OceanFirst Financial Correlations

OCFC Stock

USD 19.78 0.10 0.51%

The current 90-days correlation between OceanFirst Financial Corp and Origin Bancorp is 0.79 (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

Modest diversification

The correlation between OceanFirst Financial Corp and DJI is 0.22 (i.e., Modest 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.

Build AI portfolio with OceanFirst Stock

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

0.75	VABK	Virginia National	Pair Corr
0.63	CPF	Central Pacific Financial	Pair Corr
0.85	FUNC	First United Earnings Call This Week	Pair Corr
0.74	HWBK	Hawthorn Bancshares	Pair Corr
0.68	IBOC	International Bancshares	Pair Corr
0.64	LCNB	LCNB	Pair Corr
0.74	BWFG	Bankwell Financial	Pair Corr
0.64	CFFI	CF Financial	Pair Corr
0.71	LNDNF	Lundin Energy AB	Pair Corr
0.73	FCAP	First Capital Downward Rally	Pair Corr

Moving against OceanFirst Stock

0.45

3YB

Postal Savings Bank

Pair Corr

Related Correlations Analysis

	OBK	PEBO	FSUN	TMP	PFBC	OSBC	QCRH	CNOB	CFR	WABC
OBK		0.98	0.89	0.98	-0.07	0.84	0.95	0.86	0.94	0.92	OBK
PEBO	0.98		0.88	0.99	0.03	0.88	0.96	0.89	0.9	0.94	PEBO
FSUN	0.89	0.88		0.92	0.27	0.93	0.86	0.91	0.87	0.79	FSUN
TMP	0.98	0.99	0.92		0.08	0.91	0.96	0.9	0.9	0.92	TMP
PFBC	-0.07	0.03	0.27	0.08		0.4	0.03	0.21	-0.04	-0.02	PFBC
OSBC	0.84	0.88	0.93	0.91	0.4		0.88	0.94	0.82	0.79	OSBC
QCRH	0.95	0.96	0.86	0.96	0.03	0.88		0.92	0.85	0.87	QCRH
CNOB	0.86	0.89	0.91	0.9	0.21	0.94	0.92		0.8	0.81	CNOB
CFR	0.94	0.9	0.87	0.9	-0.04	0.82	0.85	0.8		0.85	CFR
WABC	0.92	0.94	0.79	0.92	-0.02	0.79	0.87	0.81	0.85		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	+ 0.99	PEBO
PEBO	+ 0.98	OBK
TMP	+ 0.98	OBK
QCRH	+ 0.96	PEBO
QCRH	+ 0.96	TMP
QCRH	+ 0.95	OBK

High negative correlations

PFBC	- 0.07	OBK
CFR	- 0.04	PFBC
WABC	- 0.02	PFBC

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	1.11	0.36	0.27	0.49	0.80	(1.33)	3.15	(1.83)	8.57
PEBO	1.10	0.24	0.18	0.38	0.95	(1.33)	2.92	(1.84)	7.90
FSUN	1.59	0.22	0.10	0.32	1.91	(1.75)	3.49	(2.36)	10.98
TMP	1.33	0.35	0.22	0.52	1.22	(1.62)	3.87	(2.18)	10.36
PFBC	1.25	(0.02)	(0.02)	0.04	2.31	(1.28)	2.53	(2.09)	12.44
OSBC	1.30	0.17	0.10	0.25	1.46	(1.63)	3.09	(1.66)	11.79
QCRH	1.10	0.29	0.23	0.42	0.90	(1.32)	2.83	(1.54)	8.45
CNOB	1.29	0.19	0.15	0.26	1.07	(1.60)	3.61	(2.13)	10.00
CFR	1.03	0.22	0.21	0.33	0.69	(1.31)	3.15	(1.28)	7.64
WABC	1.08	0.13	0.08	0.27	1.06	(1.30)	2.95	(1.77)	7.61

OceanFirst Financial Corporate Management

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

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