Chemung Financial Correlations

Stocks . USA . 
Stock . Chemung Financial Corp
CHMG Stock  USD 52.33  0.50  0.96%   
The current 90-days correlation between Chemung Financial Corp and Affinity Bancshares is -0.22 (i.e., Very good diversification). The correlation of Chemung Financial 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.

Chemung Financial Correlation With Market

Poor diversification

The correlation between Chemung Financial Corp and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chemung Financial Corp 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 Chemung Financial Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Chemung Stock

  0.92AX Axos FinancialPairCorr
  0.92BY Byline Bancorp Fiscal Year End 23rd of January 2025 PairCorr
  0.94PB Prosperity Bancshares Fiscal Year End 22nd of January 2025 PairCorr
  0.94RF Regions Financial Fiscal Year End 17th of January 2025 PairCorr
  0.72VABK Virginia NationalPairCorr
  0.87VBNK VersaBank Normal TradingPairCorr
  0.93VBTX Veritex Holdings Fiscal Year End 28th of January 2025 PairCorr
  0.75TECTP Tectonic FinancialPairCorr
  0.79EBMT Eagle Bancorp Montana Normal TradingPairCorr
  0.97EBTC Enterprise BancorpPairCorr
  0.62ECBK ECB BancorpPairCorr
  0.94EFSC Enterprise Financial Fiscal Year End 27th of January 2025 PairCorr
  0.87EGBN Eagle Bancorp Fiscal Year End 22nd of January 2025 PairCorr
  0.66KEY-PJ KeyCorpPairCorr
  0.68KEY-PK KeyCorpPairCorr
  0.65KEY-PL KeyCorpPairCorr
  0.9WABC Westamerica Bancorporation Fiscal Year End 16th of January 2025 PairCorr
  0.65WAFD Washington FederalPairCorr
  0.87WASH Washington Trust Bancorp Fiscal Year End 22nd of January 2025 PairCorr
  0.77BANC-PF Banc of CaliforniaPairCorr
  0.93EQBK Equity Bancshares, Fiscal Year End 22nd of January 2025 PairCorr
  0.84ESSA ESSA BancorpPairCorr
  0.89EVBN Evans BancorpPairCorr
  0.77WSBCP WesBancoPairCorr

Moving against Chemung Stock

  0.48TFC-PO Truist FinancialPairCorr
  0.48CFG-PE Citizens FinancialPairCorr
  0.43TFC-PR Truist FinancialPairCorr
  0.48FRCIL First Republic BankPairCorr
  0.4FRCCL First Republic BankPairCorr
  0.4FRCHL First Republic BankPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Chemung Stock performing well and Chemung Financial 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 Chemung Financial'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.

Chemung Financial Corporate Management

Kathleen McKillipVP SecretaryProfile
Loren ColeExecutive OfficerProfile
CFA CFAEx CompanyProfile
Norman WardChief SVPProfile
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