Arrow Financial Correlations

AROW Stock

USD 25.69 0.45 1.72%

The current 90-days correlation between Arrow Financial and Heritage Commerce Corp is 0.7 (i.e., Poor diversification). The correlation of Arrow Financial 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Arrow Financial Correlation With Market

Very weak diversification

The correlation between Arrow Financial and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Arrow Financial and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Arrow Financial. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For more information on how to buy Arrow Stock please use our How to Invest in Arrow Financial guide.

Moving together with Arrow Stock

0.82	AX	Axos Financial	Pair Corr
0.7	BY	Byline Bancorp	Pair Corr
0.94	VABK	Virginia National	Pair Corr
0.88	VBTX	Veritex Holdings	Pair Corr
0.79	EGBN	Eagle Bancorp	Pair Corr
0.82	WABC	Westamerica Bancorporation	Pair Corr
0.87	WAFD	Washington Federal	Pair Corr
0.67	EQBK	Equity Bancshares,	Pair Corr
0.79	WAFDP	Washington Federal	Pair Corr
0.7	EVBN	Evans Bancorp	Pair Corr

Moving against Arrow Stock

0.75	VBFC	Village Bank	Pair Corr
0.6	TECTP	Tectonic Financial	Pair Corr
0.55	DB	Deutsche Bank AG	Pair Corr
0.42	TFC-PO	Truist Financial	Pair Corr
0.41	TFC-PR	Truist Financial	Pair Corr
0.63	WSBCP	WesBanco	Pair Corr
0.58	KEY-PI	KeyCorp	Pair Corr
0.49	BANC-PF	Banc of California	Pair Corr
0.31	KEY-PL	KeyCorp	Pair Corr

Related Correlations Analysis

	HTBK	WABC	HFWA	CATC	CVCY	NKSH	BAFN	AMNB	AFBI	COFS
HTBK		-0.03	0.44	0.0	0.0	0.0	0.63	0.0	0.15	-0.24	HTBK
WABC	-0.03		0.51	0.0	0.0	0.64	-0.45	0.0	0.54	0.57	WABC
HFWA	0.44	0.51		0.0	0.0	0.71	-0.06	0.0	0.11	0.44	HFWA
CATC	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CATC
CVCY	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	CVCY
NKSH	0.0	0.64	0.71	0.0	0.0		-0.52	0.0	0.33	0.77	NKSH
BAFN	0.63	-0.45	-0.06	0.0	0.0	-0.52		0.0	-0.15	-0.84	BAFN
AMNB	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	AMNB
AFBI	0.15	0.54	0.11	0.0	0.0	0.33	-0.15	0.0		0.23	AFBI
COFS	-0.24	0.57	0.44	0.0	0.0	0.77	-0.84	0.0	0.23		COFS
	HTBK	WABC	HFWA	CATC	CVCY	NKSH	BAFN	AMNB	AFBI	COFS

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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

COFS	+ 0.77	NKSH
NKSH	+ 0.71	HFWA
NKSH	+ 0.64	WABC
BAFN	+ 0.63	HTBK
COFS	+ 0.57	WABC
AFBI	+ 0.54	WABC

High negative correlations

COFS	- 0.84	BAFN
BAFN	- 0.52	NKSH
BAFN	- 0.45	WABC
COFS	- 0.24	HTBK
AFBI	- 0.15	BAFN
BAFN	- 0.06	HFWA

Risk-Adjusted Indicators

There is a big difference between Arrow Stock performing well and Arrow Financial 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 Arrow Financial'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
HTBK	1.12	(0.03)	0.00	(0.10)	0.00	0.00	2.22	(2.81)	7.95
WABC	1.15	(0.13)	0.00	2.46	0.00	0.00	2.31	(2.97)	6.49
HFWA	1.19	(0.07)	0.00	(0.16)	0.00	0.00	2.33	(3.27)	8.15
CATC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CVCY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NKSH	1.50	(0.12)	0.00	(0.17)	0.00	0.00	3.81	(3.03)	10.80
BAFN	2.02	0.61	0.32	0.44	1.57	(2.67)	4.62	(3.37)	18.73
AMNB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AFBI	1.14	(0.13)	0.00	(0.45)	0.00	0.00	2.53	(2.02)	22.46
COFS	1.03	(0.29)	0.00	(0.46)	0.00	0.00	1.56	(2.81)	8.87

Arrow Financial Corporate Management

Thomas CPA	CEO and President	Profile
Marc Yrsha	Senior Officer	Profile
Michael Jacobs	Executive Officer	Profile
Brooke Pancoe	Senior Officer	Profile
Annette Reitano	Senior Falls	Profile

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