FIRST NATIONAL Correlations
| 63Z Stock | EUR 26.60 0.20 0.75% |
The current 90-days correlation between FIRST NATIONAL FIN and Mr Cooper Group is 0.15 (i.e., Average diversification). The correlation of FIRST NATIONAL 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.
FIRST NATIONAL Correlation With Market
Average diversification
The correlation between FIRST NATIONAL FIN and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FIRST NATIONAL FIN and DJI in the same portfolio, assuming nothing else is changed.
FIRST |
The ability to find closely correlated positions to FIRST NATIONAL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FIRST NATIONAL 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 FIRST NATIONAL - 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 FIRST NATIONAL FIN to buy it.
Moving together with FIRST Stock
| 0.82 | 07WA | Mr Cooper Group | PairCorr |
| 0.63 | 1JU | FATFISH GROUP LTD | PairCorr |
| 0.91 | HU3 | Huntington Bancshares | PairCorr |
| 0.85 | BKJ | Brinker International | PairCorr |
| 0.69 | TC7 | TIANDE CHEMICAL | PairCorr |
| 0.92 | WD1 | WD 40 CO | PairCorr |
| 0.9 | 2KD | Kinder Morgan | PairCorr |
| 0.67 | 89W | GRUPO ECOENER EO | PairCorr |
| 0.83 | J7Z | Jazz Pharmaceuticals plc | PairCorr |
| 0.78 | ATR0 | ATHENE HOLDING PRFSERC | PairCorr |
| 0.61 | 8CF | CLOUDFLARE INC A | PairCorr |
| 0.8 | UFH | US Foods Holding | PairCorr |
| 0.84 | MAQ | Marriott International | PairCorr |
| 0.85 | 51KB | AVITA Medical | PairCorr |
Moving against FIRST Stock
| 0.81 | LYV | Lundin Energy AB | PairCorr |
| 0.75 | D7GA | NEL ASA ADR30 | PairCorr |
| 0.72 | PBB | Deutsche Pfandbriefbank | PairCorr |
| 0.66 | T77 | LendingTree | PairCorr |
| 0.68 | 9RV | REVLTNRY CNCPT | PairCorr |
| 0.42 | CHK | China Resources Beer | PairCorr |
| 0.57 | LHL1 | Lenovo Group Limited | PairCorr |
| 0.31 | DMN | Diamyd Medical AB | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between FIRST Stock performing well and FIRST NATIONAL 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 FIRST NATIONAL'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 07WA | 1.36 | 0.10 | 0.06 | 0.12 | 1.57 | 3.39 | 10.18 | |||
| 2UK | 1.68 | 0.04 | 0.02 | 0.06 | 2.26 | 3.49 | 12.17 | |||
| 63Z | 1.53 | 0.12 | 0.05 | 0.33 | 1.61 | 3.57 | 10.21 | |||
| PBB | 1.32 | (0.29) | 0.00 | 0.41 | 0.00 | 1.74 | 12.44 | |||
| 1EL | 0.65 | 0.04 | 0.02 | 0.12 | 0.68 | 1.76 | 4.38 | |||
| LDD | 3.53 | (0.33) | 0.00 | (0.23) | 0.00 | 8.74 | 28.22 | |||
| 58O | 1.41 | (0.15) | 0.00 | (0.16) | 0.00 | 4.00 | 14.77 | |||
| 74O | 1.45 | 0.06 | 0.01 | (0.07) | 2.01 | 4.90 | 11.99 |
Be your own money manager
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