Western New Correlations

WNEB Stock

USD 9.40 0.10 1.05%

The current 90-days correlation between Western New England and Fifth Third Bancorp is 0.55 (i.e., Very weak diversification). The correlation of Western New 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.

Western New Correlation With Market

Very weak diversification

The correlation between Western New England and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western New England 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 Western New England. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Western Stock

0.8	AX	Axos Financial	Pair Corr
0.76	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.77	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.72	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.64	VBNK	VersaBank Fiscal Year End 11th of December 2024	Pair Corr
0.64	EBTC	Enterprise Bancorp	Pair Corr
0.78	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.77	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.69	WAFD	Washington Federal Normal Trading	Pair Corr
0.63	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.74	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.63	EWBC	East West Bancorp Fiscal Year End 28th of January 2025	Pair Corr

Moving against Western Stock

0.52	CFG-PE	Citizens Financial	Pair Corr
0.41	TFC-PR	Truist Financial	Pair Corr
0.4	TFC-PO	Truist Financial	Pair Corr
0.49	WAFDP	Washington Federal	Pair Corr

Related Correlations Analysis

	FITB	ZION	HBAN	CMA	MTB
FITB		0.94	0.97	0.96	0.96	FITB
ZION	0.94		0.98	0.92	0.94	ZION
HBAN	0.97	0.98		0.94	0.96	HBAN
CMA	0.96	0.92	0.94		0.97	CMA
MTB	0.96	0.94	0.96	0.97		MTB
	FITB	ZION	HBAN	CMA	MTB

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Risk-Adjusted Indicators

There is a big difference between Western Stock performing well and Western New 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 Western New'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
FITB	1.09	0.05	0.10	0.15	0.97	(1.21)	2.39	(2.01)	10.60
ZION	1.69	0.08	0.15	0.15	1.49	(1.97)	3.62	(2.89)	20.65
HBAN	1.26	0.13	0.22	0.18	0.85	(1.66)	2.87	(2.28)	14.20
CMA	1.50	0.18	0.17	0.21	1.36	(1.66)	3.53	(2.64)	14.10
MTB	1.39	0.23	0.27	0.24	0.83	(1.71)	3.41	(1.59)	16.03

Western New Corporate Management

John Bonini	Senior Counsel	Profile
Carole Hinkley	Assistant Officer	Profile
Allen III	Executive Lender	Profile
Meghan Hibner	Controller VP	Profile
Nadia Baral	VP Compliance	Profile

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