OceanFirst Financial Correlations

Delisted . USA . 
Preferred Stock . OceanFirst Financial Corp
OCFCPDelisted Preferred Stock  USD 25.00  0.00  0.00%   
The current 90-days correlation between OceanFirst Financial Corp and Premier Financial Corp is -0.11 (i.e., Good 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

Good diversification

The correlation between OceanFirst Financial Corp and DJI is -0.02 (i.e., Good 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.
  
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

  0.76CIHHF China Merchants BankPairCorr
  0.81MFG Mizuho FinancialPairCorr
  0.84PNC PNC Financial Services Sell-off TrendPairCorr
  0.62SHG Shinhan FinancialPairCorr
  0.74KB KB Financial GroupPairCorr
  0.64EC Ecopetrol SA ADRPairCorr
  0.67MUFG Mitsubishi UFJ Financial Normal TradingPairCorr
  0.79WF Woori Financial GroupPairCorr
  0.69TLK Telkom Indonesia TbkPairCorr
  0.83SMEGF Siemens Energy AGPairCorr
  0.81NHPAP National HealthcarePairCorr
  0.9BJRI BJs RestaurantsPairCorr
  0.61GDEN Golden EntertainmentPairCorr
  0.72KGC Kinross Gold Buyout TrendPairCorr
  0.81GOOG Alphabet Class CPairCorr
  0.64OOAG OMDA OilPairCorr
  0.66ZMPLF Zimplats HoldingsPairCorr
  0.69BNPQY BNP Paribas SAPairCorr
  0.65BBIXF Bonus BioGroupPairCorr
  0.78HL Hecla Mining Aggressive PushPairCorr

Moving against OceanFirst Preferred Stock

  0.66VFSWW VinFast AutoPairCorr
  0.6HDB HDFC Bank LimitedPairCorr
  0.56IBN ICICI Bank Limited Earnings Call This WeekPairCorr
  0.31USB-PH US BancorpPairCorr
  0.45MAHN Mid Atlantic HomePairCorr

Related Correlations Analysis


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

OBK
+ 0.56
NIC
FBMS
+ 0.51
BRKL
HTLF
+ 0.51
BRKL
HTLF
+ 0.42
FBMS
OBK
+ 0.3
BRKL
OBK
+ 0.25
PFC
  

High negative correlations

FBMS
- 0.83
PFC
HTLF
- 0.37
NIC
BRKL
- 0.36
PFC
HTLF
- 0.31
PFC
OBK
- 0.15
FBMS
NIC
- 0.05
PFC

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.

OceanFirst Financial Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with OceanFirst Financial preferred stock to make a market-neutral strategy. Peer analysis of OceanFirst Financial could also be used in its relative valuation, which is a method of valuing OceanFirst Financial by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

OceanFirst Financial Corporate Management

Michele EstepNA BankProfile
Steven EsqGen VPProfile
Christopher MaherChairman CEOProfile
Joseph IIICOO PresProfile
Karthik SridharanEx OfficerProfile
Jill HewittVP OfficerProfile
Angela HoVP OfficerProfile

Still Interested in OceanFirst Financial Corp?

Investing in delisted delisted preferred stocks can be risky, as the preferred stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.
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