Washington Federal Correlations

WAFD Stock

USD 29.96 0.32 1.08%

The current 90-days correlation between Washington Federal and Finward Bancorp is 0.38 (i.e., Weak diversification). The correlation of Washington Federal 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.

Washington Federal Correlation With Market

Modest diversification

The correlation between Washington Federal and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Washington Federal and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Washington Federal. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

For information on how to trade Washington Stock refer to our How to Trade Washington Stock guide.

Moving together with Washington Stock

0.76	AX	Axos Financial	Pair Corr
0.71	BY	Byline Bancorp	Pair Corr
0.72	RF	Regions Financial	Pair Corr
0.67	WF	Woori Financial Group Earnings Call This Week	Pair Corr
0.9	VABK	Virginia National	Pair Corr
0.87	VBNK	VersaBank	Pair Corr
0.89	VBTX	Veritex Holdings	Pair Corr
0.62	TFC-PI	Truist Financial	Pair Corr
0.9	EBMT	Eagle Bancorp Montana	Pair Corr
0.67	ECBK	ECB Bancorp	Pair Corr
0.87	EGBN	Eagle Bancorp	Pair Corr
0.73	KEY-PJ	KeyCorp	Pair Corr
0.78	KEY-PK	KeyCorp	Pair Corr
0.86	WABC	Westamerica Bancorporation	Pair Corr
0.85	WASH	Washington Trust Bancorp	Pair Corr
0.81	EQBK	Equity Bancshares,	Pair Corr
0.78	WMPN	William Penn Bancorp	Pair Corr

Moving against Washington Stock

0.68	DB	Deutsche Bank AG	Pair Corr
0.55	TECTP	Tectonic Financial	Pair Corr
0.33	EBTC	Enterprise Bancorp	Pair Corr
0.51	WSBCP	WesBanco	Pair Corr
0.34	BANC-PF	Banc of California	Pair Corr

Related Correlations Analysis

	FNWD	GSBC	FMBH	FRAF	CWBC	PWOD	LBC	SRCE	WSBF	SMBC
FNWD		0.4	0.71	0.34	0.5	-0.18	-0.42	0.65	0.85	0.73	FNWD
GSBC	0.4		0.8	0.58	0.86	0.62	-0.09	0.8	0.55	0.81	GSBC
FMBH	0.71	0.8		0.71	0.86	0.26	-0.27	0.97	0.88	0.98	FMBH
FRAF	0.34	0.58	0.71		0.65	0.35	0.03	0.69	0.64	0.68	FRAF
CWBC	0.5	0.86	0.86	0.65		0.64	-0.04	0.83	0.6	0.87	CWBC
PWOD	-0.18	0.62	0.26	0.35	0.64		0.35	0.25	-0.14	0.28	PWOD
LBC	-0.42	-0.09	-0.27	0.03	-0.04	0.35		-0.33	-0.35	-0.33	LBC
SRCE	0.65	0.8	0.97	0.69	0.83	0.25	-0.33		0.86	0.98	SRCE
WSBF	0.85	0.55	0.88	0.64	0.6	-0.14	-0.35	0.86		0.87	WSBF
SMBC	0.73	0.81	0.98	0.68	0.87	0.28	-0.33	0.98	0.87		SMBC
	FNWD	GSBC	FMBH	FRAF	CWBC	PWOD	LBC	SRCE	WSBF	SMBC

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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

SMBC	+ 0.98	FMBH
SMBC	+ 0.98	SRCE
SRCE	+ 0.97	FMBH
WSBF	+ 0.88	FMBH
SMBC	+ 0.87	CWBC
SMBC	+ 0.87	WSBF

High negative correlations

LBC	- 0.42	FNWD
WSBF	- 0.35	LBC
SMBC	- 0.33	LBC
SRCE	- 0.33	LBC
LBC	- 0.27	FMBH
PWOD	- 0.18	FNWD

Risk-Adjusted Indicators

There is a big difference between Washington Stock performing well and Washington Federal 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 Washington Federal'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
FNWD	0.96	(0.25)	0.00	(0.99)	0.00	0.00	2.12	(2.54)	8.51
GSBC	1.52	0.04	0.00	0.14	1.99	(1.56)	2.62	(2.99)	19.07
FMBH	1.51	(0.05)	0.00	(0.04)	0.00	0.00	2.96	(2.64)	18.85
FRAF	1.09	0.18	0.11	0.58	0.95	(1.36)	4.60	(2.17)	11.12
CWBC	1.08	0.03	(0.01)	0.13	1.27	(1.16)	2.53	(1.95)	11.26
PWOD	1.51	0.30	0.11	1.23	1.78	(1.57)	4.61	(3.26)	12.24
LBC	2.06	0.15	0.02	(0.30)	2.16	(2.32)	5.04	(3.88)	10.73
SRCE	1.35	0.04	0.00	0.14	1.58	(1.67)	2.92	(3.40)	16.81
WSBF	1.41	(0.08)	0.00	(0.11)	0.00	0.00	2.59	(3.48)	15.87
SMBC	1.55	(0.01)	(0.02)	0.05	2.04	(1.68)	2.81	(3.04)	19.64

Washington Federal Corporate Executives

Elected by the shareholders, the Washington Federal's board of directors comprises two types of representatives: Washington Federal inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Washington. The board's role is to monitor Washington Federal's management team and ensure that shareholders' interests are well served. Washington Federal'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, Washington Federal's outside directors are responsible for providing unbiased perspectives on the board's policies.

Kelli CPA

Executive CFO

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