Provident Financial Correlations

PFS Stock

USD 23.25 0.15 0.64%

The current 90-days correlation between Provident Financial and Park National is 0.7 (i.e., Poor diversification). The correlation of Provident 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.

Provident Financial Correlation With Market

Poor diversification

The correlation between Provident Financial Services and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Provident Financial Services and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Provident Stock

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

Moving together with Provident Stock

0.82	BIRG	Bank of Ireland	Pair Corr
0.87	AX	Axos Financial	Pair Corr
0.7	VABK	Virginia National	Pair Corr
0.77	FFIN	First Financial Bank	Pair Corr
0.96	ASB	Associated Banc Corp	Pair Corr
0.94	CPF	Central Pacific Financial	Pair Corr
0.68	FSFG	First Savings Financial	Pair Corr
0.92	HWC	Hancock Whitney Corp	Pair Corr
0.72	FUNC	First United Earnings Call Today	Pair Corr
0.92	FVCB	FVCBankcorp	Pair Corr
0.65	WBCPM	Westpac Banking	Pair Corr
0.93	MCB	Metropolitan Bank Holding	Pair Corr
0.91	MTB	MT Bank	Pair Corr
0.95	WBS	Webster Financial	Pair Corr
0.94	HFWA	Heritage Financial	Pair Corr
0.73	HWBK	Hawthorn Bancshares	Pair Corr
0.86	IBOC	International Bancshares	Pair Corr
0.94	ISTR	Investar Holding Corp	Pair Corr
0.9	LCNB	LCNB	Pair Corr
0.88	OVLY	Oak Valley Bancorp	Pair Corr
0.66	MBLPD	Macquarie Bank	Pair Corr
0.78	VBNK	VersaBank	Pair Corr
0.7	BFL	BSP Financial Group	Pair Corr
0.83	SFBS	ServisFirst Bancshares	Pair Corr
0.94	AROW	Arrow Financial	Pair Corr
0.93	TCBI	Texas Capital Bancshares	Pair Corr
0.82	BPRN	Bank Of Princeton	Pair Corr
0.84	TFSL	TFS Financial	Pair Corr
0.88	BWFG	Bankwell Financial	Pair Corr
0.63	CADE	Cadence Bancorp	Pair Corr
0.86	CFFI	CF Financial	Pair Corr

Moving against Provident Stock

0.74	3YB	Postal Savings Bank	Pair Corr
0.47	BBC	BNK Banking	Pair Corr
0.34	NVNIW	Nvni Group Limited	Pair Corr

Related Correlations Analysis

	PRK	FFBC	WAL	TRMK	TOWN	BANR	WAFD	CVBF	SFNC	NBTB
PRK		0.95	0.84	0.94	0.92	0.62	0.7	0.91	0.92	0.96	PRK
FFBC	0.95		0.89	0.97	0.93	0.5	0.72	0.88	0.96	0.94	FFBC
WAL	0.84	0.89		0.93	0.9	0.62	0.83	0.79	0.93	0.91	WAL
TRMK	0.94	0.97	0.93		0.95	0.54	0.75	0.87	0.98	0.96	TRMK
TOWN	0.92	0.93	0.9	0.95		0.55	0.71	0.87	0.95	0.95	TOWN
BANR	0.62	0.5	0.62	0.54	0.55		0.81	0.65	0.53	0.65	BANR
WAFD	0.7	0.72	0.83	0.75	0.71	0.81		0.72	0.75	0.77	WAFD
CVBF	0.91	0.88	0.79	0.87	0.87	0.65	0.72		0.87	0.89	CVBF
SFNC	0.92	0.96	0.93	0.98	0.95	0.53	0.75	0.87		0.95	SFNC
NBTB	0.96	0.94	0.91	0.96	0.95	0.65	0.77	0.89	0.95		NBTB
	PRK	FFBC	WAL	TRMK	TOWN	BANR	WAFD	CVBF	SFNC	NBTB

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Risk-Adjusted Indicators

There is a big difference between Provident Stock performing well and Provident 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 Provident 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
PRK	1.18	0.13	0.08	0.25	1.26	(1.34)	2.93	(1.73)	9.22
FFBC	1.25	0.32	0.30	0.41	0.75	(1.72)	3.31	(1.31)	7.24
WAL	1.36	0.18	0.11	0.20	1.52	(1.33)	3.88	(2.94)	10.08
TRMK	1.11	0.13	0.10	0.21	1.26	(1.27)	2.46	(1.41)	9.61
TOWN	1.07	0.11	0.07	0.22	1.22	(1.17)	2.71	(1.75)	7.41
BANR	1.20	0.05	0.03	0.14	1.57	(1.26)	2.95	(1.65)	10.81
WAFD	1.18	0.10	0.05	0.22	1.40	(1.24)	3.19	(2.74)	7.68
CVBF	1.24	0.12	0.07	0.22	1.34	(1.32)	3.01	(1.98)	9.56
SFNC	1.24	0.25	0.18	0.33	1.10	(1.52)	3.23	(1.58)	13.76
NBTB	1.19	0.07	0.05	0.16	1.22	(1.38)	3.31	(2.08)	8.92

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