Third Coast Correlations

TCBX Stock

USD 36.12 0.85 2.41%

The current 90-days correlation between Third Coast Bancshares and Byline Bancorp is 0.5 (i.e., Very weak diversification). The correlation of Third Coast 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.

Third Coast Correlation With Market

Very weak diversification

The correlation between Third Coast Bancshares and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Third Coast Bancshares and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Third Coast 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 Third Stock

0.82	AX	Axos Financial	Pair Corr
0.83	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.87	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.89	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.62	VABK	Virginia National	Pair Corr
0.91	VBNK	VersaBank Fiscal Year End 11th of December 2024	Pair Corr
0.92	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.84	TECTP	Tectonic Financial	Pair Corr
0.81	EBMT	Eagle Bancorp Montana Fiscal Year End 28th of January 2025	Pair Corr
0.88	EBTC	Enterprise Bancorp	Pair Corr
0.74	ECBK	ECB Bancorp	Pair Corr
0.61	CFG-PH	Citizens Financial Group,	Pair Corr
0.88	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.97	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.66	KEY-PJ	KeyCorp	Pair Corr
0.7	KEY-PK	KeyCorp	Pair Corr
0.71	KEY-PL	KeyCorp	Pair Corr
0.83	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.93	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.64	BANC-PF	Banc of California	Pair Corr
0.9	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.77	ESSA	ESSA Bancorp	Pair Corr
0.83	EVBN	Evans Bancorp	Pair Corr
0.96	EWBC	East West Bancorp Fiscal Year End 28th of January 2025	Pair Corr
0.83	WSBCP	WesBanco	Pair Corr
0.88	WMPN	William Penn Bancorp	Pair Corr

Moving against Third Stock

0.59	WF	Woori Financial Group	Pair Corr
0.53	TFC-PO	Truist Financial	Pair Corr
0.48	TFC-PR	Truist Financial	Pair Corr
0.46	CFG-PE	Citizens Financial	Pair Corr
0.48	FRCIL	First Republic Bank	Pair Corr
0.41	FRCHL	First Republic Bank	Pair Corr
0.4	FRCCL	First Republic Bank	Pair Corr
0.4	FRCKL	First Republic Bank	Pair Corr

Related Correlations Analysis

	BY	CCB	NBTB	CWBC	FVCB	HVBC	CFBK	ISTR	OFED	VBFC
BY		0.86	0.88	0.68	0.59	0.41	0.79	0.85	-0.39	0.37	BY
CCB	0.86		0.63	0.31	0.75	0.42	0.95	0.98	-0.75	0.67	CCB
NBTB	0.88	0.63		0.77	0.32	0.16	0.52	0.6	-0.08	0.22	NBTB
CWBC	0.68	0.31	0.77		0.07	0.25	0.22	0.28	0.28	-0.23	CWBC
FVCB	0.59	0.75	0.32	0.07		0.4	0.71	0.82	-0.78	0.59	FVCB
HVBC	0.41	0.42	0.16	0.25	0.4		0.26	0.44	-0.25	0.18	HVBC
CFBK	0.79	0.95	0.52	0.22	0.71	0.26		0.94	-0.77	0.64	CFBK
ISTR	0.85	0.98	0.6	0.28	0.82	0.44	0.94		-0.77	0.67	ISTR
OFED	-0.39	-0.75	-0.08	0.28	-0.78	-0.25	-0.77	-0.77		-0.78	OFED
VBFC	0.37	0.67	0.22	-0.23	0.59	0.18	0.64	0.67	-0.78		VBFC
	BY	CCB	NBTB	CWBC	FVCB	HVBC	CFBK	ISTR	OFED	VBFC

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

ISTR	+ 0.98	CCB
CFBK	+ 0.95	CCB
ISTR	+ 0.94	CFBK
NBTB	+ 0.88	BY
CCB	+ 0.86	BY
ISTR	+ 0.85	BY

High negative correlations

VBFC	- 0.78	OFED
OFED	- 0.78	FVCB
OFED	- 0.77	ISTR
OFED	- 0.77	CFBK
OFED	- 0.75	CCB
OFED	- 0.39	BY

Risk-Adjusted Indicators

There is a big difference between Third Stock performing well and Third Coast 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 Third Coast'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
BY	1.61	0.02	0.13	0.13	1.31	(2.07)	3.62	(2.51)	20.72
CCB	1.59	0.39	0.26	0.30	1.38	(1.77)	5.04	(2.69)	14.24
NBTB	1.49	(0.12)	0.02	0.07	1.57	(1.69)	3.15	(2.22)	17.43
CWBC	1.07	0.04	0.06	0.15	1.07	(1.19)	2.64	(2.16)	9.14
FVCB	2.16	0.09	0.09	0.17	2.24	(2.49)	5.74	(3.23)	18.16
HVBC	1.51	0.38	0.08	(0.95)	2.03	(1.59)	2.68	(4.11)	18.63
CFBK	1.99	0.20	0.11	0.27	1.91	(2.36)	6.00	(3.51)	12.35
ISTR	1.57	0.27	0.22	0.26	1.13	(1.80)	3.56	(2.50)	17.09
OFED	2.13	(0.22)	0.00	1.42	0.00	0.00	3.48	(5.28)	12.66
VBFC	1.45	0.92	0.45	(0.51)	0.00	(2.17)	1.10	(0.66)	44.05

Third Coast Corporate Management

Andrew Novarini	Executive Banking	Profile
Sarah Natho	Treasurer	Profile
Jo Dean	Secretary	Profile
William Bobbora	Executive Officer	Profile
Liz Eber	Executive Officer	Profile
Christopher Peacock	Executive Officer	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