FIRST SAVINGS Correlations

8N4 Stock

EUR 23.40 0.60 2.50%

The current 90-days correlation between FIRST SAVINGS FINL and SIVERS SEMICONDUCTORS AB is -0.13 (i.e., Good diversification). The correlation of FIRST SAVINGS 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 SAVINGS Correlation With Market

Significant diversification

The correlation between FIRST SAVINGS FINL and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FIRST SAVINGS FINL and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to FIRST SAVINGS 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 SAVINGS 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 SAVINGS - 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 SAVINGS FINL to buy it.

Moving together with FIRST Stock

0.92	BBK	Truist Financial	Pair Corr
0.78	OCBB	OVERSEA CHINUNSPADR2	Pair Corr
0.79	OCBA	Oversea-Chinese BankingLimited	Pair Corr
0.84	UOB0	UTD OV BK	Pair Corr

Moving against FIRST Stock

0.65	BUU	DevEx Resources	Pair Corr
0.48	3YB0	POSBO UNSPADRS/20YC1	Pair Corr
0.46	ZGV3	Gevo Inc	Pair Corr
0.32	SEBA	Skandinaviska Enskilda	Pair Corr
0.31	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	3YB	BBK	OCBA	8SP	6NM	39O1	2DG	TLX	TM9	INVN
3YB		-0.06	0.17	-0.06	-0.15	-0.23	0.08	0.15	-0.12	-0.02	3YB
BBK	-0.06		0.84	-0.65	-0.02	-0.55	-0.92	0.63	-0.5	0.78	BBK
OCBA	0.17	0.84		-0.66	-0.17	-0.71	-0.83	0.81	-0.7	0.85	OCBA
8SP	-0.06	-0.65	-0.66		0.58	0.78	0.58	-0.23	0.54	-0.45	8SP
6NM	-0.15	-0.02	-0.17	0.58		0.62	0.06	0.13	0.2	0.03	6NM
39O1	-0.23	-0.55	-0.71	0.78	0.62		0.58	-0.44	0.65	-0.49	39O1
2DG	0.08	-0.92	-0.83	0.58	0.06	0.58		-0.64	0.48	-0.76	2DG
TLX	0.15	0.63	0.81	-0.23	0.13	-0.44	-0.64		-0.63	0.85	TLX
TM9	-0.12	-0.5	-0.7	0.54	0.2	0.65	0.48	-0.63		-0.63	TM9
INVN	-0.02	0.78	0.85	-0.45	0.03	-0.49	-0.76	0.85	-0.63		INVN
	3YB	BBK	OCBA	8SP	6NM	39O1	2DG	TLX	TM9	INVN

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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

INVN	+ 0.85	OCBA
INVN	+ 0.85	TLX
OCBA	+ 0.84	BBK
TLX	+ 0.81	OCBA
INVN	+ 0.78	BBK
39O1	+ 0.78	8SP

High negative correlations

2DG	- 0.92	BBK
2DG	- 0.83	OCBA
INVN	- 0.76	2DG
39O1	- 0.71	OCBA
TM9	- 0.7	OCBA
8SP	- 0.66	OCBA

Risk-Adjusted Indicators

There is a big difference between FIRST Stock performing well and FIRST SAVINGS 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 SAVINGS'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
3YB	2.26	0.67	0.18	(15.48)	1.51	(6.00)	2.63	(2.56)	37.50
BBK	1.44	0.19	0.12	(10.83)	1.32	(1.83)	2.55	(2.61)	13.32
OCBA	0.98	0.16	0.12	(1.22)	0.96	(1.24)	2.43	(1.68)	7.54
8SP	2.12	(0.14)	0.00	0.51	0.00	0.00	3.17	(4.56)	20.22
6NM	1.21	(0.06)	0.00	0.25	0.00	0.00	2.89	(3.33)	9.64
39O1	3.20	(0.36)	0.00	(0.73)	0.00	0.00	8.09	(5.63)	20.83
2DG	5.84	(0.16)	0.00	2.44	0.00	0.00	13.64	(10.53)	52.42
TLX	1.06	0.12	0.08	(1.07)	1.14	(1.12)	2.67	(1.85)	7.58
TM9	2.82	(0.01)	0.00	(0.03)	4.45	(3.10)	7.26	(6.43)	30.27
INVN	2.18	0.23	0.08	(0.25)	2.47	(2.47)	5.45	(4.00)	14.01

Be your own money manager

Our tools can tell you how much better you can do entering a position in FIRST SAVINGS without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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