Northfield Bancorp Correlations

NFBK Stock

USD 11.27 0.06 0.53%

The current 90-days correlation between Northfield Bancorp and Community West Bancshares is 0.69 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Northfield Bancorp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northfield Bancorp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Northfield Bancorp Correlation With Market

Very weak diversification

The correlation between Northfield Bancorp and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northfield 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 Northfield 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 bureau of labor statistics.

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

Moving together with Northfield Stock

0.73	AX	Axos Financial	Pair Corr
0.81	BY	Byline Bancorp	Pair Corr
0.79	VABK	Virginia National	Pair Corr
0.81	VBTX	Veritex Holdings	Pair Corr
0.66	EBTC	Enterprise Bancorp	Pair Corr
0.62	EFSC	Enterprise Financial	Pair Corr
0.72	EGBN	Eagle Bancorp	Pair Corr
0.68	WABC	Westamerica Bancorporation	Pair Corr
0.74	WASH	Washington Trust Bancorp	Pair Corr
0.79	EQBK	Equity Bancshares,	Pair Corr
0.73	EVBN	Evans Bancorp	Pair Corr
0.68	WMPN	William Penn Bancorp	Pair Corr
0.71	WNEB	Western New England	Pair Corr

Moving against Northfield Stock

0.61

VBFC

Village Bank

Pair Corr

Related Correlations Analysis

	FNWD	CWBC	FFNW	HBCP	HMNF	HFBL	FNWB	FCAP	FCCO	LNKB
FNWD		0.25	0.34	-0.4	0.0	-0.56	-0.59	-0.13	-0.47	0.09	FNWD
CWBC	0.25		0.22	0.59	0.0	-0.25	0.21	-0.59	0.61	0.73	CWBC
FFNW	0.34	0.22		0.24	0.0	-0.24	0.04	-0.01	0.1	0.09	FFNW
HBCP	-0.4	0.59	0.24		0.0	0.18	0.69	-0.23	0.91	0.38	HBCP
HMNF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	HMNF
HFBL	-0.56	-0.25	-0.24	0.18	0.0		0.31	0.44	0.17	-0.17	HFBL
FNWB	-0.59	0.21	0.04	0.69	0.0	0.31		0.04	0.75	0.22	FNWB
FCAP	-0.13	-0.59	-0.01	-0.23	0.0	0.44	0.04		-0.32	-0.48	FCAP
FCCO	-0.47	0.61	0.1	0.91	0.0	0.17	0.75	-0.32		0.51	FCCO
LNKB	0.09	0.73	0.09	0.38	0.0	-0.17	0.22	-0.48	0.51		LNKB
	FNWD	CWBC	FFNW	HBCP	HMNF	HFBL	FNWB	FCAP	FCCO	LNKB

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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

FCCO	+ 0.91	HBCP
FCCO	+ 0.75	FNWB
LNKB	+ 0.73	CWBC
FNWB	+ 0.69	HBCP
FCCO	+ 0.61	CWBC
HBCP	+ 0.59	CWBC

High negative correlations

FCAP	- 0.59	CWBC
FNWB	- 0.59	FNWD
HFBL	- 0.56	FNWD
LNKB	- 0.48	FCAP
FCCO	- 0.47	FNWD
HBCP	- 0.4	FNWD

Risk-Adjusted Indicators

There is a big difference between Northfield Stock performing well and Northfield Bancorp 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 Northfield Bancorp'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
FNWD	1.05	(0.09)	0.00	(0.46)	0.00	0.00	2.12	(1.97)	8.51
CWBC	0.99	(0.21)	0.00	(0.33)	0.00	0.00	2.28	(2.17)	6.01
FFNW	0.98	0.05	0.10	(4.29)	1.01	(1.14)	1.17	(1.77)	16.29
HBCP	1.36	(0.07)	0.00	(0.13)	0.00	0.00	2.82	(3.25)	8.36
HMNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HFBL	1.61	0.16	0.07	0.48	2.06	(2.10)	5.67	(4.53)	13.32
FNWB	1.20	0.00	0.00	(0.07)	0.00	0.00	2.68	(2.76)	9.99
FCAP	1.23	0.45	0.26	0.88	1.22	(1.40)	3.26	(2.28)	10.37
FCCO	1.31	(0.15)	0.00	(0.21)	0.00	0.00	3.41	(3.73)	10.26
LNKB	1.44	(0.11)	0.00	(0.19)	0.00	0.00	3.17	(2.96)	8.31

Northfield Bancorp Corporate Management

Susan Esq	General VP	Profile
Christopher Donohue	VP Bank	Profile
Daniel Greene	VP Bank	Profile
Damien Kane	Senior Marketing	Profile

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