Correlation Between WVS Financial and First Bankers
Can any of the company-specific risk be diversified away by investing in both WVS Financial and First Bankers at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining WVS Financial and First Bankers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between WVS Financial Corp and First Bankers Trustshares, you can compare the effects of market volatilities on WVS Financial and First Bankers and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in WVS Financial with a short position of First Bankers. Check out your portfolio center. Please also check ongoing floating volatility patterns of WVS Financial and First Bankers.
Diversification Opportunities for WVS Financial and First Bankers
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between WVS and First is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding WVS Financial Corp and First Bankers Trustshares in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on First Bankers Trustshares and WVS Financial is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on WVS Financial Corp are associated (or correlated) with First Bankers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of First Bankers Trustshares has no effect on the direction of WVS Financial i.e., WVS Financial and First Bankers go up and down completely randomly.
Pair Corralation between WVS Financial and First Bankers
If you would invest 1,614 in First Bankers Trustshares on August 29, 2024 and sell it today you would earn a total of 71.00 from holding First Bankers Trustshares or generate 4.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 0.41% |
| Values | Daily Returns |
WVS Financial Corp vs. First Bankers Trustshares
Performance |
| Timeline |
| WVS Financial Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| First Bankers Trustshares |
WVS Financial and First Bankers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WVS Financial and First Bankers
The main advantage of trading using opposite WVS Financial and First Bankers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WVS Financial position performs unexpectedly, First Bankers can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in First Bankers will offset losses from the drop in First Bankers' long position.| WVS Financial vs. Pioneer Bankcorp | WVS Financial vs. Liberty Northwest Bancorp | WVS Financial vs. First Community | WVS Financial vs. Coeur dAlene Bancorp |
| First Bankers vs. Greenville Federal Financial | First Bankers vs. First Ottawa Bancshares | First Bankers vs. Coastal Carolina Bancshares | First Bankers vs. Citizens Bancorp Investment |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Other Complementary Tools
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine |