Byline Bancorp Correlations

BY Stock

USD 31.52 0.25 0.79%

The current 90-days correlation between Byline Bancorp and First Mid Illinois is 0.93 (i.e., Almost no diversification). The correlation of Byline Bancorp 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.

Byline Bancorp Correlation With Market

Poor diversification

The correlation between Byline Bancorp and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Byline 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 Byline 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 manufacturing.

For more information on how to buy Byline Stock please use our How to Invest in Byline Bancorp guide.

Moving together with Byline Stock

0.99	AX	Axos Financial	Pair Corr
0.97	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.92	RF	Regions Financial Sell-off Trend	Pair Corr
0.63	VABK	Virginia National	Pair Corr
0.81	VBNK	VersaBank Fiscal Year End 11th of December 2024	Pair Corr
0.86	VBTX	Veritex Holdings Normal Trading	Pair Corr
0.67	TECTP	Tectonic Financial	Pair Corr
0.62	EBMT	Eagle Bancorp Montana Normal Trading	Pair Corr
0.91	EBTC	Enterprise Bancorp	Pair Corr
0.98	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.85	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.98	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.72	WAFD	Washington Federal	Pair Corr
0.9	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.73	BANC-PF	Banc of California	Pair Corr
0.91	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.69	ESSA	ESSA Bancorp	Pair Corr
0.73	EVBN	Evans Bancorp	Pair Corr
0.78	WMPN	William Penn Bancorp	Pair Corr

Moving against Byline Stock

0.64	CFG-PE	Citizens Financial	Pair Corr
0.58	TFC-PR	Truist Financial	Pair Corr
0.57	TFC-PO	Truist Financial	Pair Corr
0.35	WF	Woori Financial Group	Pair Corr
0.5	WAFDP	Washington Federal	Pair Corr

Related Correlations Analysis

	AFBI	OFED	HMNF	HFBL	HVBC	LNKB	BWFG	FNWD	FRAF	FCCO
AFBI		0.08	0.13	-0.12	0.29	0.21	0.25	0.24	0.25	0.1	AFBI
OFED	0.08		-0.34	-0.18	-0.25	-0.65	-0.22	-0.71	-0.23	-0.7	OFED
HMNF	0.13	-0.34		-0.14	0.4	0.51	0.66	0.2	0.58	0.56	HMNF
HFBL	-0.12	-0.18	-0.14		0.03	0.06	-0.11	0.1	-0.09	0.07	HFBL
HVBC	0.29	-0.25	0.4	0.03		0.39	0.66	0.43	0.25	0.28	HVBC
LNKB	0.21	-0.65	0.51	0.06	0.39		0.71	0.4	0.74	0.92	LNKB
BWFG	0.25	-0.22	0.66	-0.11	0.66	0.71		0.19	0.66	0.64	BWFG
FNWD	0.24	-0.71	0.2	0.1	0.43	0.4	0.19		-0.04	0.35	FNWD
FRAF	0.25	-0.23	0.58	-0.09	0.25	0.74	0.66	-0.04		0.71	FRAF
FCCO	0.1	-0.7	0.56	0.07	0.28	0.92	0.64	0.35	0.71		FCCO
	AFBI	OFED	HMNF	HFBL	HVBC	LNKB	BWFG	FNWD	FRAF	FCCO

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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

FCCO	+ 0.92	LNKB
FRAF	+ 0.74	LNKB
BWFG	+ 0.71	LNKB
FCCO	+ 0.71	FRAF
BWFG	+ 0.66	HMNF
BWFG	+ 0.66	HVBC

High negative correlations

FNWD	- 0.71	OFED
FCCO	- 0.7	OFED
LNKB	- 0.65	OFED
HMNF	- 0.34	OFED
HVBC	- 0.25	OFED
FRAF	- 0.23	OFED

Risk-Adjusted Indicators

There is a big difference between Byline Stock performing well and Byline Bancorp 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 Byline Bancorp'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AFBI	0.32	0.03	(0.19)	(0.07)	0.44	(0.43)	0.79	(0.65)	4.44
OFED	2.13	(0.21)	0.00	0.83	0.00	0.00	3.48	(5.28)	12.66
HMNF	1.88	0.38	0.12	3.54	1.85	(2.37)	4.29	(3.19)	13.15
HFBL	1.56	(0.17)	0.00	(0.27)	0.00	0.00	3.75	(4.31)	17.43
HVBC	1.51	0.33	0.08	5.99	2.03	(1.59)	2.68	(4.11)	18.63
LNKB	1.67	0.01	0.03	0.12	1.60	(2.23)	3.72	(2.70)	10.82
BWFG	1.69	0.12	0.12	0.18	1.89	(1.87)	3.64	(2.51)	17.30
FNWD	0.96	0.16	0.07	0.72	0.75	(1.21)	2.48	(1.80)	12.55
FRAF	0.81	0.19	0.04	(1.62)	1.06	(0.95)	1.52	(1.16)	9.44
FCCO	1.24	0.13	0.09	0.25	1.04	(1.43)	3.05	(2.20)	10.76

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