Macatawa Bank Correlations

Summary

The current 90-days correlation between Macatawa Bank and Community West Bancshares is -0.09 (i.e., Good diversification). The correlation of Macatawa Bank 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.

Macatawa Bank Correlation With Market

Good diversification

The correlation between Macatawa Bank and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Macatawa Bank and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. 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 against Macatawa Stock

0.52	PPYA	Papaya Growth Opportunity	Pair Corr
0.48	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.31	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	HFBL	HMNF	FCAP	MGYR	HVBC	CWBC	OFED	CULL	LSBK
HFBL		0.44	-0.33	0.46	0.28	-0.36	-0.44	-0.38	-0.09	HFBL
HMNF	0.44		-0.31	0.54	0.4	-0.17	-0.34	-0.5	0.03	HMNF
FCAP	-0.33	-0.31		-0.85	-0.1	-0.48	0.85	0.4	-0.3	FCAP
MGYR	0.46	0.54	-0.85		0.22	0.27	-0.92	-0.4	0.3	MGYR
HVBC	0.28	0.4	-0.1	0.22		-0.03	-0.25	-0.54	0.3	HVBC
CWBC	-0.36	-0.17	-0.48	0.27	-0.03		-0.31	0.05	0.34	CWBC
OFED	-0.44	-0.34	0.85	-0.92	-0.25	-0.31		0.36	-0.38	OFED
CULL	-0.38	-0.5	0.4	-0.4	-0.54	0.05	0.36		-0.34	CULL
LSBK	-0.09	0.03	-0.3	0.3	0.3	0.34	-0.38	-0.34		LSBK
	HFBL	HMNF	FCAP	MGYR	HVBC	CWBC	OFED	CULL	LSBK

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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

OFED	+ 0.85	FCAP
MGYR	+ 0.54	HMNF
MGYR	+ 0.46	HFBL
HMNF	+ 0.44	HFBL
HVBC	+ 0.4	HMNF
CULL	+ 0.4	FCAP

High negative correlations

OFED	- 0.92	MGYR
MGYR	- 0.85	FCAP
CULL	- 0.54	HVBC
CULL	- 0.5	HMNF
CWBC	- 0.48	FCAP
OFED	- 0.44	HFBL

Risk-Adjusted Indicators

There is a big difference between Macatawa Stock performing well and Macatawa 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 Macatawa 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
HFBL	1.39	0.08	0.02	(0.36)	1.82	(2.16)	4.70	(4.31)	12.54
HMNF	1.88	0.39	0.16	2.51	1.85	(2.37)	4.29	(3.19)	13.15
FCAP	1.51	(0.18)	0.00	1.04	0.00	0.00	2.94	(3.38)	10.68
MGYR	1.10	0.26	0.18	1.13	0.93	(1.45)	2.98	(2.25)	10.51
HVBC	1.51	0.34	0.11	2.46	2.03	(1.59)	2.68	(4.11)	18.63
CWBC	1.10	0.04	0.01	0.23	1.33	(1.19)	2.53	(2.11)	11.26
OFED	2.13	(0.25)	0.00	(1.42)	0.00	0.00	3.48	(5.28)	12.66
CULL	0.51	(0.11)	0.00	0.92	0.00	0.00	1.18	(1.64)	4.73
LSBK	1.16	0.03	0.00	(0.15)	1.72	(1.63)	2.98	(3.49)	10.32

Macatawa Bank Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Macatawa Bank stock to make a market-neutral strategy. Peer analysis of Macatawa Bank could also be used in its relative valuation, which is a method of valuing Macatawa Bank by comparing valuation metrics with similar companies.

Home Federal Bancorp HMN Financial First Capital Magyar Bancorp HV Bancorp Community West Bancshares Oconee Federal Financial Cullman Bancorp Lake Shore Bancorp American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

Macatawa Bank Corporate Management

Jill Walcott	Sr. VP, Chief Retail Banking Officer of Macatawa Bank and Sr. VP of Macatawa Bank	Profile
Leslie Leegwater	VP Manager	Profile
Justin Beek	Senior Officer	Profile
Erich VanRavenswaay	VP Officer	Profile
Jodi Sevigny	Senior Officer	Profile
Susan VogelVanderson	Senior Officer	Profile

Still Interested in Macatawa Bank?

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