OceanFirst Financial Correlations

OCFC Stock

USD 17.84 0.11 0.61%

The current 90-days correlation between OceanFirst Financial Corp and Origin Bancorp is 0.78 (i.e., Poor diversification). The correlation of OceanFirst Financial 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.

OceanFirst Financial Correlation With Market

Very weak diversification

The correlation between OceanFirst Financial Corp and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OceanFirst Financial Corp and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OceanFirst Financial Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with OceanFirst Stock

0.69	EBMT	Eagle Bancorp Montana	Pair Corr
0.77	FCAP	First Capital	Pair Corr
0.73	FFBC	First Financial Bancorp	Pair Corr
0.76	BOH	Bank of Hawaii	Pair Corr
0.84	CAC	Camden National	Pair Corr
0.8	MPB	Mid Penn Bancorp	Pair Corr
0.83	PFS	Provident Financial	Pair Corr
0.77	TFC	Truist Financial Corp	Pair Corr
0.62	WAL	Western Alliance Ban	Pair Corr
0.72	GSBC	Great Southern Bancorp	Pair Corr
0.67	HBAN	Huntington Bancshares	Pair Corr
0.72	HOMB	Home BancShares	Pair Corr
0.8	HTBK	Heritage Commerce Corp	Pair Corr
0.93	IBCP	Independent Bank	Pair Corr
0.72	601187	Xiamen Bank	Pair Corr
0.64	LSBK	Lake Shore Bancorp	Pair Corr
0.73	MCBS	MetroCity Bankshares	Pair Corr
0.87	ORRF	Orrstown Financial	Pair Corr
0.7	PNBK	Patriot National Bancorp	Pair Corr
0.77	PNFP	Pinnacle Financial	Pair Corr
0.79	QCRH	QCR Holdings	Pair Corr
0.62	AFBI	Affinity Bancshares	Pair Corr
0.81	SBFG	SB Financial Group	Pair Corr
0.82	SMBC	Southern Missouri Bancorp	Pair Corr
0.77	SPFI	South Plains Financial	Pair Corr
0.67	BCAL	Southern California	Pair Corr
0.72	BOKF	BOK Financial	Pair Corr

Moving against OceanFirst Stock

0.68	601658	Postal Savings Bank	Pair Corr
0.39	LDI	Loandepot	Pair Corr
0.52	601665	Qilu Bank	Pair Corr
0.41	SFBC	Sound Financial Bancorp	Pair Corr
0.74	CMWCF	Cromwell Property	Pair Corr
0.58	BYFC	Broadway Financial Trending	Pair Corr
0.34	BKRKF	PT Bank Rakyat	Pair Corr

Related Correlations Analysis

	OBK	PEBO	FSUN	TMP	PFBC	OSBC	QCRH	CNOB	CFR	WABC
OBK		0.92	0.09	0.98	0.94	0.95	0.94	0.93	0.78	0.78	OBK
PEBO	0.92		0.33	0.92	0.91	0.87	0.89	0.96	0.87	0.8	PEBO
FSUN	0.09	0.33		0.1	0.11	0.02	-0.06	0.4	0.59	0.04	FSUN
TMP	0.98	0.92	0.1		0.94	0.96	0.94	0.91	0.77	0.78	TMP
PFBC	0.94	0.91	0.11	0.94		0.95	0.9	0.86	0.72	0.82	PFBC
OSBC	0.95	0.87	0.02	0.96	0.95		0.92	0.85	0.68	0.75	OSBC
QCRH	0.94	0.89	-0.06	0.94	0.9	0.92		0.85	0.67	0.78	QCRH
CNOB	0.93	0.96	0.4	0.91	0.86	0.85	0.85		0.91	0.69	CNOB
CFR	0.78	0.87	0.59	0.77	0.72	0.68	0.67	0.91		0.62	CFR
WABC	0.78	0.8	0.04	0.78	0.82	0.75	0.78	0.69	0.62		WABC
	OBK	PEBO	FSUN	TMP	PFBC	OSBC	QCRH	CNOB	CFR	WABC

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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

TMP	+ 0.98	OBK
CNOB	+ 0.96	PEBO
OSBC	+ 0.96	TMP
OSBC	+ 0.95	OBK
OSBC	+ 0.95	PFBC
PFBC	+ 0.94	OBK

High negative correlations

QCRH

- 0.06

FSUN

Risk-Adjusted Indicators

There is a big difference between OceanFirst Stock performing well and OceanFirst Financial 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 OceanFirst Financial'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
OBK	1.12	0.08	0.05	0.12	1.50	(1.17)	2.92	(3.65)	7.37
PEBO	1.14	(0.03)	(0.01)	0.03	1.55	(1.21)	2.92	(2.20)	7.20
FSUN	1.73	(0.06)	(0.02)	0.00	3.73	(1.64)	3.49	(2.52)	20.45
TMP	1.31	0.09	0.06	0.13	1.58	(1.43)	3.48	(2.40)	8.74
PFBC	1.15	0.05	0.03	0.12	1.43	(1.26)	2.43	(2.14)	8.81
OSBC	1.19	0.12	0.08	0.16	1.40	(1.37)	3.18	(1.60)	10.55
QCRH	1.32	0.06	0.04	0.10	1.76	(1.34)	3.39	(3.18)	8.20
CNOB	1.36	0.03	0.02	0.08	1.82	(1.47)	3.40	(2.91)	11.94
CFR	0.98	(0.03)	(0.02)	0.03	1.39	(0.99)	2.61	(1.63)	7.78
WABC	1.04	(0.10)	0.00	(0.06)	0.00	0.00	2.56	(1.81)	6.26

OceanFirst Financial Corporate Management

Steven Esq	General EVP	Profile
CISSP CISA	Senior Officer	Profile
Alfred Goon	Senior Relations	Profile
Chad Dally	Defense Aerospace	Profile
David Berninger	Executive CRO	Profile
Kevin Georgetti	Senior Officer	Profile

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