Berkshire Hills Correlations

BHLB Stock

USD 26.77 0.65 2.49%

The current 90-days correlation between Berkshire Hills Bancorp and National Bank Holdings is 0.09 (i.e., Significant 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

Good diversification

The correlation between Berkshire Hills Bancorp and DJI is -0.04 (i.e., Good 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

0.78	AX	Axos Financial	Pair Corr
0.92	BY	Byline Bancorp	Pair Corr
0.85	PB	Prosperity Bancshares	Pair Corr
0.84	RF	Regions Financial	Pair Corr
0.88	VBNK	VersaBank	Pair Corr
0.79	VBTX	Veritex Holdings	Pair Corr
0.72	EBTC	Enterprise Bancorp	Pair Corr
0.74	EFSC	Enterprise Financial	Pair Corr
0.81	EGBN	Eagle Bancorp	Pair Corr
0.7	WASH	Washington Trust Bancorp	Pair Corr
0.89	EQBK	Equity Bancshares,	Pair Corr
0.7	ESSA	ESSA Bancorp	Pair Corr
0.81	TFINP	Triumph Financial	Pair Corr
0.88	EVBN	Evans Bancorp	Pair Corr
0.91	WMPN	William Penn Bancorp	Pair Corr

Moving against Berkshire Stock

0.69	VBFC	Village Bank	Pair Corr
0.61	DB	Deutsche Bank AG	Pair Corr
0.36	TECTP	Tectonic Financial	Pair Corr
0.35	ECBK	ECB Bancorp	Pair Corr
0.33	KEY-PI	KeyCorp	Pair Corr

Related Correlations Analysis

	FNWD	CWBC	FCCO	FCAP	NBHC	NBTB	FISI	FDBC	CATC	SMBC
FNWD		0.12	-0.54	-0.03	-0.14	-0.12	-0.36	0.52	0.0	-0.21	FNWD
CWBC	0.12		0.63	-0.57	0.75	0.85	0.6	0.79	0.0	0.87	CWBC
FCCO	-0.54	0.63		-0.32	0.62	0.69	0.81	0.21	0.0	0.88	FCCO
FCAP	-0.03	-0.57	-0.32		-0.83	-0.76	-0.14	-0.54	0.0	-0.47	FCAP
NBHC	-0.14	0.75	0.62	-0.83		0.94	0.56	0.6	0.0	0.77	NBHC
NBTB	-0.12	0.85	0.69	-0.76	0.94		0.66	0.68	0.0	0.86	NBTB
FISI	-0.36	0.6	0.81	-0.14	0.56	0.66		0.33	0.0	0.85	FISI
FDBC	0.52	0.79	0.21	-0.54	0.6	0.68	0.33		0.0	0.59	FDBC
CATC	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	CATC
SMBC	-0.21	0.87	0.88	-0.47	0.77	0.86	0.85	0.59	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

NBTB	+ 0.94	NBHC
SMBC	+ 0.88	FCCO
SMBC	+ 0.87	CWBC
SMBC	+ 0.86	NBTB
NBTB	+ 0.85	CWBC
SMBC	+ 0.85	FISI

High negative correlations

NBHC	- 0.83	FCAP
NBTB	- 0.76	FCAP
FCAP	- 0.57	CWBC
FDBC	- 0.54	FCAP
FCCO	- 0.54	FNWD
SMBC	- 0.47	FCAP

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	1.06	(0.07)	0.00	(0.34)	0.00	0.00	2.12	(1.97)	8.51
CWBC	1.03	(0.16)	0.00	(0.22)	0.00	0.00	2.45	(2.17)	6.01
FCCO	1.34	(0.15)	0.00	(0.17)	0.00	0.00	3.41	(3.73)	10.26
FCAP	1.23	0.42	0.23	0.89	1.24	(1.38)	3.26	(2.28)	10.37
NBHC	1.15	(0.20)	0.00	(0.24)	0.00	0.00	2.03	(3.03)	6.80
NBTB	1.23	(0.22)	0.00	(0.25)	0.00	0.00	2.03	(2.81)	8.13
FISI	1.26	(0.09)	0.00	(0.12)	0.00	0.00	2.31	(2.73)	7.14
FDBC	2.00	(0.24)	0.00	(0.27)	0.00	0.00	3.27	(3.80)	12.12
CATC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SMBC	1.32	(0.19)	0.00	(0.20)	0.00	0.00	2.10	(3.82)	6.67

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