Associated Banc Correlations

ASB Stock

USD 22.51 0.26 1.14%

The current 90-days correlation between Associated Banc Corp and National Bank Holdings is 0.83 (i.e., Very poor diversification). The correlation of Associated Banc 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.

Associated Banc Correlation With Market

Poor diversification

The correlation between Associated Banc Corp and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Associated Banc Corp 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 Associated Banc Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Associated Stock

0.78	AX	Axos Financial	Pair Corr
0.85	BY	Byline Bancorp	Pair Corr
0.68	KB	KB Financial Group	Pair Corr
0.94	PB	Prosperity Bancshares	Pair Corr
0.95	RF	Regions Financial	Pair Corr
0.84	VBNK	VersaBank	Pair Corr
0.76	VBTX	Veritex Holdings	Pair Corr
0.74	EBTC	Enterprise Bancorp	Pair Corr
0.69	EFSC	Enterprise Financial	Pair Corr
0.75	EGBN	Eagle Bancorp	Pair Corr
0.82	WASH	Washington Trust Bancorp	Pair Corr
0.91	EQBK	Equity Bancshares,	Pair Corr
0.66	ESSA	ESSA Bancorp	Pair Corr
0.63	TFINP	Triumph Financial	Pair Corr
0.89	EVBN	Evans Bancorp	Pair Corr
0.92	WMPN	William Penn Bancorp	Pair Corr

Moving against Associated Stock

0.64	VBFC	Village Bank	Pair Corr
0.53	DB	Deutsche Bank AG	Pair Corr
0.39	ECBK	ECB Bancorp	Pair Corr
0.35	TECTP	Tectonic Financial	Pair Corr

Related Correlations Analysis

	BFC	LBC	FBIZ	NBHC	OFG	GABC	FRME	MBWM	OSBC	WTFC
BFC		0.0	0.71	0.17	0.19	0.61	0.75	0.75	0.37	0.05	BFC
LBC	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	LBC
FBIZ	0.71	0.0		0.1	0.22	0.36	0.95	0.82	0.62	0.18	FBIZ
NBHC	0.17	0.0	0.1		0.84	0.73	0.3	0.39	0.73	0.88	NBHC
OFG	0.19	0.0	0.22	0.84		0.55	0.34	0.54	0.82	0.89	OFG
GABC	0.61	0.0	0.36	0.73	0.55		0.57	0.6	0.56	0.49	GABC
FRME	0.75	0.0	0.95	0.3	0.34	0.57		0.85	0.69	0.3	FRME
MBWM	0.75	0.0	0.82	0.39	0.54	0.6	0.85		0.78	0.46	MBWM
OSBC	0.37	0.0	0.62	0.73	0.82	0.56	0.69	0.78		0.86	OSBC
WTFC	0.05	0.0	0.18	0.88	0.89	0.49	0.3	0.46	0.86		WTFC
	BFC	LBC	FBIZ	NBHC	OFG	GABC	FRME	MBWM	OSBC	WTFC

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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

FRME	+ 0.95	FBIZ
WTFC	+ 0.89	OFG
WTFC	+ 0.88	NBHC
WTFC	+ 0.86	OSBC
MBWM	+ 0.85	FRME
OFG	+ 0.84	NBHC

High negative correlations

WTFC	- 0.0	LBC
OSBC	- 0.0	LBC
MBWM	- 0.0	LBC
FRME	- 0.0	LBC
GABC	- 0.0	LBC
OFG	- 0.0	LBC

Risk-Adjusted Indicators

There is a big difference between Associated Stock performing well and Associated Banc 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 Associated Banc'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
BFC	1.19	(0.03)	(0.10)	2.23	(2.75)	5.86
LBC	0.00	0.00	0.00	0.00	0.00	0.00
FBIZ	1.50	0.03	(0.03)	2.86	(3.19)	8.96
NBHC	1.13	(0.19)	(0.28)	1.77	(3.03)	6.80
OFG	1.20	(0.05)	(0.11)	2.07	(3.55)	8.39
GABC	1.06	(0.17)	(0.30)	2.41	(2.42)	6.95
FRME	1.31	(0.03)	(0.10)	2.90	(2.37)	8.01
MBWM	1.43	(0.06)	(0.11)	2.96	(3.56)	10.79
OSBC	1.17	(0.05)	(0.12)	2.10	(2.88)	6.43
WTFC	1.30	(0.13)	(0.18)	2.39	(3.90)	8.01

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