ESSA Bancorp Correlations

ESSA Stock

USD 19.25 0.24 1.23%

The current 90-days correlation between ESSA Bancorp and Community West Bancshares is 0.55 (i.e., Very weak diversification). The correlation of ESSA 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.

ESSA Bancorp Correlation With Market

Weak diversification

The correlation between ESSA Bancorp and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ESSA Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ESSA 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 state.

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

Moving together with ESSA Stock

0.78	NU	Nu Holdings Aggressive Push	Pair Corr
0.68	PB	Prosperity Bancshares	Pair Corr
0.66	TFC-PI	Truist Financial	Pair Corr
0.68	TFC-PO	Truist Financial	Pair Corr
0.66	TFC-PR	Truist Financial	Pair Corr
0.91	EBTC	Enterprise Bancorp	Pair Corr
0.62	CFG-PE	Citizens Financial	Pair Corr
0.65	CFG-PH	Citizens Financial Group,	Pair Corr
0.88	EFSC	Enterprise Financial	Pair Corr
0.62	WASH	Washington Trust Bancorp	Pair Corr
0.66	WMPN	William Penn Bancorp	Pair Corr

Moving against ESSA Stock

0.37

ECBK

ECB Bancorp

Pair Corr

Related Correlations Analysis

	CWBC	HMNF	FNWB	OFED	CULL	FCCO	OVLY	FFNW	FSBW	FNWD
CWBC		0.0	0.2	0.0	0.0	0.56	0.74	0.41	0.86	0.42	CWBC
HMNF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	HMNF
FNWB	0.2	0.0		0.0	0.0	0.72	0.1	0.1	0.04	-0.51	FNWB
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
FCCO	0.56	0.0	0.72	0.0	0.0		0.42	0.2	0.35	-0.36	FCCO
OVLY	0.74	0.0	0.1	0.0	0.0	0.42		0.29	0.75	0.34	OVLY
FFNW	0.41	0.0	0.1	0.0	0.0	0.2	0.29		0.34	0.38	FFNW
FSBW	0.86	0.0	0.04	0.0	0.0	0.35	0.75	0.34		0.41	FSBW
FNWD	0.42	0.0	-0.51	0.0	0.0	-0.36	0.34	0.38	0.41		FNWD
	CWBC	HMNF	FNWB	OFED	CULL	FCCO	OVLY	FFNW	FSBW	FNWD

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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

FSBW	+ 0.86	CWBC
FSBW	+ 0.75	OVLY
OVLY	+ 0.74	CWBC
FCCO	+ 0.72	FNWB
FCCO	+ 0.56	CWBC
FNWD	+ 0.42	CWBC

High negative correlations

FNWD	- 0.51	FNWB
FNWD	- 0.36	FCCO
FNWD	- 0.0	CULL
FSBW	- 0.0	CULL
FFNW	- 0.0	CULL
OVLY	- 0.0	CULL

Risk-Adjusted Indicators

There is a big difference between ESSA Stock performing well and ESSA 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 ESSA 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
CWBC	0.98	(0.19)	0.00	(0.32)	0.00	0.00	2.28	(2.17)	6.01
HMNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FNWB	1.17	0.03	0.00	(0.03)	0.00	0.00	2.68	(2.76)	9.99
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
FCCO	1.32	(0.19)	0.00	21.58	0.00	0.00	3.41	(3.73)	10.26
OVLY	1.51	(0.29)	0.00	(0.50)	0.00	0.00	2.38	(3.77)	11.49
FFNW	1.00	0.03	0.09	(5.03)	1.06	(1.18)	1.17	(1.77)	16.29
FSBW	1.61	(0.20)	0.00	(0.27)	0.00	0.00	2.62	(4.04)	9.31
FNWD	1.04	(0.06)	0.00	(0.33)	0.00	0.00	2.12	(1.97)	8.51

ESSA Bancorp Corporate Management

Thomas Grayuski	VP of Human Resource Services Division and VP of Human Resource Services Division - Essa Bank and Trust	Profile
Stephanie Lefferson	Corporate Relations	Profile
James Fareri	General Counsel	Profile
Robert Selitto	Senior Controller	Profile

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