KeyCorp Correlations

KEY Stock

USD 15.80 0.12 0.77%

The current 90-days correlation between KeyCorp and Western Alliance Bancorporation is 0.75 (i.e., Poor diversification). The correlation of KeyCorp 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.

KeyCorp Correlation With Market

Very weak diversification

The correlation between KeyCorp and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KeyCorp and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in KeyCorp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

For more information on how to buy KeyCorp Stock please use our How to Invest in KeyCorp guide.

Moving together with KeyCorp Stock

0.85	AX	Axos Financial	Pair Corr
0.85	BY	Byline Bancorp	Pair Corr
0.7	KB	KB Financial Group	Pair Corr
0.92	PB	Prosperity Bancshares	Pair Corr
0.97	RF	Regions Financial	Pair Corr
0.89	VBNK	VersaBank	Pair Corr
0.8	VBTX	Veritex Holdings	Pair Corr
0.65	EFSC	Enterprise Financial	Pair Corr
0.84	EGBN	Eagle Bancorp	Pair Corr
0.84	WASH	Washington Trust Bancorp	Pair Corr
0.89	EQBK	Equity Bancshares,	Pair Corr
0.61	WAFDP	Washington Federal	Pair Corr
0.64	TFINP	Triumph Financial	Pair Corr
0.86	EVBN	Evans Bancorp	Pair Corr
0.94	EWBC	East West Bancorp	Pair Corr
0.89	WMPN	William Penn Bancorp	Pair Corr

Moving against KeyCorp Stock

0.71	VBFC	Village Bank	Pair Corr
0.51	TECTP	Tectonic Financial	Pair Corr
0.71	FCAP	First Capital	Pair Corr
0.48	BANFP	BFC Capital Trust Potential Growth	Pair Corr
0.38	OCFCP	OceanFirst Financial Corp	Pair Corr

Related Correlations Analysis

	WAL	CMA	PACW	TFC	FITB	RF	NYCB	ZION	FHN	PNC
WAL		0.85	0.0	0.9	0.92	0.89	0.0	0.9	0.73	0.86	WAL
CMA	0.85		0.0	0.89	0.87	0.84	0.0	0.84	0.84	0.83	CMA
PACW	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	PACW
TFC	0.9	0.89	0.0		0.85	0.78	0.0	0.84	0.88	0.81	TFC
FITB	0.92	0.87	0.0	0.85		0.98	0.0	0.94	0.67	0.95	FITB
RF	0.89	0.84	0.0	0.78	0.98		0.0	0.96	0.64	0.97	RF
NYCB	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	NYCB
ZION	0.9	0.84	0.0	0.84	0.94	0.96	0.0		0.74	0.97	ZION
FHN	0.73	0.84	0.0	0.88	0.67	0.64	0.0	0.74		0.71	FHN
PNC	0.86	0.83	0.0	0.81	0.95	0.97	0.0	0.97	0.71		PNC
	WAL	CMA	PACW	TFC	FITB	RF	NYCB	ZION	FHN	PNC

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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

RF	+ 0.98	FITB
PNC	+ 0.97	RF
PNC	+ 0.97	ZION
ZION	+ 0.96	RF
PNC	+ 0.95	FITB
ZION	+ 0.94	FITB

High negative correlations

PNC	- 0.0	NYCB
FHN	- 0.0	NYCB
ZION	- 0.0	NYCB
NYCB	- 0.0	RF
NYCB	- 0.0	FITB
NYCB	- 0.0	TFC

Risk-Adjusted Indicators

There is a big difference between KeyCorp Stock performing well and KeyCorp 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 KeyCorp'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
WAL	1.94	(0.09)	(0.17)	3.32	(3.97)	11.16
CMA	1.42	(0.11)	(0.21)	2.84	(3.75)	9.01
PACW	0.00	0.00	0.00	0.00	0.00	0.00
TFC	1.21	(0.09)	(0.19)	1.89	(2.67)	10.25
FITB	1.17	(0.19)	(0.30)	2.47	(2.83)	6.08
RF	1.20	(0.17)	(0.27)	2.41	(2.81)	6.28
NYCB	0.00	0.00	0.00	0.00	0.00	0.00
ZION	1.47	(0.13)	(0.21)	2.50	(3.08)	9.75
FHN	1.49	0.05	(0.07)	2.73	(3.32)	9.75
PNC	1.08	(0.15)	(0.25)	1.81	(2.87)	8.03

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