Cathay General Correlations

CATY Stock

USD 44.25 0.97 2.24%

The current 90-days correlation between Cathay General Bancorp and Glacier Bancorp is 0.16 (i.e., Average diversification). The correlation of Cathay General 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.

Cathay General Correlation With Market

Very weak diversification

The correlation between Cathay General Bancorp and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cathay General 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 Cathay General 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 estimate.

Moving together with Cathay Stock

0.9	AX	Axos Financial	Pair Corr
0.78	BY	Byline Bancorp	Pair Corr
0.65	KB	KB Financial Group	Pair Corr
0.76	PB	Prosperity Bancshares	Pair Corr
0.88	RF	Regions Financial	Pair Corr
0.87	VBNK	VersaBank	Pair Corr
0.88	VBTX	Veritex Holdings	Pair Corr
0.65	EFSI	Eagle Financial Services	Pair Corr
0.87	EGBN	Eagle Bancorp	Pair Corr
0.79	WAFD	Washington Federal	Pair Corr
0.81	EQBK	Equity Bancshares,	Pair Corr
0.79	WAFDP	Washington Federal	Pair Corr
0.89	EVBN	Evans Bancorp	Pair Corr
0.8	WMPN	William Penn Bancorp	Pair Corr

Moving against Cathay Stock

0.79	VBFC	Village Bank	Pair Corr
0.77	DB	Deutsche Bank AG	Pair Corr
0.7	TECTP	Tectonic Financial	Pair Corr
0.46	EBMT	Eagle Bancorp Montana	Pair Corr
0.32	WF	Woori Financial Group	Pair Corr
0.31	TFC-PO	Truist Financial	Pair Corr
0.58	WSBCP	WesBanco	Pair Corr
0.49	KEY-PI	KeyCorp	Pair Corr
0.47	BANC-PF	Banc of California	Pair Corr
0.44	KEY-PL	KeyCorp	Pair Corr

Related Correlations Analysis

	GBCI	CFFN	BY	FFIN	CWBC	HFWA	HMNF	FFNW	BSRR
GBCI		0.43	0.82	0.58	0.74	0.5	0.0	-0.05	0.4	GBCI
CFFN	0.43		0.72	0.69	0.74	0.58	0.0	0.27	0.7	CFFN
BY	0.82	0.72		0.8	0.86	0.74	0.0	0.11	0.76	BY
FFIN	0.58	0.69	0.8		0.79	0.91	0.0	0.19	0.82	FFIN
CWBC	0.74	0.74	0.86	0.79		0.73	0.0	0.17	0.58	CWBC
HFWA	0.5	0.58	0.74	0.91	0.73		0.0	0.14	0.8	HFWA
HMNF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	HMNF
FFNW	-0.05	0.27	0.11	0.19	0.17	0.14	0.0		0.22	FFNW
BSRR	0.4	0.7	0.76	0.82	0.58	0.8	0.0	0.22		BSRR
	GBCI	CFFN	BY	FFIN	CWBC	HFWA	HMNF	FFNW	BSRR

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

HFWA	+ 0.91	FFIN
CWBC	+ 0.86	BY
BY	+ 0.82	GBCI
BSRR	+ 0.82	FFIN
FFIN	+ 0.8	BY
BSRR	+ 0.8	HFWA

High negative correlations

FFNW	- 0.05	GBCI
BSRR	- 0.0	HMNF
FFNW	- 0.0	HMNF
HMNF	- 0.0	HFWA
HMNF	- 0.0	CWBC
HMNF	- 0.0	FFIN

Risk-Adjusted Indicators

There is a big difference between Cathay Stock performing well and Cathay General 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 Cathay General'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
GBCI	1.29	(0.32)	0.00	9.32	0.00	0.00	2.03	(3.05)	9.37
CFFN	1.06	(0.16)	0.00	(0.26)	0.00	0.00	2.39	(3.04)	5.80
BY	1.14	(0.18)	0.00	(0.22)	0.00	0.00	2.17	(2.09)	5.90
FFIN	1.28	(0.11)	0.00	(0.15)	0.00	0.00	3.11	(2.32)	6.45
CWBC	1.03	(0.16)	0.00	(0.22)	0.00	0.00	2.45	(2.17)	6.01
HFWA	1.21	(0.08)	0.00	(0.13)	0.00	0.00	2.33	(3.27)	8.15
HMNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FFNW	0.98	0.05	0.08	(11.71)	1.01	(1.14)	1.17	(1.77)	16.29
BSRR	1.50	(0.02)	0.00	(0.05)	0.00	0.00	2.92	(3.08)	11.56

Cathay General Corporate Management

May Chan	General VP	Profile
Thomas Lo	Executive Officer	Profile
Georgia Lo	Assistant Relations	Profile
Weston Barkwill	Chief Auditor	Profile

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