FB Financial Correlations

FBK Stock

USD 47.22 0.24 0.51%

The current 90-days correlation between FB Financial Corp and First Mid Illinois is 0.85 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as FB Financial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FB Financial Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

FB Financial Correlation With Market

Very weak diversification

The correlation between FB Financial Corp and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FB Financial Corp 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 FB 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 bureau of labor statistics.

Moving together with FBK Stock

0.94	AX	Axos Financial	Pair Corr
0.91	BY	Byline Bancorp	Pair Corr
0.73	KB	KB Financial Group	Pair Corr
0.91	PB	Prosperity Bancshares	Pair Corr
0.96	RF	Regions Financial	Pair Corr
0.92	VBNK	VersaBank	Pair Corr
0.9	VBTX	Veritex Holdings	Pair Corr
0.93	EGBN	Eagle Bancorp	Pair Corr
0.65	WAFD	Washington Federal	Pair Corr
0.8	WASH	Washington Trust Bancorp	Pair Corr
0.94	EQBK	Equity Bancshares,	Pair Corr
0.66	WAFDP	Washington Federal	Pair Corr
0.73	TFINP	Triumph Financial	Pair Corr
0.94	EVBN	Evans Bancorp	Pair Corr
0.92	WMPN	William Penn Bancorp	Pair Corr

Moving against FBK Stock

0.81	VBFC	Village Bank	Pair Corr
0.7	DB	Deutsche Bank AG	Pair Corr
0.57	TECTP	Tectonic Financial	Pair Corr
0.44	EBMT	Eagle Bancorp Montana	Pair Corr
0.38	KEY-PI	KeyCorp	Pair Corr
0.37	WSBCP	WesBanco	Pair Corr
0.31	BANC-PF	Banc of California	Pair Corr

Related Correlations Analysis

	HBCP	FBIZ	LNKB	OFED	GSBC	FMBH	FINW	LBC	EFSC	FNWD
HBCP		0.8	0.37	0.0	0.49	0.79	0.65	0.0	0.85	-0.34	HBCP
FBIZ	0.8		0.21	0.0	0.1	0.6	0.91	0.0	0.84	-0.49	FBIZ
LNKB	0.37	0.21		0.0	0.71	0.66	0.27	0.0	0.38	0.16	LNKB
OFED	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	OFED
GSBC	0.49	0.1	0.71	0.0		0.77	0.17	0.0	0.4	0.34	GSBC
FMBH	0.79	0.6	0.66	0.0	0.77		0.59	0.0	0.73	-0.01	FMBH
FINW	0.65	0.91	0.27	0.0	0.17	0.59		0.0	0.77	-0.29	FINW
LBC	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	LBC
EFSC	0.85	0.84	0.38	0.0	0.4	0.73	0.77	0.0		-0.41	EFSC
FNWD	-0.34	-0.49	0.16	0.0	0.34	-0.01	-0.29	0.0	-0.41		FNWD
	HBCP	FBIZ	LNKB	OFED	GSBC	FMBH	FINW	LBC	EFSC	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

FINW	+ 0.91	FBIZ
EFSC	+ 0.85	HBCP
EFSC	+ 0.84	FBIZ
FBIZ	+ 0.8	HBCP
FMBH	+ 0.79	HBCP
FMBH	+ 0.77	GSBC

High negative correlations

FNWD	- 0.49	FBIZ
FNWD	- 0.41	EFSC
FNWD	- 0.34	HBCP
FNWD	- 0.29	FINW
FNWD	- 0.01	FMBH
FNWD	- 0.0	LBC

Risk-Adjusted Indicators

There is a big difference between FBK Stock performing well and FB 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 FB 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
HBCP	1.31	(0.02)	(0.09)	2.82	(3.06)	8.36
FBIZ	1.49	0.05	(0.02)	2.86	(3.19)	8.96
LNKB	1.44	(0.10)	(0.18)	3.17	(2.96)	8.31
OFED	0.00	0.00	0.00	0.00	0.00	0.00
GSBC	1.24	(0.14)	(0.24)	2.27	(3.02)	7.73
FMBH	1.13	(0.16)	(0.25)	2.39	(2.73)	6.93
FINW	2.18	(0.02)	(0.12)	5.00	(4.13)	15.63
LBC	0.00	0.00	0.00	0.00	0.00	0.00
EFSC	1.26	(0.08)	0.42	3.01	(2.82)	7.94
FNWD	1.06	(0.08)	(0.45)	2.12	(1.97)	8.51

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