Comerica Correlations

CMA Stock

USD 72.32 0.32 0.44%

The current 90-days correlation between Comerica and Western Alliance Bancorporation is 0.71 (i.e., Poor diversification). The correlation of Comerica 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.

Comerica Correlation With Market

Poor diversification

The correlation between Comerica and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Comerica 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 Comerica. 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.

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

Moving together with Comerica Stock

0.85	AX	Axos Financial	Pair Corr
0.83	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.89	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.95	RF	Regions Financial Sell-off Trend	Pair Corr
0.72	VABK	Virginia National	Pair Corr
0.94	VBNK	VersaBank Fiscal Year End 11th of December 2024	Pair Corr
0.98	VBTX	Veritex Holdings Normal Trading	Pair Corr
0.83	TECTP	Tectonic Financial	Pair Corr
0.92	EBMT	Eagle Bancorp Montana Normal Trading	Pair Corr
0.96	EBTC	Enterprise Bancorp	Pair Corr
0.79	ECBK	ECB Bancorp	Pair Corr
0.67	CFG-PH	Citizens Financial Group,	Pair Corr
0.9	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.96	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.74	KEY-PJ	KeyCorp	Pair Corr
0.79	KEY-PK	KeyCorp	Pair Corr
0.79	KEY-PL	KeyCorp	Pair Corr
0.87	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.93	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.65	BANC-PF	Banc of California	Pair Corr
0.96	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.89	ESSA	ESSA Bancorp	Pair Corr
0.94	EVBN	Evans Bancorp	Pair Corr
0.88	WSBCP	WesBanco	Pair Corr
0.93	WMPN	William Penn Bancorp	Pair Corr

Moving against Comerica Stock

0.5	TFC-PO	Truist Financial	Pair Corr
0.44	WF	Woori Financial Group	Pair Corr
0.43	TFC-PR	Truist Financial	Pair Corr
0.43	CFG-PE	Citizens Financial	Pair Corr
0.52	FRCCL	First Republic Bank	Pair Corr
0.52	FRCHL	First Republic Bank	Pair Corr
0.35	WBBW	Westbury Bancorp	Pair Corr

Related Correlations Analysis

	WAL	KEY	PACW	TFC	ZION	HBAN	USB	FHN	RF	PNC
WAL		0.86	0.11	0.75	0.78	0.83	0.78	0.78	0.84	0.85	WAL
KEY	0.86		0.34	0.94	0.98	0.98	0.93	0.97	0.98	0.98	KEY
PACW	0.11	0.34		0.53	0.39	0.33	0.42	0.39	0.35	0.3	PACW
TFC	0.75	0.94	0.53		0.94	0.93	0.88	0.94	0.94	0.93	TFC
ZION	0.78	0.98	0.39	0.94		0.99	0.95	0.99	0.98	0.98	ZION
HBAN	0.83	0.98	0.33	0.93	0.99		0.95	0.99	0.99	0.99	HBAN
USB	0.78	0.93	0.42	0.88	0.95	0.95		0.96	0.95	0.94	USB
FHN	0.78	0.97	0.39	0.94	0.99	0.99	0.96		0.98	0.98	FHN
RF	0.84	0.98	0.35	0.94	0.98	0.99	0.95	0.98		0.99	RF
PNC	0.85	0.98	0.3	0.93	0.98	0.99	0.94	0.98	0.99		PNC
	WAL	KEY	PACW	TFC	ZION	HBAN	USB	FHN	RF	PNC

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Risk-Adjusted Indicators

There is a big difference between Comerica Stock performing well and Comerica 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 Comerica'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
WAL	1.88	(0.04)	0.06	0.10	2.14	(2.32)	3.91	(3.17)	19.53
KEY	1.40	(0.03)	0.09	0.11	1.38	(1.58)	2.99	(2.54)	19.76
PACW	7.45	0.70	0.06	0.70	11.32	(8.27)	17.58	(14.58)	104.70
TFC	1.18	(0.07)	0.01	0.08	1.20	(1.36)	2.26	(2.46)	12.77
ZION	1.64	0.06	0.14	0.14	1.48	(1.89)	3.51	(2.89)	20.65
HBAN	1.25	0.11	0.20	0.18	0.86	(1.63)	2.75	(2.28)	14.20
USB	1.34	0.06	0.11	0.15	1.17	(1.61)	2.86	(2.31)	10.98
FHN	1.63	0.12	0.19	0.17	1.27	(1.94)	3.77	(2.49)	18.94
RF	1.15	0.08	0.14	0.16	0.93	(1.47)	2.38	(1.66)	14.81
PNC	1.14	0.11	0.16	0.19	0.89	(1.44)	2.54	(1.97)	9.52

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