First Capital Correlations

FCPB Stock  USD 10.14  0.02  0.20%   
The correlation of First Capital 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.

First Capital Correlation With Market

Significant diversification

The correlation between First Capital Bancshares and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Capital Bancshares and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to First Capital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Capital 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 First Capital - 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 First Capital Bancshares to buy it.

Moving against First Pink Sheet

  0.65BBAS3 Banco do BrasilPairCorr
  0.59BNPQY BNP Paribas SAPairCorr
  0.59BNPQF BNP Paribas SAPairCorr
  0.57CIHKY China Merchants Bank Earnings Call TodayPairCorr
  0.55USB-PH US BancorpPairCorr
  0.53BBDC4 Banco Bradesco SAPairCorr
  0.67IBM International BusinessPairCorr
  0.66T ATT Inc Earnings Call TodayPairCorr
  0.64VZ Verizon CommunicationsPairCorr
  0.62JNJ Johnson JohnsonPairCorr
  0.59KO Coca ColaPairCorr
  0.58MCD McDonaldsPairCorr
  0.53MMM 3M CompanyPairCorr
  0.52TRV The Travelers CompaniesPairCorr
  0.52DD Dupont De NemoursPairCorr
  0.43CSCO Cisco SystemsPairCorr
  0.38INTC IntelPairCorr

Related Correlations Analysis

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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   
CDABPBKC
CDABLBNW
LBNWPBKC
CBOFPBKC
CBOFLBNW
CBOFFCCTP
  
High negative correlations   
CDABFCCTP
FCCTPPBKC
FCCTPLBNW
CBOFCDAB
CBOFFCCTP
CBOFLBNW

Risk-Adjusted Indicators

There is a big difference between First Pink Sheet performing well and First Capital 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 First Capital'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in First Capital 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.

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