Red River Correlations

RRBI Stock

USD 59.40 0.66 1.12%

The current 90-days correlation between Red River Bancshares and Magyar Bancorp is 0.01 (i.e., Significant diversification). The correlation of Red River 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.

Red River Correlation With Market

Poor diversification

The correlation between Red River Bancshares and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Red River Bancshares and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Red Stock

0.95	AX	Axos Financial	Pair Corr
0.96	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.94	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.87	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.61	VABK	Virginia National	Pair Corr
0.74	VBNK	VersaBank Normal Trading	Pair Corr
0.82	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.69	TECTP	Tectonic Financial	Pair Corr
0.88	EBTC	Enterprise Bancorp	Pair Corr
0.96	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.82	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.94	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.62	WAFD	Washington Federal	Pair Corr
0.87	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.7	BANC-PF	Banc of California	Pair Corr
0.89	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.69	ESSA	ESSA Bancorp	Pair Corr
0.7	EVBN	Evans Bancorp	Pair Corr
0.81	EWBC	East West Bancorp Fiscal Year End 28th of January 2025	Pair Corr
0.71	WMPN	William Penn Bancorp	Pair Corr

Moving against Red Stock

0.44	CFG-PE	Citizens Financial	Pair Corr
0.4	TFC-PO	Truist Financial	Pair Corr
0.39	WF	Woori Financial Group	Pair Corr
0.39	TFC-PR	Truist Financial	Pair Corr
0.31	WAFDP	Washington Federal	Pair Corr

Related Correlations Analysis

	OFED	HFBL	HMNF	MGYR	HVBC	CULL	CWBC	RBKB	COFS	PBHC
OFED		-0.15	-0.34	-0.37	-0.25	0.36	0.35	-0.81	-0.61	-0.73	OFED
HFBL	-0.15		-0.1	0.09	0.03	0.11	-0.04	0.14	0.08	0.04	HFBL
HMNF	-0.34	-0.1		0.51	0.4	-0.5	0.17	0.55	0.59	0.43	HMNF
MGYR	-0.37	0.09	0.51		0.69	-0.69	0.48	0.54	0.71	0.48	MGYR
HVBC	-0.25	0.03	0.4	0.69		-0.54	0.25	0.57	0.44	0.15	HVBC
CULL	0.36	0.11	-0.5	-0.69	-0.54		-0.17	-0.48	-0.48	-0.42	CULL
CWBC	0.35	-0.04	0.17	0.48	0.25	-0.17		-0.29	0.39	0.03	CWBC
RBKB	-0.81	0.14	0.55	0.54	0.57	-0.48	-0.29		0.57	0.53	RBKB
COFS	-0.61	0.08	0.59	0.71	0.44	-0.48	0.39	0.57		0.75	COFS
PBHC	-0.73	0.04	0.43	0.48	0.15	-0.42	0.03	0.53	0.75		PBHC
	OFED	HFBL	HMNF	MGYR	HVBC	CULL	CWBC	RBKB	COFS	PBHC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

PBHC	+ 0.75	COFS
COFS	+ 0.71	MGYR
HVBC	+ 0.69	MGYR
COFS	+ 0.59	HMNF
RBKB	+ 0.57	HVBC
COFS	+ 0.57	RBKB

High negative correlations

RBKB	- 0.81	OFED
PBHC	- 0.73	OFED
CULL	- 0.69	MGYR
COFS	- 0.61	OFED
CULL	- 0.54	HVBC
CULL	- 0.5	HMNF

Risk-Adjusted Indicators

There is a big difference between Red Stock performing well and Red River 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 Red River'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
OFED	2.13	(0.22)	0.00	1.09	0.00	0.00	3.48	(5.28)	12.66
HFBL	1.75	0.01	(0.01)	0.11	2.40	(3.13)	3.82	(4.31)	21.70
HMNF	1.88	0.38	0.13	2.31	1.85	(2.37)	4.29	(3.19)	13.15
MGYR	0.62	0.10	0.02	0.68	0.55	(0.74)	1.63	(1.22)	3.88
HVBC	1.51	0.31	0.08	1.20	2.03	(1.59)	2.68	(4.11)	18.63
CULL	0.51	(0.12)	0.00	(5.70)	0.00	0.00	1.18	(1.64)	4.73
CWBC	1.03	0.03	0.04	0.12	1.08	(1.11)	2.53	(2.16)	9.14
RBKB	1.28	0.25	0.13	0.74	1.11	(1.65)	4.15	(2.65)	9.98
COFS	1.38	0.29	0.30	0.29	0.74	(1.91)	4.90	(2.01)	11.09
PBHC	1.50	0.20	0.05	1.04	1.60	(2.05)	3.59	(2.49)	22.14

Red River Corporate Management

CPA CPA	Ex CFO	Profile
Julia Callis	Co VP	Profile
Amanda JD	Gen VP	Profile
Bryon Salazar	Executive Bank	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC