Onity Correlations

ONIT Stock

43.67 2.52 6.12%

The current 90-days correlation between Onity Group and PCB Bancorp is 0.28 (i.e., Modest diversification). The correlation of Onity 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.

Onity Correlation With Market

Very weak diversification

The correlation between Onity Group and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Onity Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Onity Stock

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

Moving against Onity Stock

0.4	MTG	MGIC Investment Corp	Pair Corr
0.37	DOCKF	Beyond Medical Techn	Pair Corr
0.36	RDN	Radian Group	Pair Corr
0.46	BROGF	BROGF	Pair Corr

Related Correlations Analysis

	PCB	BCML	CZNC	FSBW	WSBF	PLBC	FMAO	CBAN	FNLC	MVBF
PCB		0.85	0.8	0.85	0.62	0.67	0.92	0.72	0.85	0.79	PCB
BCML	0.85		0.61	0.82	0.47	0.47	0.8	0.55	0.69	0.61	BCML
CZNC	0.8	0.61		0.69	0.9	0.95	0.92	0.97	0.94	0.88	CZNC
FSBW	0.85	0.82	0.69		0.64	0.57	0.82	0.67	0.77	0.64	FSBW
WSBF	0.62	0.47	0.9	0.64		0.91	0.79	0.93	0.87	0.75	WSBF
PLBC	0.67	0.47	0.95	0.57	0.91		0.84	0.96	0.9	0.83	PLBC
FMAO	0.92	0.8	0.92	0.82	0.79	0.84		0.87	0.93	0.87	FMAO
CBAN	0.72	0.55	0.97	0.67	0.93	0.96	0.87		0.95	0.79	CBAN
FNLC	0.85	0.69	0.94	0.77	0.87	0.9	0.93	0.95		0.79	FNLC
MVBF	0.79	0.61	0.88	0.64	0.75	0.83	0.87	0.79	0.79		MVBF
	PCB	BCML	CZNC	FSBW	WSBF	PLBC	FMAO	CBAN	FNLC	MVBF

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Risk-Adjusted Indicators

There is a big difference between Onity Stock performing well and Onity 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 Onity'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
PCB	1.28	0.04	0.01	0.13	1.46	(1.46)	2.49	(2.36)	8.70
BCML	1.32	0.17	0.08	0.54	1.31	(1.51)	3.46	(2.78)	9.92
CZNC	1.15	0.29	0.19	0.75	1.05	(1.47)	3.19	(1.62)	7.41
FSBW	1.17	0.02	(0.02)	0.12	1.27	(1.43)	3.28	(2.14)	9.27
WSBF	1.19	0.26	0.15	7.38	1.04	(1.43)	2.59	(2.52)	10.50
PLBC	1.10	0.30	0.28	0.37	0.57	(1.24)	3.05	(1.60)	12.44
FMAO	1.60	0.14	0.08	0.23	1.53	(2.02)	4.61	(3.23)	10.83
CBAN	1.10	0.32	0.25	0.50	0.81	(1.38)	3.31	(1.24)	9.08
FNLC	1.26	0.18	0.13	0.30	1.01	(1.67)	3.44	(2.02)	7.07
MVBF	1.26	0.05	0.02	0.14	1.39	(1.45)	3.48	(2.69)	8.93

Onity Corporate Management

Jenna Evans	Chief VP	Profile
Joseph JD	Chief Officer	Profile
Aaron Wade	Executive Officer	Profile
Dennis Zeleny	Executive Officer	Profile
Joseph Samarias	Chief Officer	Profile

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