Northeast Community Correlations

NECB Stock

USD 23.26 0.03 0.13%

The current 90-days correlation between Northeast Community and Community West Bancshares is 0.62 (i.e., Poor diversification). The correlation of Northeast Community 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.

Northeast Community Correlation With Market

Weak diversification

The correlation between Northeast Community Bancorp and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northeast Community Bancorp 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 Northeast Community 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 main economic indicators.

Moving together with Northeast Stock

0.98	AX	Axos Financial	Pair Corr
0.86	BY	Byline Bancorp	Pair Corr
0.79	KB	KB Financial Group	Pair Corr
0.83	PB	Prosperity Bancshares	Pair Corr
0.94	RF	Regions Financial	Pair Corr
0.87	VABK	Virginia National	Pair Corr
0.93	VBNK	VersaBank Earnings Call This Week	Pair Corr
0.93	VBTX	Veritex Holdings	Pair Corr
0.71	TFC-PI	Truist Financial	Pair Corr
0.91	EGBN	Eagle Bancorp	Pair Corr
0.64	KEY-PJ	KeyCorp	Pair Corr
0.79	KEY-PK	KeyCorp Normal Trading	Pair Corr
0.95	WABC	Westamerica Bancorporation	Pair Corr
0.88	WAFD	Washington Federal	Pair Corr
0.9	WASH	Washington Trust Bancorp	Pair Corr
0.93	EQBK	Equity Bancshares,	Pair Corr
0.7	WAFDP	Washington Federal	Pair Corr
0.64	EVBN	Evans Bancorp	Pair Corr
0.83	WMPN	William Penn Bancorp	Pair Corr

Moving against Northeast Stock

0.87	VBFC	Village Bank	Pair Corr
0.65	TECTP	Tectonic Financial	Pair Corr
0.57	DB	Deutsche Bank AG Normal Trading	Pair Corr
0.5	EBTC	Enterprise Bancorp	Pair Corr
0.56	EFSI	Eagle Financial Services	Pair Corr
0.52	WSBCP	WesBanco	Pair Corr
0.38	BANC-PF	Banc of California	Pair Corr

Related Correlations Analysis

	CWBC	FFNW	FCAP	HMNF	HTBI	FNWB	OFED	CULL	HFBL	GSBC
CWBC		0.94	-0.42	0.0	0.52	0.4	0.0	0.0	-0.6	0.91	CWBC
FFNW	0.94		-0.29	0.0	0.57	0.43	0.0	0.0	-0.53	0.82	FFNW
FCAP	-0.42	-0.29		0.0	0.23	0.3	0.0	0.0	0.64	-0.56	FCAP
HMNF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	HMNF
HTBI	0.52	0.57	0.23	0.0		0.47	0.0	0.0	-0.11	0.38	HTBI
FNWB	0.4	0.43	0.3	0.0	0.47		0.0	0.0	0.12	0.29	FNWB
OFED	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	OFED
CULL	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	CULL
HFBL	-0.6	-0.53	0.64	0.0	-0.11	0.12	0.0	0.0		-0.61	HFBL
GSBC	0.91	0.82	-0.56	0.0	0.38	0.29	0.0	0.0	-0.61		GSBC
	CWBC	FFNW	FCAP	HMNF	HTBI	FNWB	OFED	CULL	HFBL	GSBC

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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

FFNW	+ 0.94	CWBC
GSBC	+ 0.91	CWBC
GSBC	+ 0.82	FFNW
HFBL	+ 0.64	FCAP
HTBI	+ 0.57	FFNW
HTBI	+ 0.52	CWBC

High negative correlations

GSBC	- 0.61	HFBL
HFBL	- 0.6	CWBC
GSBC	- 0.56	FCAP
HFBL	- 0.53	FFNW
FCAP	- 0.42	CWBC
FCAP	- 0.29	FFNW

Risk-Adjusted Indicators

There is a big difference between Northeast Stock performing well and Northeast Community 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 Northeast Community'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
CWBC	0.99	(0.11)	0.00	(0.15)	0.00	0.00	2.45	(2.17)	6.94
FFNW	0.69	(0.09)	0.00	2.16	0.00	0.00	1.08	(1.69)	4.22
FCAP	1.50	0.23	0.11	0.71	1.84	(1.63)	3.27	(3.81)	11.75
HMNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HTBI	1.24	(0.02)	0.00	(0.22)	0.00	0.00	2.33	(1.88)	7.22
FNWB	1.25	(0.01)	0.00	(0.03)	0.00	0.00	2.93	(2.76)	9.99
OFED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CULL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HFBL	1.41	0.07	0.03	(0.22)	1.91	(1.94)	5.67	(4.53)	13.32
GSBC	1.23	(0.06)	0.00	(0.09)	0.00	0.00	2.59	(2.97)	7.73

Northeast Community Corporate Executives

Elected by the shareholders, the Northeast Community's board of directors comprises two types of representatives: Northeast Community inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Northeast. The board's role is to monitor Northeast Community's management team and ensure that shareholders' interests are well served. Northeast Community'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, Northeast Community's outside directors are responsible for providing unbiased perspectives on the board's policies.

Donald Hom

CFO, Principal Accounting Officer, Treasurer of Northeast Community Bank, CFO of Northeast Community Bank, Executive VP, Executive VP of Northeast Community Bank and Treasurer

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