CIT Group Correlations
| FCNCO Preferred Stock | USD 23.06 0.02 0.09% |
The current 90-days correlation between CIT Group Preferred and Capital One Financial is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CIT Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CIT Group Preferred moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
CIT Group Correlation With Market
Significant diversification
The correlation between CIT Group Preferred and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CIT Group Preferred and DJI in the same portfolio, assuming nothing else is changed.
CIT |
The ability to find closely correlated positions to CIT Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CIT Group when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back CIT Group - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling CIT Group Preferred to buy it.
Moving together with CIT Preferred Stock
| 0.62 | TFC-PO | Truist Financial | PairCorr |
| 0.7 | TFC-PR | Truist Financial | PairCorr |
| 0.76 | CFG-PE | Citizens Financial | PairCorr |
| 0.88 | WAFDP | Washington Federal | PairCorr |
Moving against CIT Preferred Stock
| 0.48 | BY | Byline Bancorp Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.46 | AX | Axos Financial | PairCorr |
| 0.45 | PB | Prosperity Bancshares Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.45 | WABC | Westamerica Bancorporation Fiscal Year End 16th of January 2025 | PairCorr |
| 0.41 | EFSC | Enterprise Financial Fiscal Year End 27th of January 2025 | PairCorr |
| 0.35 | RF | Regions Financial Fiscal Year End 17th of January 2025 | PairCorr |
| 0.31 | VBNK | VersaBank Earnings Call This Week | PairCorr |
| 0.6 | FRCLL | First Republic Bank | PairCorr |
| 0.58 | WCFB | WCF Bancorp | PairCorr |
| 0.57 | FRCCL | First Republic Bank | PairCorr |
| 0.57 | FRCHL | First Republic Bank | PairCorr |
| 0.57 | FRCKL | First Republic Bank | PairCorr |
| 0.57 | FRCML | First Republic Bank | PairCorr |
| 0.52 | WSBC | WesBanco Fiscal Year End 28th of January 2025 | PairCorr |
| 0.52 | WSFS | WSFS Financial Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.5 | WNEB | Western New England Fiscal Year End 28th of January 2025 | PairCorr |
| 0.46 | FRCIL | First Republic Bank | PairCorr |
| 0.42 | WTBA | West Bancorporation Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.38 | WAFD | Washington Federal | PairCorr |
| 0.34 | BANC-PF | Banc of California | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between CIT Preferred Stock performing well and CIT Group 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 CIT Group'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| COF-PI | 0.73 | (0.06) | 0.00 | (0.17) | 0.00 | 1.67 | 4.73 | |||
| BAC-PN | 0.60 | (0.07) | 0.00 | (0.29) | 0.00 | 1.14 | 3.51 | |||
| 444859BR2 | 1.38 | (0.09) | 0.00 | (0.14) | 0.00 | 5.93 | 16.62 | |||
| AQUI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BRRAY | 1.27 | (0.11) | 0.00 | 0.01 | 0.00 | 0.00 | 34.02 | |||
| MSTSX | 0.49 | 0.05 | (0.08) | (1.05) | 0.50 | 1.21 | 2.80 | |||
| ABHYX | 0.18 | 0.01 | (0.17) | 0.39 | 0.25 | 0.34 | 1.91 | |||
| LBHIX | 0.12 | 0.02 | (0.34) | 1.50 | 0.00 | 0.24 | 0.96 | |||
| SCAXF | 0.70 | (0.40) | 0.00 | (1.01) | 0.00 | 0.00 | 23.47 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in CIT Group without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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CIT Group Corporate Management
| Matthew Martin | Chief Sec | Profile | |
| Frank Holding | Chairman CEO | Profile | |
| Jeffery Ward | Chief Officer | Profile | |
| Hope Bryant | Vice Exec | Profile | |
| Lorie Rupp | Chief Officer | Profile | |
| Deanna Hart | VP Relations | Profile | |
| West Ludwig | Ex Officer | Profile |