Bar Harbor Correlations

BHB Stock

USD 30.58 0.85 2.86%

The current 90-days correlation between Bar Harbor Bankshares and Camden National is 0.78 (i.e., Poor diversification). The correlation of Bar Harbor 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.

Bar Harbor Correlation With Market

Very weak diversification

The correlation between Bar Harbor Bankshares and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bar Harbor Bankshares 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 Bar Harbor Bankshares. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Bar Stock

0.8	BY	Byline Bancorp	Pair Corr
0.65	PB	Prosperity Bancshares	Pair Corr
0.65	VBTX	Veritex Holdings	Pair Corr
0.71	TFC-PI	Truist Financial	Pair Corr
0.88	EBTC	Enterprise Bancorp	Pair Corr
0.83	EFSC	Enterprise Financial	Pair Corr
0.77	WASH	Washington Trust Bancorp	Pair Corr
0.8	EQBK	Equity Bancshares,	Pair Corr
0.74	ESSA	ESSA Bancorp	Pair Corr
0.66	EVBN	Evans Bancorp	Pair Corr
0.74	WMPN	William Penn Bancorp	Pair Corr
0.84	WNEB	Western New England	Pair Corr

Moving against Bar Stock

0.44

VBFC

Village Bank

Pair Corr

Related Correlations Analysis

	CAC	BMRC	AROW	AUBN	FNLC
CAC		0.86	0.36	-0.14	0.39	CAC
BMRC	0.86		0.27	-0.25	0.35	BMRC
AROW	0.36	0.27		0.61	0.88	AROW
AUBN	-0.14	-0.25	0.61		0.65	AUBN
FNLC	0.39	0.35	0.88	0.65		FNLC
	CAC	BMRC	AROW	AUBN	FNLC

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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

FNLC	+ 0.88	AROW
BMRC	+ 0.86	CAC
FNLC	+ 0.65	AUBN
AUBN	+ 0.61	AROW
FNLC	+ 0.39	CAC
AROW	+ 0.36	CAC

High negative correlations

AUBN	- 0.25	BMRC
AUBN	- 0.14	CAC

Risk-Adjusted Indicators

There is a big difference between Bar Stock performing well and Bar Harbor 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 Bar Harbor'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
CAC	1.15	(0.10)	(0.19)	2.51	(2.82)	6.00
BMRC	1.41	(0.09)	(0.17)	2.29	(3.37)	9.33
AROW	1.32	(0.21)	(0.31)	2.48	(3.05)	7.78
AUBN	1.57	(0.08)	0.12	4.18	(2.95)	9.06
FNLC	1.22	(0.11)	(0.24)	2.33	(2.63)	7.41

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