Fidelity Correlations

FDBC Stock

USD 43.33 0.78 1.77%

The current 90-days correlation between Fidelity DD Bancorp and Chemung Financial Corp is 0.31 (i.e., Weak diversification). The correlation of Fidelity 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.

Fidelity Correlation With Market

Weak diversification

The correlation between Fidelity DD Bancorp and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity DD 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 Fidelity DD 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 bureau of labor statistics.

Moving together with Fidelity Stock

0.72	AX	Axos Financial	Pair Corr
0.62	BY	Byline Bancorp	Pair Corr
0.92	VABK	Virginia National	Pair Corr
0.82	VBTX	Veritex Holdings	Pair Corr
0.74	EGBN	Eagle Bancorp	Pair Corr
0.75	WABC	Westamerica Bancorporation	Pair Corr
0.86	WAFD	Washington Federal	Pair Corr
0.72	WAFDP	Washington Federal	Pair Corr
0.63	EVBN	Evans Bancorp	Pair Corr

Moving against Fidelity Stock

0.72	VBFC	Village Bank	Pair Corr
0.59	TECTP	Tectonic Financial	Pair Corr
0.57	DB	Deutsche Bank AG	Pair Corr
0.53	TFC-PR	Truist Financial	Pair Corr
0.52	TFC-PO	Truist Financial	Pair Corr
0.33	WF	Woori Financial Group	Pair Corr
0.7	KEY-PI	KeyCorp	Pair Corr
0.61	WSBCP	WesBanco	Pair Corr
0.48	BANC-PF	Banc of California	Pair Corr
0.46	KEY-PL	KeyCorp	Pair Corr
0.4	CFG-PH	Citizens Financial Group,	Pair Corr

Related Correlations Analysis

	CHMG	OVLY	FCCO	NKSH	FFNW	ESSA	FSBW	HVBC	HMNF	MGYR
CHMG		0.39	0.58	0.27	0.25	0.55	0.26	0.0	0.0	0.4	CHMG
OVLY	0.39		0.44	0.5	0.08	0.14	0.7	0.0	0.0	0.16	OVLY
FCCO	0.58	0.44		0.55	0.1	0.89	0.43	0.0	0.0	0.27	FCCO
NKSH	0.27	0.5	0.55		0.1	0.29	0.83	0.0	0.0	0.01	NKSH
FFNW	0.25	0.08	0.1	0.1		0.04	0.14	0.0	0.0	0.1	FFNW
ESSA	0.55	0.14	0.89	0.29	0.04		0.11	0.0	0.0	0.4	ESSA
FSBW	0.26	0.7	0.43	0.83	0.14	0.11		0.0	0.0	0.04	FSBW
HVBC	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	HVBC
HMNF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	HMNF
MGYR	0.4	0.16	0.27	0.01	0.1	0.4	0.04	0.0	0.0		MGYR
	CHMG	OVLY	FCCO	NKSH	FFNW	ESSA	FSBW	HVBC	HMNF	MGYR

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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

ESSA	+ 0.89	FCCO
FSBW	+ 0.83	NKSH
FSBW	+ 0.7	OVLY
FCCO	+ 0.58	CHMG
ESSA	+ 0.55	CHMG
NKSH	+ 0.55	FCCO

High negative correlations

MGYR	- 0.0	HMNF
MGYR	- 0.0	HVBC
HMNF	- 0.0	HVBC
HMNF	- 0.0	FSBW
HVBC	- 0.0	FSBW
HMNF	- 0.0	ESSA

Risk-Adjusted Indicators

There is a big difference between Fidelity Stock performing well and Fidelity 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 Fidelity'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
CHMG	1.28	(0.15)	0.00	(0.38)	0.00	0.00	1.94	(2.96)	19.34
OVLY	1.48	(0.26)	0.00	(0.46)	0.00	0.00	2.38	(3.77)	11.49
FCCO	1.31	(0.15)	0.00	(0.21)	0.00	0.00	3.41	(3.73)	10.26
NKSH	1.51	(0.12)	0.00	(0.17)	0.00	0.00	3.81	(3.03)	10.80
FFNW	0.98	0.05	0.10	(4.29)	1.01	(1.14)	1.17	(1.77)	16.29
ESSA	1.18	(0.03)	0.00	(0.12)	0.00	0.00	2.00	(2.21)	6.57
FSBW	1.58	(0.22)	0.00	(0.28)	0.00	0.00	2.62	(4.04)	9.31
HVBC	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
MGYR	1.10	0.03	0.04	0.00	1.45	(1.35)	2.98	(2.68)	6.74

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