	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.7	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.82	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.64	WAFD	Washington Federal	Pair Corr
0.78	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.84	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.72	ESSA	ESSA Bancorp	Pair Corr
0.67	EVBN	Evans Bancorp	Pair Corr
0.69	EWBC	East West Bancorp Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	FNWD	CWBC	FFNW	OVLY	HMNF	OFED	CULL	HFBL	FNWB	FCCO
FNWD		-0.42	-0.03	0.43	0.19	-0.74	-0.26	0.08	-0.54	0.39	FNWD
CWBC	-0.42		-0.18	0.52	0.23	0.28	-0.23	-0.04	0.53	0.41	CWBC
FFNW	-0.03	-0.18		-0.25	-0.03	0.08	0.01	-0.06	0.29	-0.2	FFNW
OVLY	0.43	0.52	-0.25		0.5	-0.56	-0.43	0.09	-0.06	0.9	OVLY
HMNF	0.19	0.23	-0.03	0.5		-0.34	-0.5	-0.12	0.12	0.54	HMNF
OFED	-0.74	0.28	0.08	-0.56	-0.34		0.36	-0.16	0.46	-0.66	OFED
CULL	-0.26	-0.23	0.01	-0.43	-0.5	0.36		0.11	-0.11	-0.38	CULL
HFBL	0.08	-0.04	-0.06	0.09	-0.12	-0.16	0.11		0.02	0.06	HFBL
FNWB	-0.54	0.53	0.29	-0.06	0.12	0.46	-0.11	0.02		-0.11	FNWB
FCCO	0.39	0.41	-0.2	0.9	0.54	-0.66	-0.38	0.06	-0.11		FCCO
	FNWD	CWBC	FFNW	OVLY	HMNF	OFED	CULL	HFBL	FNWB	FCCO

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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

FCCO	+ 0.9	OVLY
FCCO	+ 0.54	HMNF
FNWB	+ 0.53	CWBC
OVLY	+ 0.52	CWBC
HMNF	+ 0.5	OVLY
FNWB	+ 0.46	OFED

High negative correlations

OFED	- 0.74	FNWD
FCCO	- 0.66	OFED
OFED	- 0.56	OVLY
FNWB	- 0.54	FNWD
CULL	- 0.5	HMNF
CULL	- 0.43	OVLY

Risk-Adjusted Indicators

There is a big difference between National Stock performing well and National Bankshares 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 National Bankshares' 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
FNWD	0.96	0.16	0.06	0.70	0.75	(1.21)	2.48	(1.80)	12.55
CWBC	1.07	0.04	0.06	0.15	1.07	(1.19)	2.64	(2.16)	9.14
FFNW	0.63	(0.01)	(0.12)	0.08	0.76	(0.68)	1.65	(1.13)	4.32
OVLY	1.78	0.13	0.13	0.19	1.45	(2.30)	5.14	(2.77)	11.90
HMNF	1.88	0.44	0.12	(1.02)	1.85	(2.37)	4.29	(3.19)	13.15
OFED	2.13	(0.22)	0.00	1.42	0.00	0.00	3.48	(5.28)	12.66
CULL	0.51	(0.10)	0.00	0.95	0.00	0.00	1.18	(1.64)	4.73
HFBL	1.73	(0.02)	(0.01)	0.09	2.43	(3.09)	3.82	(4.31)	21.70
FNWB	1.60	0.07	0.02	0.23	1.70	(1.81)	4.11	(2.82)	14.21
FCCO	1.35	0.21	0.16	0.31	0.95	(1.61)	4.19	(2.20)	11.05

National Bankshares Corporate Management

Lara Ramsey	Company VP	Profile
Joseph Beury	Senior Officer	Profile
Shelby Evans	Vice Compliance	Profile
Paul Mylum	Executive Blacksburg	Profile

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