Unity Bancorp Correlations

Stocks . USA . 
Stock . Unity Bancorp
UNTY Stock  USD 52.50  0.51  0.96%   
The current 90-days correlation between Unity Bancorp and Capital Bancorp is 0.72 (i.e., Poor diversification). The correlation of Unity Bancorp 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.

Unity Bancorp Correlation With Market

Very weak diversification

The correlation between Unity Bancorp and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Unity Bancorp and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Unity Stock
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Unity Bancorp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.
For more information on how to buy Unity Stock please use our How to Invest in Unity Bancorp guide.

Moving together with Unity Stock

  0.62BIRG Bank of IrelandPairCorr
  0.74AX Axos FinancialPairCorr
  0.94BY Byline BancorpPairCorr
  0.82PB Prosperity BancsharesPairCorr
  0.89RF Regions FinancialPairCorr
  0.71VABK Virginia NationalPairCorr
  0.84VBNK VersaBankPairCorr
  0.9EBMT Eagle Bancorp MontanaPairCorr
  0.75EGBN Eagle BancorpPairCorr
  0.63WABC Westamerica BancorporationPairCorr
  0.83WAFD Washington FederalPairCorr
  0.78WASH Washington Trust BancorpPairCorr
  0.89EQBK Equity Bancshares,PairCorr
  0.88EWBC East West BancorpPairCorr
  0.9WNEB Western New EnglandPairCorr
  0.92WSBC WesBancoPairCorr
  0.85WSFS WSFS FinancialPairCorr
  0.66WTBA West BancorporationPairCorr
  0.88WTFC Wintrust FinancialPairCorr
  0.89FBIZ First Business FinancialPairCorr
  0.82FBLA FB Bancorp, CommonPairCorr
  0.7FBNC First BancorpPairCorr
  0.89FCAP First CapitalPairCorr
  0.73FCBC First Community BancPairCorr
  0.96FCCO First CommunityPairCorr
  0.76FDBC Fidelity DD BancorpPairCorr
  0.89FFBC First Financial BancorpPairCorr

Moving against Unity Stock

  0.71601658 Postal Savings BankPairCorr
  0.64BEN Bendigo and AdelaidePairCorr
  0.37601997 Bank of GuiyangPairCorr
  0.45FGBI First Guaranty BancsharesPairCorr

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

HBCP
+ 0.96
FBIZ
NRIM
+ 0.96
RRBI
NRIM
+ 0.95
FBIZ
RRBI
+ 0.94
FBIZ
HBCP
+ 0.93
RRBI
HBCP
+ 0.91
PFIS
  

High negative correlations

AROW
- 0.19
CBNK
NRIM
- 0.12
CBNK
RRBI
- 0.06
CBNK

Risk-Adjusted Indicators

There is a big difference between Unity Stock performing well and Unity Bancorp 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 Unity Bancorp'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
CBNK  1.06 (0.24) 0.00 (0.20) 0.00 
 0.00 
 2.67 
(2.88)
 6.99 
PFIS  1.30 (0.07)(0.04) 0.00  1.78 
(1.27)
 3.04 
(2.33)
 9.46 
NFBK  1.45 (0.05)(0.01) 0.03  1.94 
(1.55)
 3.24 
(3.20)
 9.28 
FBIZ  1.19  0.04  0.03  0.10  1.39 
(1.31)
 3.35 
(2.41)
 8.01 
PGC  1.60  0.10 (0.01)(0.08) 2.29 
(1.83)
 3.97 
(3.17)
 14.41 
BWB  1.49 (0.01) 0.01  0.06  1.71 
(1.63)
 3.64 
(2.86)
 9.89 
RRBI  1.26  0.08  0.06  0.14  1.41 
(1.39)
 3.16 
(2.59)
 7.75 
HBCP  1.19  0.05  0.04  0.11  1.43 
(1.36)
 2.97 
(2.40)
 9.17 
NRIM  1.68  0.21  0.13  0.21  1.75 
(1.95)
 4.20 
(2.99)
 10.29 
AROW  1.51  0.08  0.05  0.16  1.54 
(1.71)
 3.27 
(2.89)
 9.60 

Unity Bancorp Corporate Executives

Elected by the shareholders, the Unity Bancorp's board of directors comprises two types of representatives: Unity Bancorp inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Unity. The board's role is to monitor Unity Bancorp's management team and ensure that shareholders' interests are well served. Unity Bancorp's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Unity Bancorp's outside directors are responsible for providing unbiased perspectives on the board's policies.
JD IIIExecutive CFOProfile
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