Washington Trust Correlations

WASH Stock

USD 37.41 0.81 2.21%

The current 90-days correlation between Washington Trust Bancorp and Univest Pennsylvania is 0.87 (i.e., Very poor diversification). The correlation of Washington Trust 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 Trust Correlation With Market

Poor diversification

The correlation between Washington Trust Bancorp and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Washington Trust Bancorp 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 Trust 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 state.

Moving together with Washington Stock

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

Moving against Washington Stock

0.51	WF	Woori Financial Group	Pair Corr
0.51	TFC-PO	Truist Financial	Pair Corr
0.46	TFC-PR	Truist Financial	Pair Corr
0.45	CFG-PE	Citizens Financial	Pair Corr
0.39	FRCIL	First Republic Bank	Pair Corr
0.31	FRCCL	First Republic Bank	Pair Corr
0.31	FRCHL	First Republic Bank	Pair Corr

Related Correlations Analysis

	UVSP	WSBF	MPB	STBA	RBCAA	CPF	WMPN	PKBK	NBHC	INDB
UVSP		0.74	0.8	0.54	0.93	0.82	0.74	0.91	0.93	0.97	UVSP
WSBF	0.74		0.67	0.56	0.71	0.57	0.39	0.74	0.71	0.71	WSBF
MPB	0.8	0.67		0.13	0.91	0.79	0.82	0.88	0.89	0.86	MPB
STBA	0.54	0.56	0.13		0.29	0.4	-0.03	0.35	0.28	0.42	STBA
RBCAA	0.93	0.71	0.91	0.29		0.87	0.88	0.97	0.93	0.95	RBCAA
CPF	0.82	0.57	0.79	0.4	0.87		0.79	0.86	0.76	0.81	CPF
WMPN	0.74	0.39	0.82	-0.03	0.88	0.79		0.83	0.81	0.78	WMPN
PKBK	0.91	0.74	0.88	0.35	0.97	0.86	0.83		0.89	0.92	PKBK
NBHC	0.93	0.71	0.89	0.28	0.93	0.76	0.81	0.89		0.96	NBHC
INDB	0.97	0.71	0.86	0.42	0.95	0.81	0.78	0.92	0.96		INDB
	UVSP	WSBF	MPB	STBA	RBCAA	CPF	WMPN	PKBK	NBHC	INDB

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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

INDB	+ 0.97	UVSP
PKBK	+ 0.97	RBCAA
INDB	+ 0.96	NBHC
INDB	+ 0.95	RBCAA
RBCAA	+ 0.93	UVSP
NBHC	+ 0.93	UVSP

High negative correlations

WMPN

- 0.03

STBA

Risk-Adjusted Indicators

There is a big difference between Washington Stock performing well and Washington Trust 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 Trust'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
UVSP	1.58	0.01	0.09	0.13	1.53	(2.08)	3.47	(2.72)	18.49
WSBF	1.48	(0.07)	0.00	0.08	1.64	(1.71)	2.94	(2.65)	15.80
MPB	1.44	0.08	0.08	0.18	1.34	(1.68)	3.72	(2.53)	9.62
STBA	1.57	(0.15)	0.00	0.06	1.55	(1.91)	2.96	(2.36)	18.80
RBCAA	1.70	0.12	0.15	0.17	1.54	(1.94)	3.79	(3.13)	18.51
CPF	1.79	0.08	0.10	0.16	1.95	(2.12)	4.47	(3.43)	17.89
WMPN	0.86	0.10	0.05	0.29	0.77	(1.05)	2.23	(1.43)	6.97
PKBK	1.15	0.14	0.14	0.22	0.96	(1.29)	2.75	(1.88)	9.72
NBHC	1.63	0.02	0.08	0.13	1.62	(1.94)	3.29	(2.64)	17.64
INDB	1.65	0.10	0.15	0.17	1.37	(1.95)	3.68	(2.90)	18.58

Washington Trust Corporate Management

Ronald CPA	CFO EVP	Profile
CPA CPA	Chief VP	Profile
Rolando Lora	Executive Officer	Profile
Anthony Botelho	Executive Company	Profile
Joseph Confessore	Senior Banking	Profile

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