First National Correlations

FXNC Stock

USD 22.27 0.08 0.36%

The current 90-days correlation between First National Corp and Lake Shore Bancorp is 0.13 (i.e., Average diversification). The correlation of First National 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 National Correlation With Market

Very weak diversification

The correlation between First National Corp and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First National Corp 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 National Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with First Stock

0.85	BY	Byline Bancorp	Pair Corr
0.73	NU	Nu Holdings	Pair Corr
0.81	PB	Prosperity Bancshares	Pair Corr
0.72	RF	Regions Financial	Pair Corr
0.62	VBNK	VersaBank	Pair Corr
0.62	VBTX	Veritex Holdings	Pair Corr
0.91	EBTC	Enterprise Bancorp	Pair Corr
0.9	EFSC	Enterprise Financial	Pair Corr
0.77	WASH	Washington Trust Bancorp	Pair Corr
0.82	EQBK	Equity Bancshares,	Pair Corr
0.89	ESSA	ESSA Bancorp	Pair Corr
0.75	TFINP	Triumph Financial	Pair Corr
0.74	EVBN	Evans Bancorp	Pair Corr
0.86	WMPN	William Penn Bancorp	Pair Corr
0.67	WNEB	Western New England	Pair Corr

Moving against First Stock

0.49	VBFC	Village Bank	Pair Corr
0.33	ECBK	ECB Bancorp	Pair Corr

Related Correlations Analysis

	HFBL	LSBK	HMNF	OVLY	CULL	HVBC	CWBC	OFED	MGYR	FFNW
HFBL		0.56	0.0	-0.29	0.0	0.0	-0.25	0.0	0.27	-0.24	HFBL
LSBK	0.56		0.0	-0.41	0.0	0.0	-0.3	0.0	0.3	0.08	LSBK
HMNF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	HMNF
OVLY	-0.29	-0.41	0.0		0.0	0.0	0.69	0.0	0.16	0.08	OVLY
CULL	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	CULL
HVBC	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	HVBC
CWBC	-0.25	-0.3	0.0	0.69	0.0	0.0		0.0	0.2	0.22	CWBC
OFED	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	OFED
MGYR	0.27	0.3	0.0	0.16	0.0	0.0	0.2	0.0		0.1	MGYR
FFNW	-0.24	0.08	0.0	0.08	0.0	0.0	0.22	0.0	0.1		FFNW
	HFBL	LSBK	HMNF	OVLY	CULL	HVBC	CWBC	OFED	MGYR	FFNW

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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	+ 0.69	OVLY
LSBK	+ 0.56	HFBL
MGYR	+ 0.3	LSBK
MGYR	+ 0.27	HFBL
FFNW	+ 0.22	CWBC
MGYR	+ 0.2	CWBC

High negative correlations

OVLY	- 0.41	LSBK
CWBC	- 0.3	LSBK
OVLY	- 0.29	HFBL
CWBC	- 0.25	HFBL
FFNW	- 0.24	HFBL
FFNW	- 0.0	OFED

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First National 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 National'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
HFBL	1.61	0.16	0.07	0.48	2.06	(2.10)	5.67	(4.53)	13.32
LSBK	1.63	0.33	0.16	0.63	1.61	(2.29)	3.62	(3.16)	21.68
HMNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OVLY	1.48	(0.26)	0.00	(0.46)	0.00	0.00	2.38	(3.77)	11.49
CULL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HVBC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CWBC	0.99	(0.21)	0.00	(0.33)	0.00	0.00	2.28	(2.17)	6.01
OFED	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
FFNW	0.98	0.05	0.10	(4.29)	1.01	(1.14)	1.17	(1.77)	16.29

First National Corporate Executives

Elected by the shareholders, the First National's board of directors comprises two types of representatives: First National inside directors who are chosen from within the company, and outside directors, selected externally and held independent of First. The board's role is to monitor First National's management team and ensure that shareholders' interests are well served. First National's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, First National's outside directors are responsible for providing unbiased perspectives on the board's policies.

Shane Bell

CFO, Executive VP, CFO of First Bank and Executive VP of First Bank

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