ChoiceOne Financial Correlations

COFS Stock

USD 29.28 0.10 0.34%

The current 90-days correlation between ChoiceOne Financial and First Northwest Bancorp is 0.2 (i.e., Modest diversification). The correlation of ChoiceOne 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ChoiceOne Financial Correlation With Market

Very weak diversification

The correlation between ChoiceOne Financial Services and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ChoiceOne Financial Services 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 ChoiceOne Financial Services. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with ChoiceOne Stock

0.89	AX	Axos Financial	Pair Corr
0.71	BY	Byline Bancorp	Pair Corr
0.7	KB	KB Financial Group	Pair Corr
0.66	PB	Prosperity Bancshares	Pair Corr
0.8	RF	Regions Financial	Pair Corr
0.88	VBNK	VersaBank	Pair Corr
0.84	VBTX	Veritex Holdings	Pair Corr
0.79	EFSI	Eagle Financial Services	Pair Corr
0.89	EGBN	Eagle Bancorp	Pair Corr
0.81	WAFD	Washington Federal	Pair Corr
0.67	EQBK	Equity Bancshares,	Pair Corr
0.81	WAFDP	Washington Federal	Pair Corr
0.84	EVBN	Evans Bancorp	Pair Corr
0.72	WMPN	William Penn Bancorp	Pair Corr

Moving against ChoiceOne Stock

0.92	DB	Deutsche Bank AG	Pair Corr
0.85	VBFC	Village Bank	Pair Corr
0.83	TECTP	Tectonic Financial	Pair Corr
0.7	EBMT	Eagle Bancorp Montana	Pair Corr
0.52	WF	Woori Financial Group	Pair Corr
0.48	TFC-PO	Truist Financial	Pair Corr
0.37	TFC-PR	Truist Financial	Pair Corr
0.37	ECBK	ECB Bancorp	Pair Corr
0.32	CFG-PE	Citizens Financial	Pair Corr
0.75	WSBCP	WesBanco	Pair Corr
0.67	KEY-PL	KeyCorp	Pair Corr
0.65	KEY-PI	KeyCorp	Pair Corr
0.65	BANC-PF	Banc of California	Pair Corr
0.54	KEY-PJ	KeyCorp	Pair Corr
0.51	KEY-PK	KeyCorp	Pair Corr
0.41	CFG-PH	Citizens Financial Group,	Pair Corr

Related Correlations Analysis

	OFED	CULL	HMNF	HFBL	FNWB	HVBC	LSBK	AFBI	OVLY	JMSB
OFED		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	OFED
CULL	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CULL
HMNF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	HMNF
HFBL	0.0	0.0	0.0		0.27	0.0	0.55	-0.3	-0.22	-0.43	HFBL
FNWB	0.0	0.0	0.0	0.27		0.0	0.36	-0.31	0.16	0.08	FNWB
HVBC	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	HVBC
LSBK	0.0	0.0	0.0	0.55	0.36	0.0		-0.01	-0.38	-0.63	LSBK
AFBI	0.0	0.0	0.0	-0.3	-0.31	0.0	-0.01		0.22	0.18	AFBI
OVLY	0.0	0.0	0.0	-0.22	0.16	0.0	-0.38	0.22		0.75	OVLY
JMSB	0.0	0.0	0.0	-0.43	0.08	0.0	-0.63	0.18	0.75		JMSB
	OFED	CULL	HMNF	HFBL	FNWB	HVBC	LSBK	AFBI	OVLY	JMSB

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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

JMSB	+ 0.75	OVLY
LSBK	+ 0.55	HFBL
LSBK	+ 0.36	FNWB
FNWB	+ 0.27	HFBL
OVLY	+ 0.22	AFBI
JMSB	+ 0.18	AFBI

High negative correlations

JMSB	- 0.63	LSBK
JMSB	- 0.43	HFBL
OVLY	- 0.38	LSBK
AFBI	- 0.31	FNWB
AFBI	- 0.3	HFBL
OVLY	- 0.22	HFBL

Risk-Adjusted Indicators

There is a big difference between ChoiceOne Stock performing well and ChoiceOne 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 ChoiceOne 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
OFED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CULL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HMNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HFBL	1.63	0.12	0.04	0.41	2.10	(2.12)	5.67	(4.53)	13.32
FNWB	1.18	(0.01)	0.00	(0.02)	1.46	(1.39)	2.68	(2.76)	9.99
HVBC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LSBK	1.68	0.30	0.13	0.54	1.67	(2.28)	3.62	(3.16)	21.68
AFBI	1.19	(0.14)	0.00	(0.43)	0.00	0.00	2.53	(2.02)	22.46
OVLY	1.40	(0.09)	0.00	(0.12)	0.00	0.00	2.97	(2.90)	11.49
JMSB	1.84	(0.27)	0.00	(0.20)	0.00	0.00	3.56	(3.74)	9.66

ChoiceOne Financial Corporate Management

Lee Braford	Chief Credit Officer and Sr. VP	Profile
Daniel Wheat	Mortgage Originator	Profile
Kelly CFP	CEO Director	Profile
Shelly Childers	Senior Officer	Profile
Heather Brolick	Senior Bank	Profile

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