First Bancorp Correlations

FNLC Stock

USD 24.95 0.13 0.52%

The current 90-days correlation between First Bancorp and LINKBANCORP is 0.56 (i.e., Very weak diversification). The correlation of First Bancorp 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 Bancorp Correlation With Market

Weak diversification

The correlation between First Bancorp and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First 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 First 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 economic analysis.

For information on how to trade First Stock refer to our How to Trade First Stock guide.

Moving together with First Stock

0.84	AX	Axos Financial	Pair Corr
0.76	BY	Byline Bancorp	Pair Corr
0.67	RF	Regions Financial	Pair Corr
0.81	VABK	Virginia National	Pair Corr
0.75	VBNK	VersaBank	Pair Corr
0.9	VBTX	Veritex Holdings	Pair Corr
0.82	EGBN	Eagle Bancorp	Pair Corr
0.77	WABC	Westamerica Bancorporation	Pair Corr
0.92	WAFD	Washington Federal	Pair Corr
0.7	EQBK	Equity Bancshares,	Pair Corr
0.83	WAFDP	Washington Federal	Pair Corr
0.81	EVBN	Evans Bancorp	Pair Corr
0.64	WMPN	William Penn Bancorp	Pair Corr

Moving against First Stock

0.8	VBFC	Village Bank	Pair Corr
0.69	DB	Deutsche Bank AG	Pair Corr
0.68	TECTP	Tectonic Financial	Pair Corr
0.43	TFC-PO	Truist Financial	Pair Corr
0.4	TFC-PR	Truist Financial	Pair Corr
0.68	WSBCP	WesBanco	Pair Corr
0.66	KEY-PI	KeyCorp	Pair Corr
0.53	BANC-PF	Banc of California	Pair Corr
0.37	KEY-PL	KeyCorp	Pair Corr

Related Correlations Analysis

	LNKB	CULL	BWFG	FSBW	FNWD	CWBC	FFNW	OVLY	HMNF	FNWB
LNKB		0.0	0.7	0.68	0.22	0.73	0.26	0.83	0.0	0.21	LNKB
CULL	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CULL
BWFG	0.7	0.0		0.6	0.13	0.82	0.41	0.62	0.0	0.44	BWFG
FSBW	0.68	0.0	0.6		0.41	0.86	0.34	0.75	0.0	0.04	FSBW
FNWD	0.22	0.0	0.13	0.41		0.42	0.38	0.34	0.0	-0.51	FNWD
CWBC	0.73	0.0	0.82	0.86	0.42		0.41	0.74	0.0	0.2	CWBC
FFNW	0.26	0.0	0.41	0.34	0.38	0.41		0.29	0.0	0.1	FFNW
OVLY	0.83	0.0	0.62	0.75	0.34	0.74	0.29		0.0	0.1	OVLY
HMNF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	HMNF
FNWB	0.21	0.0	0.44	0.04	-0.51	0.2	0.1	0.1	0.0		FNWB
	LNKB	CULL	BWFG	FSBW	FNWD	CWBC	FFNW	OVLY	HMNF	FNWB

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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

CWBC	+ 0.86	FSBW
OVLY	+ 0.83	LNKB
CWBC	+ 0.82	BWFG
OVLY	+ 0.75	FSBW
OVLY	+ 0.74	CWBC
CWBC	+ 0.73	LNKB

High negative correlations

FNWB	- 0.51	FNWD
FNWB	- 0.0	HMNF
HMNF	- 0.0	OVLY
HMNF	- 0.0	FFNW
HMNF	- 0.0	CWBC
HMNF	- 0.0	FNWD

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Bancorp 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 Bancorp'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
LNKB	1.44	(0.10)	0.00	(0.18)	0.00	0.00	3.17	(2.96)	8.31
CULL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BWFG	1.52	(0.05)	0.00	(0.11)	0.00	0.00	3.42	(2.91)	8.46
FSBW	1.61	(0.20)	0.00	(0.27)	0.00	0.00	2.62	(4.04)	9.31
FNWD	1.04	(0.06)	0.00	(0.33)	0.00	0.00	2.12	(1.97)	8.51
CWBC	0.98	(0.19)	0.00	(0.32)	0.00	0.00	2.28	(2.17)	6.01
FFNW	1.00	0.03	0.09	(5.03)	1.06	(1.18)	1.17	(1.77)	16.29
OVLY	1.51	(0.29)	0.00	(0.50)	0.00	0.00	2.38	(3.77)	11.49
HMNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FNWB	1.17	0.03	0.00	(0.03)	0.00	0.00	2.68	(2.76)	9.99

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