Blue Foundry Correlations

BLFY Stock  USD 9.24  0.08  0.86%   
The correlation of Blue Foundry 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.

Blue Foundry Correlation With Market

Very weak diversification

The correlation between Blue Foundry Bancorp 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 Blue Foundry 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 Blue Foundry 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 census.

Moving together with Blue Stock

  0.66AX Axos FinancialPairCorr
  0.85BY Byline BancorpPairCorr
  0.78VABK Virginia NationalPairCorr
  0.8VBTX Veritex HoldingsPairCorr
  0.7EBTC Enterprise BancorpPairCorr
  0.66EFSC Enterprise FinancialPairCorr
  0.71EGBN Eagle BancorpPairCorr
  0.63WASH Washington Trust BancorpPairCorr
  0.79EQBK Equity Bancshares,PairCorr
  0.62TFINP Triumph FinancialPairCorr
  0.73EVBN Evans BancorpPairCorr
  0.74WMPN William Penn BancorpPairCorr
  0.77WNEB Western New EnglandPairCorr

Moving against Blue Stock

  0.64VBFC Village BankPairCorr

Related Correlations Analysis

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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   
CIVBCWBC
LSBKHFBL
BSBKHFBL
CIVBBSBK
BSBKLSBK
BSBKCWBC
  
High negative correlations   
CWBCLSBK
CWBCHFBL
CIVBLSBK
CIVBHFBL
CIVBFNCB
FNCBBSBK

Risk-Adjusted Indicators

There is a big difference between Blue Stock performing well and Blue Foundry 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 Blue Foundry'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
CULL  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
HMNF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
HFBL  1.61  0.16  0.07  0.48  2.06 
 5.67 
 13.32 
HVBC  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
LSBK  1.63  0.33  0.16  0.63  1.61 
 3.62 
 21.68 
CWBC  0.99 (0.21) 0.00 (0.33) 0.00 
 2.28 
 6.01 
OFED  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
BSBK  1.27 (0.02) 0.00 (0.16) 0.00 
 2.61 
 6.69 
FNCB  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
CIVB  1.47 (0.13) 0.00 (0.23) 0.00 
 2.63 
 8.37 

Blue Foundry Corporate Management

Keith OwesExecutive OfficerProfile
Alex MalkimanEx OfficerProfile
Thomas PackwoodSenior ExecutiveProfile
Elyse BeidnerExecutive OfficerProfile
Aleksander MalkimanExecutive OfficerProfile