Blue Foundry Correlations

BLFY Stock  USD 9.93  0.23  2.37%   
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 0.44 (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

  0.91AX Axos FinancialPairCorr
  0.96BY Byline BancorpPairCorr
  0.61KB KB Financial GroupPairCorr
  0.81PB Prosperity BancsharesPairCorr
  0.87RF Regions FinancialPairCorr
  0.92VABK Virginia NationalPairCorr
  0.87VBNK VersaBank Earnings Call This WeekPairCorr
  0.94VBTX Veritex HoldingsPairCorr
  0.8TFC-PI Truist FinancialPairCorr
  0.89EGBN Eagle BancorpPairCorr
  0.74KEY-PJ KeyCorpPairCorr
  0.84KEY-PK KeyCorp Normal TradingPairCorr
  0.89WABC Westamerica BancorporationPairCorr
  0.82WAFD Washington FederalPairCorr
  0.9WASH Washington Trust BancorpPairCorr
  0.95EQBK Equity Bancshares,PairCorr
  0.73EVBN Evans BancorpPairCorr
  0.9WMPN William Penn BancorpPairCorr

Moving against Blue Stock

  0.84VBFC Village BankPairCorr
  0.45TECTP Tectonic FinancialPairCorr
  0.4DB Deutsche Bank AG Normal TradingPairCorr
  0.32EBTC Enterprise BancorpPairCorr
  0.76EFSI Eagle Financial ServicesPairCorr
  0.37WSBCP WesBancoPairCorr

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
BSBKCWBC
CIVBBSBK
HMNFCULL
HFBLCULL
  
High negative correlations   
CWBCHFBL
CIVBHFBL
CWBCLSBK
BSBKHFBL
CIVBLSBK
CIVBFNCB

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  1.41  0.07  0.03 (0.22) 1.91 
 5.67 
 13.32 
HVBC  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
LSBK  1.65  0.29  0.11  0.46  1.71 
 3.62 
 21.68 
CWBC  0.99 (0.11) 0.00 (0.15) 0.00 
 2.45 
 6.94 
OFED  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
BSBK  1.30  0.00  0.01 (0.06) 1.64 
 2.61 
 6.75 
FNCB  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
CIVB  1.32 (0.10) 0.00 (0.14) 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