ConnectOne Bancorp Correlations

CNOB Stock

USD 24.86 0.30 1.19%

The current 90-days correlation between ConnectOne Bancorp and Great Southern Bancorp is 0.66 (i.e., Poor diversification). The correlation of ConnectOne 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.

ConnectOne Bancorp Correlation With Market

Very weak diversification

The correlation between ConnectOne Bancorp and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ConnectOne 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 ConnectOne 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 persons.

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

Moving together with ConnectOne Stock

0.64	AX	Axos Financial	Pair Corr
0.85	BY	Byline Bancorp	Pair Corr
0.79	NU	Nu Holdings	Pair Corr
0.79	PB	Prosperity Bancshares	Pair Corr
0.71	RF	Regions Financial	Pair Corr
0.76	WF	Woori Financial Group	Pair Corr
0.61	VABK	Virginia National	Pair Corr
0.67	VBNK	VersaBank Earnings Call This Week	Pair Corr
0.63	VBTX	Veritex Holdings	Pair Corr
0.8	TFC-PI	Truist Financial	Pair Corr
0.72	TFC-PO	Truist Financial	Pair Corr
0.69	EBMT	Eagle Bancorp Montana	Pair Corr
0.68	CFG-PE	Citizens Financial	Pair Corr
0.88	EFSC	Enterprise Financial	Pair Corr
0.63	EGBN	Eagle Bancorp	Pair Corr
0.79	KEY-PJ	KeyCorp	Pair Corr
0.76	KEY-PK	KeyCorp	Pair Corr
0.83	WASH	Washington Trust Bancorp	Pair Corr
0.82	EQBK	Equity Bancshares,	Pair Corr
0.85	WMPN	William Penn Bancorp	Pair Corr
0.68	WNEB	Western New England	Pair Corr

Moving against ConnectOne Stock

0.51	VBFC	Village Bank	Pair Corr
0.84	EFSI	Eagle Financial Services	Pair Corr

Related Correlations Analysis

	RBKB	HBCP	PKBK	GSBC	NBHC	CWBC	FISI	KRNY	HFWA	FNWB
RBKB		0.57	-0.25	-0.31	-0.22	-0.18	0.45	-0.24	0.18	0.57	RBKB
HBCP	0.57		0.46	0.46	0.47	0.57	0.4	0.48	0.8	0.71	HBCP
PKBK	-0.25	0.46		0.85	0.95	0.97	-0.16	0.92	0.81	0.35	PKBK
GSBC	-0.31	0.46	0.85		0.87	0.9	0.05	0.92	0.77	0.3	GSBC
NBHC	-0.22	0.47	0.95	0.87		0.93	-0.15	0.93	0.83	0.43	NBHC
CWBC	-0.18	0.57	0.97	0.9	0.93		-0.06	0.92	0.87	0.4	CWBC
FISI	0.45	0.4	-0.16	0.05	-0.15	-0.06		-0.01	0.08	0.39	FISI
KRNY	-0.24	0.48	0.92	0.92	0.93	0.92	-0.01		0.78	0.4	KRNY
HFWA	0.18	0.8	0.81	0.77	0.83	0.87	0.08	0.78		0.56	HFWA
FNWB	0.57	0.71	0.35	0.3	0.43	0.4	0.39	0.4	0.56		FNWB
	RBKB	HBCP	PKBK	GSBC	NBHC	CWBC	FISI	KRNY	HFWA	FNWB

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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

CWBC	+ 0.97	PKBK
NBHC	+ 0.95	PKBK
CWBC	+ 0.93	NBHC
KRNY	+ 0.93	NBHC
KRNY	+ 0.92	PKBK
KRNY	+ 0.92	GSBC

High negative correlations

GSBC	- 0.31	RBKB
PKBK	- 0.25	RBKB
KRNY	- 0.24	RBKB
NBHC	- 0.22	RBKB
CWBC	- 0.18	RBKB
FISI	- 0.16	PKBK

Risk-Adjusted Indicators

There is a big difference between ConnectOne Stock performing well and ConnectOne 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 ConnectOne 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
RBKB	0.52	0.04	0.06	0.16	0.63	(0.57)	1.05	(1.35)	3.24
HBCP	1.35	(0.02)	0.00	(0.02)	0.00	0.00	2.82	(2.42)	8.81
PKBK	1.11	(0.20)	0.00	(0.34)	0.00	0.00	1.93	(2.62)	6.47
GSBC	1.23	(0.06)	0.00	(0.08)	0.00	0.00	2.59	(2.97)	7.73
NBHC	1.04	(0.17)	0.00	(0.23)	0.00	0.00	1.80	(2.85)	7.65
CWBC	0.99	(0.13)	0.00	(0.15)	0.00	0.00	2.45	(2.17)	6.94
FISI	1.31	0.11	0.06	0.12	1.53	(1.38)	3.41	(2.25)	11.28
KRNY	1.61	(0.23)	0.00	(0.29)	0.00	0.00	3.01	(3.23)	9.42
HFWA	1.14	(0.04)	0.00	(0.05)	0.00	0.00	2.72	(3.05)	9.15
FNWB	1.33	0.05	0.03	0.06	1.47	(1.69)	3.00	(2.76)	9.99

ConnectOne Bancorp Corporate Management

Joseph Javitz	First Officer	Profile
Dana Zeller	Chief Officer	Profile
Mark Zurlini	Executive Officer	Profile
Siya Vansia	Senior Officer	Profile
Michael OMalley	Executive Officer	Profile

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