Berkshire Hills Correlations

BHLB Stock

USD 28.24 0.03 0.11%

The current 90-days correlation between Berkshire Hills Bancorp and National Bank Holdings is 0.79 (i.e., Poor diversification). The correlation of Berkshire Hills 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.

Berkshire Hills Correlation With Market

Very weak diversification

The correlation between Berkshire Hills Bancorp and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Berkshire Hills Bancorp 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 Berkshire Hills Bancorp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Berkshire Stock

0.84	AX	Axos Financial	Pair Corr
0.93	BY	Byline Bancorp	Pair Corr
0.62	KB	KB Financial Group	Pair Corr
0.65	NU	Nu Holdings	Pair Corr
0.89	PB	Prosperity Bancshares	Pair Corr
0.86	RF	Regions Financial	Pair Corr
0.77	VABK	Virginia National	Pair Corr
0.81	VBNK	VersaBank Earnings Call This Week	Pair Corr
0.78	VBTX	Veritex Holdings	Pair Corr
0.79	TFC-PI	Truist Financial	Pair Corr
0.63	CFG-PE	Citizens Financial	Pair Corr
0.79	EFSC	Enterprise Financial	Pair Corr
0.83	EGBN	Eagle Bancorp	Pair Corr
0.76	KEY-PJ	KeyCorp	Pair Corr
0.8	KEY-PK	KeyCorp	Pair Corr
0.78	WABC	Westamerica Bancorporation	Pair Corr
0.67	WAFD	Washington Federal	Pair Corr
0.94	WASH	Washington Trust Bancorp	Pair Corr
0.93	EQBK	Equity Bancshares,	Pair Corr
0.71	EVBN	Evans Bancorp	Pair Corr
0.9	WMPN	William Penn Bancorp	Pair Corr

Moving against Berkshire Stock

0.69	VBFC	Village Bank	Pair Corr
0.72	EFSI	Eagle Financial Services	Pair Corr

Related Correlations Analysis

	FNWD	CWBC	FCCO	FCAP	NBHC	NBTB	FISI	FDBC	CATC	SMBC
FNWD		0.85	-0.11	-0.54	0.83	0.72	-0.3	0.94	0.0	0.73	FNWD
CWBC	0.85		0.3	-0.37	0.93	0.84	-0.06	0.92	0.0	0.95	CWBC
FCCO	-0.11	0.3		0.31	0.12	0.31	0.61	0.09	0.0	0.48	FCCO
FCAP	-0.54	-0.37	0.31		-0.36	-0.49	0.41	-0.47	0.0	-0.15	FCAP
NBHC	0.83	0.93	0.12	-0.36		0.77	-0.15	0.88	0.0	0.89	NBHC
NBTB	0.72	0.84	0.31	-0.49	0.77		0.21	0.85	0.0	0.79	NBTB
FISI	-0.3	-0.06	0.61	0.41	-0.15	0.21		-0.1	0.0	0.12	FISI
FDBC	0.94	0.92	0.09	-0.47	0.88	0.85	-0.1		0.0	0.85	FDBC
CATC	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	CATC
SMBC	0.73	0.95	0.48	-0.15	0.89	0.79	0.12	0.85	0.0		SMBC
	FNWD	CWBC	FCCO	FCAP	NBHC	NBTB	FISI	FDBC	CATC	SMBC

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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

SMBC	+ 0.95	CWBC
FDBC	+ 0.94	FNWD
NBHC	+ 0.93	CWBC
FDBC	+ 0.92	CWBC
SMBC	+ 0.89	NBHC
FDBC	+ 0.88	NBHC

High negative correlations

FCAP	- 0.54	FNWD
NBTB	- 0.49	FCAP
FDBC	- 0.47	FCAP
FCAP	- 0.37	CWBC
NBHC	- 0.36	FCAP
FISI	- 0.3	FNWD

Risk-Adjusted Indicators

There is a big difference between Berkshire Stock performing well and Berkshire Hills 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 Berkshire Hills' 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
FNWD	0.90	(0.25)	0.00	(0.93)	0.00	0.00	1.36	(1.97)	8.51
CWBC	0.99	(0.13)	0.00	(0.15)	0.00	0.00	2.45	(2.17)	6.94
FCCO	1.17	0.03	0.02	0.11	1.55	(1.32)	3.02	(2.05)	9.38
FCAP	1.49	0.14	0.06	(0.35)	1.91	(1.63)	3.27	(3.81)	11.75
NBHC	1.04	(0.17)	0.00	(0.23)	0.00	0.00	1.80	(2.85)	7.65
NBTB	1.21	(0.04)	0.00	(0.06)	0.00	0.00	2.02	(2.79)	8.11
FISI	1.31	0.11	0.06	0.12	1.53	(1.38)	3.41	(2.25)	11.28
FDBC	1.80	(0.28)	0.00	(0.32)	0.00	0.00	2.47	(3.80)	12.12
CATC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SMBC	1.22	(0.17)	0.00	(0.16)	0.00	0.00	1.93	(2.74)	7.35

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