ICICI Bank Correlations

IBN Stock

USD 31.28 0.64 2.09%

The current 90-days correlation between ICICI Bank Limited and US Bancorp is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ICICI Bank moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ICICI Bank Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ICICI Bank Correlation With Market

Modest diversification

The correlation between ICICI Bank Limited and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ICICI Bank Limited and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in ICICI Bank Limited. 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 ICICI Stock

0.67

VABK

Virginia National

Pair Corr

Moving against ICICI Stock

0.54	TFC-PR	Truist Financial	Pair Corr
0.5	TFC-PO	Truist Financial	Pair Corr
0.37	TECTP	Tectonic Financial	Pair Corr
0.37	TFC-PI	Truist Financial	Pair Corr
0.31	CFG-PH	Citizens Financial Group,	Pair Corr
0.54	BANFP	BFC Capital Trust	Pair Corr
0.44	ESSA	ESSA Bancorp	Pair Corr
0.43	KEY-PI	KeyCorp	Pair Corr
0.43	BANC-PF	Banc of California	Pair Corr
0.38	WSBCP	WesBanco	Pair Corr

Related Correlations Analysis

	USB-PH	USB-PP	KB	ITUB	KEY-PI	KEY-PK	USB-PA	KEY-PJ	BSAC	BCH
USB-PH		0.7	-0.24	0.7	0.78	0.74	0.82	0.8	0.7	0.69	USB-PH
USB-PP	0.7		-0.03	0.37	0.46	0.79	0.51	0.76	0.35	0.33	USB-PP
KB	-0.24	-0.03		-0.46	-0.28	-0.3	-0.49	-0.35	-0.61	-0.59	KB
ITUB	0.7	0.37	-0.46		0.77	0.63	0.79	0.71	0.95	0.97	ITUB
KEY-PI	0.78	0.46	-0.28	0.77		0.66	0.75	0.74	0.71	0.74	KEY-PI
KEY-PK	0.74	0.79	-0.3	0.63	0.66		0.74	0.91	0.59	0.61	KEY-PK
USB-PA	0.82	0.51	-0.49	0.79	0.75	0.74		0.79	0.79	0.82	USB-PA
KEY-PJ	0.8	0.76	-0.35	0.71	0.74	0.91	0.79		0.7	0.7	KEY-PJ
BSAC	0.7	0.35	-0.61	0.95	0.71	0.59	0.79	0.7		0.99	BSAC
BCH	0.69	0.33	-0.59	0.97	0.74	0.61	0.82	0.7	0.99		BCH
	USB-PH	USB-PP	KB	ITUB	KEY-PI	KEY-PK	USB-PA	KEY-PJ	BSAC	BCH

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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

BCH	+ 0.99	BSAC
BCH	+ 0.97	ITUB
BSAC	+ 0.95	ITUB
KEY-PJ	+ 0.91	KEY-PK
USB-PA	+ 0.82	USB-PH
BCH	+ 0.82	USB-PA

High negative correlations

BSAC	- 0.61	KB
BCH	- 0.59	KB
USB-PA	- 0.49	KB
ITUB	- 0.46	KB
KEY-PJ	- 0.35	KB
KEY-PK	- 0.3	KB

Risk-Adjusted Indicators

There is a big difference between ICICI Stock performing well and ICICI Bank 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 ICICI Bank'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
USB-PH	0.49	0.03	0.15	0.06	0.49	(0.62)	1.11	(0.93)	3.46
USB-PP	0.68	0.00	0.00	(0.08)	0.00	0.00	1.19	(1.20)	4.29
KB	1.05	(0.07)	0.00	(0.20)	0.00	0.00	2.63	(2.18)	7.01
ITUB	1.27	0.40	0.24	0.54	1.22	(1.51)	4.09	(1.96)	8.16
KEY-PI	0.57	0.08	0.18	0.38	0.69	(0.59)	1.31	(1.05)	3.97
KEY-PK	1.02	0.03	0.05	0.01	1.32	(1.00)	2.12	(2.00)	5.19
USB-PA	0.45	0.05	0.14	0.21	0.46	(0.66)	1.59	(1.03)	3.46
KEY-PJ	0.81	0.06	0.08	0.07	1.16	(0.83)	1.92	(1.79)	7.27
BSAC	1.16	0.28	0.20	0.44	1.28	(1.18)	2.52	(2.22)	5.64
BCH	0.99	0.32	0.27	0.76	0.95	(1.06)	2.32	(1.74)	4.98

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