Unity Bancorp Correlations

UNTY Stock

USD 52.46 1.55 2.87%

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

Weak diversification

The correlation between Unity Bancorp and DJI is 0.37 (i.e., 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

0.72	BIRG	Bank of Ireland	Pair Corr
0.8	AX	Axos Financial	Pair Corr
0.94	BY	Byline Bancorp Earnings Call Tomorrow	Pair Corr
0.87	PB	Prosperity Bancshares Earnings Call This Week	Pair Corr
0.88	RF	Regions Financial	Pair Corr
0.68	VABK	Virginia National Earnings Call Tomorrow	Pair Corr
0.81	VBNK	VersaBank	Pair Corr
0.62	SANB	SANTANDER UK 8	Pair Corr
0.85	EBMT	Eagle Bancorp Montana Earnings Call This Week	Pair Corr
0.87	EFSC	Enterprise Financial Earnings Call This Week	Pair Corr
0.91	EGBN	Eagle Bancorp Earnings Call Today	Pair Corr
0.74	WABC	Westamerica Bancorporation	Pair Corr
0.86	WAFD	Washington Federal	Pair Corr
0.9	WASH	Washington Trust Bancorp Earnings Call This Week	Pair Corr
0.94	EQBK	Equity Bancshares Earnings Call Today	Pair Corr
0.87	EWBC	East West Bancorp Earnings Call Tomorrow	Pair Corr
0.92	WNEB	Western New England Earnings Call This Week	Pair Corr
0.96	WSBC	WesBanco Earnings Call This Week	Pair Corr
0.86	WSFS	WSFS Financial Earnings Call This Week	Pair Corr
0.71	WTBA	West Bancorporation	Pair Corr
0.85	WTFC	Wintrust Financial	Pair Corr
0.92	FBIZ	First Business Financial	Pair Corr
0.88	FBLA	FB Bancorp Common	Pair Corr
0.76	FBNC	First Bancorp Earnings Call This Week	Pair Corr
0.83	FCAP	First Capital Earnings Call Tomorrow	Pair Corr
0.87	FCBC	First Community Banc	Pair Corr
0.96	FCCO	First Community Earnings Call This Week	Pair Corr
0.96	FFBC	First Financial Bancorp Earnings Call This Week	Pair Corr

Moving against Unity Stock

0.84	601658	Postal Savings Bank	Pair Corr
0.73	BEN	Bendigo and Adelaide	Pair Corr
0.66	601997	Bank of Guiyang	Pair Corr
0.52	FINW	Finwise Bancorp	Pair Corr

Related Correlations Analysis

	CBNK	PFIS	NFBK	FBIZ	PGC	BWB	RRBI	HBCP	NRIM	AROW
CBNK		0.61	0.72	0.52	0.8	0.75	0.53	0.62	0.37	0.21	CBNK
PFIS	0.61		0.93	0.89	0.88	0.92	0.89	0.89	0.79	0.7	PFIS
NFBK	0.72	0.93		0.91	0.97	0.97	0.92	0.94	0.83	0.71	NFBK
FBIZ	0.52	0.89	0.91		0.84	0.91	0.95	0.97	0.93	0.91	FBIZ
PGC	0.8	0.88	0.97	0.84		0.96	0.86	0.9	0.76	0.6	PGC
BWB	0.75	0.92	0.97	0.91	0.96		0.9	0.94	0.82	0.71	BWB
RRBI	0.53	0.89	0.92	0.95	0.86	0.9		0.97	0.95	0.83	RRBI
HBCP	0.62	0.89	0.94	0.97	0.9	0.94	0.97		0.94	0.84	HBCP
NRIM	0.37	0.79	0.83	0.93	0.76	0.82	0.95	0.94		0.9	NRIM
AROW	0.21	0.7	0.71	0.91	0.6	0.71	0.83	0.84	0.9		AROW
	CBNK	PFIS	NFBK	FBIZ	PGC	BWB	RRBI	HBCP	NRIM	AROW

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CBNK	0.92	(0.07)	0.00	(0.02)	0.00	0.00	2.67	(2.02)	6.99
PFIS	1.23	0.06	0.03	0.14	1.60	(1.21)	2.97	(2.33)	8.05
NFBK	1.38	0.03	0.02	0.09	1.72	(1.58)	3.24	(3.20)	7.76
FBIZ	1.15	0.12	0.09	0.18	1.09	(1.49)	3.04	(1.55)	6.72
PGC	1.52	(0.05)	(0.01)	0.02	2.29	(1.66)	3.64	(3.17)	9.84
BWB	1.28	(0.01)	0.00	0.05	1.51	(1.43)	3.22	(2.57)	6.37
RRBI	1.26	0.15	0.10	0.22	1.31	(1.36)	3.40	(2.35)	6.51
HBCP	1.17	0.11	0.08	0.18	1.28	(1.46)	3.62	(1.95)	9.17
NRIM	1.61	0.38	0.22	0.32	1.53	(1.89)	4.71	(2.42)	8.49
AROW	1.51	0.25	0.15	0.37	1.33	(1.84)	3.27	(2.89)	9.60

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