FNB Correlations

FIDS Stock

USD 22.30 0.00 0.00%

The correlation of FNB 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. If the correlation is 0, the equities are not correlated; they are entirely random.

FNB Correlation With Market

Average diversification

The correlation between FNB Inc and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FNB Inc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to FNB could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FNB 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 FNB - 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 FNB Inc to buy it.

Moving against FNB Pink Sheet

0.42	CIHKY	China Merchants Bank Earnings Call This Week	Pair Corr
0.4	EML	Eastern	Pair Corr
0.36	BNPQY	BNP Paribas SA	Pair Corr
0.35	BBAS3	Banco do Brasil	Pair Corr
0.34	BNPQF	BNP Paribas SA	Pair Corr
0.37	BSET	Bassett Furniture	Pair Corr
0.36	AONNY	Aeon Co	Pair Corr
0.42	SGAPY	Singapore Telecommunicatio	Pair Corr
0.39	CLLNY	Cellnex Telecom SA	Pair Corr
0.37	037833EE6	APPLE INC	Pair Corr

Related Correlations Analysis

	PCLB	CYFL	APLO	CEFC	EFIN	MIFF	CTYP	FBPA	CCFC
PCLB		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	PCLB
CYFL	0.0		0.79	0.44	0.75	-0.68	-0.37	0.59	0.72	CYFL
APLO	0.0	0.79		0.7	0.88	-0.64	-0.04	0.66	0.44	APLO
CEFC	0.0	0.44	0.7		0.74	-0.14	0.32	0.46	-0.03	CEFC
EFIN	0.0	0.75	0.88	0.74		-0.56	0.08	0.63	0.34	EFIN
MIFF	0.0	-0.68	-0.64	-0.14	-0.56		0.38	-0.54	-0.64	MIFF
CTYP	0.0	-0.37	-0.04	0.32	0.08	0.38		-0.14	-0.64	CTYP
FBPA	0.0	0.59	0.66	0.46	0.63	-0.54	-0.14		0.42	FBPA
CCFC	0.0	0.72	0.44	-0.03	0.34	-0.64	-0.64	0.42		CCFC
	PCLB	CYFL	APLO	CEFC	EFIN	MIFF	CTYP	FBPA	CCFC

Click cells to compare fundamentals

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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

EFIN	+ 0.88	APLO
APLO	+ 0.79	CYFL
EFIN	+ 0.75	CYFL
EFIN	+ 0.74	CEFC
CCFC	+ 0.72	CYFL
CEFC	+ 0.7	APLO

High negative correlations

MIFF	- 0.68	CYFL
CCFC	- 0.64	CTYP
CCFC	- 0.64	MIFF
MIFF	- 0.64	APLO
MIFF	- 0.56	EFIN
FBPA	- 0.54	MIFF

Risk-Adjusted Indicators

There is a big difference between FNB Pink Sheet performing well and FNB 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 FNB'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
PCLB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CYFL	0.92	0.40	0.18	3.63	0.77	(1.69)	3.35	(2.08)	12.44
APLO	0.99	0.31	0.16	1.01	0.82	(1.73)	2.20	(2.31)	13.95
CEFC	1.20	0.00	0.05	(0.09)	1.59	(1.56)	3.75	(3.63)	10.28
EFIN	1.13	0.27	0.10	(1.89)	1.69	(1.62)	2.70	(2.90)	17.21
MIFF	0.32	0.01	0.00	(6.43)	0.00	0.00	0.70	(1.16)	8.97
CTYP	1.14	0.03	0.00	(0.06)	0.00	0.00	3.10	(3.33)	25.17
FBPA	0.87	0.07	0.06	(0.52)	1.10	(1.93)	2.41	(2.32)	6.83
CCFC	0.88	(0.08)	0.03	(0.04)	1.77	(4.41)	2.93	(2.38)	12.50

Be your own money manager

Our tools can tell you how much better you can do entering a position in FNB 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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