Cadence Bancorp Correlations

CADE Stock

USD 30.32 0.19 0.63%

The current 90-days correlation between Cadence Bancorp and Ameris Bancorp is 0.85 (i.e., Very poor diversification). The correlation of Cadence 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.

Cadence Bancorp Correlation With Market

Good diversification

The correlation between Cadence 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 Cadence 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 Cadence 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 unemployment.

For information on how to trade Cadence Stock refer to our How to Trade Cadence Stock guide.

Moving together with Cadence Stock

0.88	AX	Axos Financial	Pair Corr
0.81	BY	Byline Bancorp	Pair Corr
0.74	KB	KB Financial Group	Pair Corr
0.83	PB	Prosperity Bancshares	Pair Corr
0.93	RF	Regions Financial	Pair Corr
0.93	VBNK	VersaBank	Pair Corr
0.79	VBTX	Veritex Holdings	Pair Corr
0.64	EFSI	Eagle Financial Services	Pair Corr
0.88	EGBN	Eagle Bancorp	Pair Corr
0.64	WAFD	Washington Federal	Pair Corr
0.64	WASH	Washington Trust Bancorp	Pair Corr
0.83	EQBK	Equity Bancshares,	Pair Corr
0.64	WAFDP	Washington Federal	Pair Corr
0.71	TFINP	Triumph Financial	Pair Corr
0.86	EVBN	Evans Bancorp	Pair Corr
0.86	WMPN	William Penn Bancorp	Pair Corr

Moving against Cadence Stock

0.8	DB	Deutsche Bank AG	Pair Corr
0.76	VBFC	Village Bank	Pair Corr
0.67	TECTP	Tectonic Financial	Pair Corr
0.55	EBMT	Eagle Bancorp Montana	Pair Corr
0.39	ECBK	ECB Bancorp	Pair Corr
0.47	WSBCP	WesBanco	Pair Corr
0.45	KEY-PI	KeyCorp	Pair Corr
0.45	BANC-PF	Banc of California	Pair Corr
0.36	KEY-PL	KeyCorp	Pair Corr

Related Correlations Analysis

	NBTB	FISI	BHLB	FDBC	CATC	FBMS	TRMK	ABCB	HONE
NBTB		0.67	0.85	0.74	0.0	0.5	0.64	0.8	0.86	NBTB
FISI	0.67		0.75	0.4	0.0	0.65	0.8	0.75	0.58	FISI
BHLB	0.85	0.75		0.5	0.0	0.73	0.89	0.97	0.83	BHLB
FDBC	0.74	0.4	0.5		0.0	0.09	0.38	0.37	0.63	FDBC
CATC	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CATC
FBMS	0.5	0.65	0.73	0.09	0.0		0.8	0.78	0.41	FBMS
TRMK	0.64	0.8	0.89	0.38	0.0	0.8		0.9	0.63	TRMK
ABCB	0.8	0.75	0.97	0.37	0.0	0.78	0.9		0.81	ABCB
HONE	0.86	0.58	0.83	0.63	0.0	0.41	0.63	0.81		HONE
	NBTB	FISI	BHLB	FDBC	CATC	FBMS	TRMK	ABCB	HONE

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

ABCB	+ 0.97	BHLB
ABCB	+ 0.9	TRMK
TRMK	+ 0.89	BHLB
HONE	+ 0.86	NBTB
BHLB	+ 0.85	NBTB
HONE	+ 0.83	BHLB

High negative correlations

HONE	- 0.0	CATC
ABCB	- 0.0	CATC
TRMK	- 0.0	CATC
FBMS	- 0.0	CATC
CATC	- 0.0	FDBC
CATC	- 0.0	BHLB

Risk-Adjusted Indicators

There is a big difference between Cadence Stock performing well and Cadence 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 Cadence 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
NBTB	1.21	(0.19)	(0.27)	1.76	(2.81)	8.13
FISI	1.22	(0.07)	(0.15)	1.93	(2.73)	7.14
BHLB	1.12	(0.22)	3.63	2.06	(2.49)	7.39
FDBC	1.97	(0.20)	(0.27)	3.27	(3.80)	12.12
CATC	0.00	0.00	0.00	0.00	0.00	0.00
FBMS	1.34	0.04	(0.04)	2.88	(3.15)	8.28
TRMK	1.33	(0.16)	0.85	2.37	(3.40)	8.32
ABCB	1.26	(0.23)	4.46	2.43	(2.89)	9.73
HONE	1.55	(0.25)	(11.81)	3.26	(3.53)	14.65

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC