US Bancorp Correlations
| USB-PA Preferred Stock | USD 872.50 7.36 0.85% |
The current 90-days correlation between US Bancorp PERP and US Bancorp is 0.38 (i.e., Weak diversification). The correlation of US 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.
US Bancorp Correlation With Market
Average diversification
The correlation between US Bancorp PERP and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding US Bancorp PERP and DJI in the same portfolio, assuming nothing else is changed.
USB-PA |
The ability to find closely correlated positions to US Bancorp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace US Bancorp when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back US Bancorp - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling US Bancorp PERP to buy it.
Moving together with USB-PA Preferred Stock
| 0.64 | KB | KB Financial Group | PairCorr |
| 0.65 | VBNK | VersaBank Fiscal Year End 11th of December 2024 | PairCorr |
| 0.64 | VBTX | Veritex Holdings Normal Trading | PairCorr |
| 0.84 | EBMT | Eagle Bancorp Montana Fiscal Year End 28th of January 2025 | PairCorr |
| 0.86 | ECBK | ECB Bancorp | PairCorr |
| 0.91 | CFG-PH | Citizens Financial Group, | PairCorr |
| 0.61 | EGBN | Eagle Bancorp Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.73 | KEY-PJ | KeyCorp | PairCorr |
| 0.82 | KEY-PK | KeyCorp | PairCorr |
| 0.81 | KEY-PL | KeyCorp | PairCorr |
| 0.64 | ESSA | ESSA Bancorp | PairCorr |
| 0.85 | TFINP | Triumph Financial | PairCorr |
| 0.63 | EVBN | Evans Bancorp | PairCorr |
| 0.75 | WSBCP | WesBanco | PairCorr |
| 0.67 | WMPN | William Penn Bancorp | PairCorr |
Moving against USB-PA Preferred Stock
| 0.74 | FRCIL | First Republic Bank | PairCorr |
| 0.58 | WBBW | Westbury Bancorp | PairCorr |
| 0.58 | FRCHL | First Republic Bank | PairCorr |
| 0.57 | FRCCL | First Republic Bank | PairCorr |
| 0.56 | FRCKL | First Republic Bank | PairCorr |
| 0.56 | FRCML | First Republic Bank | PairCorr |
| 0.5 | FRCLL | First Republic Bank | PairCorr |
Related Correlations Analysis
| 0.78 | 0.86 | 0.44 | 0.39 | USB-PH | ||
| 0.78 | 0.94 | 0.62 | 0.63 | KEY-PJ | ||
| 0.86 | 0.94 | 0.64 | 0.61 | KEY-PK | ||
| 0.44 | 0.62 | 0.64 | 0.66 | USB-PP | ||
| 0.39 | 0.63 | 0.61 | 0.66 | KEY-PI | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between USB-PA Preferred Stock performing well and US 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 US 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| USB-PH | 0.31 | 0.06 | (0.11) | 2.18 | 0.29 | 0.77 | 2.05 | |||
| KEY-PJ | 0.62 | 0.02 | (0.07) | 0.21 | 0.79 | 1.13 | 3.35 | |||
| KEY-PK | 0.67 | 0.07 | (0.02) | 0.45 | 0.85 | 1.30 | 3.61 | |||
| USB-PP | 0.38 | 0.03 | (0.18) | 6.38 | 0.36 | 0.88 | 2.46 | |||
| KEY-PI | 0.55 | 0.01 | (0.14) | 0.17 | 0.64 | 1.40 | 4.04 |
Be your own money manager
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