OceanFirst Financial Correlations
| OCFCP Preferred Stock | USD 25.32 0.04 0.16% |
The current 90-days correlation between OceanFirst Financial Corp and United Community Banks is 0.1 (i.e., Average 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. If the correlation is 0, the equities are not correlated; they are entirely random.
OceanFirst Financial Correlation With Market
Significant diversification
The correlation between OceanFirst Financial Corp and DJI is 0.06 (i.e., Significant 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.
OceanFirst |
The ability to find closely correlated positions to OceanFirst Financial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace OceanFirst Financial 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 OceanFirst Financial - 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 OceanFirst Financial Corp to buy it.
Moving together with OceanFirst Preferred Stock
| 0.71 | VBFC | Village Bank Earnings Call This Week | PairCorr |
| 0.78 | TECTP | Tectonic Financial | PairCorr |
| 0.76 | EBTC | Enterprise Bancorp Earnings Call This Week | PairCorr |
| 0.69 | EFSC | Enterprise Financial Earnings Call This Week | PairCorr |
| 0.82 | BANC-PF | Banc of California Earnings Call This Week | PairCorr |
| 0.71 | EVBN | Evans Bancorp | PairCorr |
| 0.83 | WSBCP | WesBanco Earnings Call This Week | PairCorr |
Moving against OceanFirst Preferred Stock
| 0.76 | CFG-PE | Citizens Financial | PairCorr |
| 0.71 | TFC-PR | Truist Financial | PairCorr |
| 0.68 | TFC-PO | Truist Financial | PairCorr |
| 0.63 | NU | Nu Holdings Aggressive Push | PairCorr |
| 0.59 | WF | Woori Financial Group | PairCorr |
| 0.55 | KB | KB Financial Group | PairCorr |
| 0.53 | KEY-PI | KeyCorp Earnings Call This Week | PairCorr |
| 0.48 | CFG-PH | Citizens Financial Group, | PairCorr |
| 0.36 | KEY-PJ | KeyCorp Earnings Call This Week | PairCorr |
| 0.35 | KEY-PK | KeyCorp Earnings Call This Week | PairCorr |
| 0.85 | FRCIL | First Republic Bank | PairCorr |
| 0.83 | WAFDP | Washington Federal | PairCorr |
| 0.77 | FRCCL | First Republic Bank | PairCorr |
| 0.77 | FRCHL | First Republic Bank | PairCorr |
| 0.77 | SBNYL | Signature Bank | PairCorr |
| 0.76 | FRCKL | First Republic Bank | PairCorr |
| 0.76 | FRCML | First Republic Bank | PairCorr |
| 0.71 | FRCLL | First Republic Bank | PairCorr |
| 0.66 | FCAP | First Capital | PairCorr |
Related Correlations Analysis
| 0.47 | -0.17 | 0.43 | 0.51 | PNFPP | ||
| 0.47 | -0.21 | 0.69 | 0.74 | UCBIO | ||
| -0.17 | -0.21 | -0.13 | -0.05 | DCOMP | ||
| 0.43 | 0.69 | -0.13 | 0.89 | HTLFP | ||
| 0.51 | 0.74 | -0.05 | 0.89 | WTFCP | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between OceanFirst Preferred 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PNFPP | 0.48 | 0.03 | 0.02 | (1.47) | 0.59 | 1.16 | 3.79 | |||
| UCBIO | 0.58 | 0.06 | 0.05 | (5.76) | 0.60 | 1.32 | 3.39 | |||
| DCOMP | 0.92 | 0.02 | 0.00 | 0.14 | 1.15 | 1.95 | 6.61 | |||
| HTLFP | 0.23 | 0.02 | (0.02) | (0.28) | 0.23 | 0.48 | 2.87 | |||
| WTFCP | 0.11 | 0.02 | (0.03) | (7.13) | 0.00 | 0.24 | 0.80 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in OceanFirst Financial 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.Did you try this?
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OceanFirst Financial Corporate Management
| Michele Estep | NA Bank | Profile | |
| Steven Esq | Gen VP | Profile | |
| Christopher Maher | Chairman CEO | Profile | |
| Joseph III | COO Pres | Profile | |
| Karthik Sridharan | Ex Officer | Profile | |
| Jill Hewitt | VP Officer | Profile | |
| Angela Ho | VP Officer | Profile |