National Bankshares Correlations

NKSH Stock

USD 27.28 0.18 0.66%

The current 90-days correlation between National Bankshares and Finward Bancorp is 0.3 (i.e., Weak diversification). The correlation of National Bankshares 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.

National Bankshares Correlation With Market

Very weak diversification

The correlation between National Bankshares and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National Bankshares 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 National Bankshares. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For more detail on how to invest in National Stock please use our How to Invest in National Bankshares guide.

Moving together with National Stock

0.87	AX	Axos Financial	Pair Corr
0.75	BY	Byline Bancorp	Pair Corr
0.66	KB	KB Financial Group	Pair Corr
0.74	PB	Prosperity Bancshares	Pair Corr
0.77	RF	Regions Financial	Pair Corr
0.66	VABK	Virginia National	Pair Corr
0.66	VBNK	VersaBank	Pair Corr
0.83	VBTX	Veritex Holdings	Pair Corr
0.82	EGBN	Eagle Bancorp	Pair Corr
0.67	WABC	Westamerica Bancorporation	Pair Corr
0.66	WASH	Washington Trust Bancorp	Pair Corr
0.79	EQBK	Equity Bancshares,	Pair Corr
0.64	WAFDP	Washington Federal	Pair Corr
0.76	EVBN	Evans Bancorp	Pair Corr
0.75	WMPN	William Penn Bancorp	Pair Corr

Moving against National Stock

0.77	VBFC	Village Bank	Pair Corr
0.54	TECTP	Tectonic Financial	Pair Corr
0.52	DB	Deutsche Bank AG	Pair Corr
0.39	EBMT	Eagle Bancorp Montana	Pair Corr
0.39	WSBCP	WesBanco	Pair Corr
0.33	KEY-PI	KeyCorp	Pair Corr

Related Correlations Analysis

	FNWD	CWBC	FFNW	OVLY	HMNF	OFED	CULL	HFBL	FNWB	FCCO
FNWD		0.25	0.34	0.16	0.0	0.0	0.0	-0.56	-0.59	-0.47	FNWD
CWBC	0.25		0.22	0.69	0.0	0.0	0.0	-0.25	0.21	0.61	CWBC
FFNW	0.34	0.22		0.08	0.0	0.0	0.0	-0.24	0.04	0.1	FFNW
OVLY	0.16	0.69	0.08		0.0	0.0	0.0	-0.29	0.1	0.44	OVLY
HMNF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	HMNF
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	-0.56	-0.25	-0.24	-0.29	0.0	0.0	0.0		0.31	0.17	HFBL
FNWB	-0.59	0.21	0.04	0.1	0.0	0.0	0.0	0.31		0.75	FNWB
FCCO	-0.47	0.61	0.1	0.44	0.0	0.0	0.0	0.17	0.75		FCCO
	FNWD	CWBC	FFNW	OVLY	HMNF	OFED	CULL	HFBL	FNWB	FCCO

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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	+ 0.75	FNWB
OVLY	+ 0.69	CWBC
FCCO	+ 0.61	CWBC
FCCO	+ 0.44	OVLY
FFNW	+ 0.34	FNWD
FNWB	+ 0.31	HFBL

High negative correlations

FNWB	- 0.59	FNWD
HFBL	- 0.56	FNWD
FCCO	- 0.47	FNWD
HFBL	- 0.29	OVLY
HFBL	- 0.25	CWBC
HFBL	- 0.24	FFNW

Risk-Adjusted Indicators

There is a big difference between National Stock performing well and National Bankshares 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 National Bankshares' 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
OVLY	1.48	(0.26)	0.00	(0.46)	0.00	0.00	2.38	(3.77)	11.49
HMNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
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	1.61	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
FCCO	1.31	(0.15)	0.00	(0.21)	0.00	0.00	3.41	(3.73)	10.26

National Bankshares Corporate Executives

Elected by the shareholders, the National Bankshares' board of directors comprises two types of representatives: National Bankshares inside directors who are chosen from within the company, and outside directors, selected externally and held independent of National. The board's role is to monitor National Bankshares' management team and ensure that shareholders' interests are well served. National Bankshares' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, National Bankshares' outside directors are responsible for providing unbiased perspectives on the board's policies.

	Lora Jones	Treasurer CFO	Profile
	David Skeens	CFO, Treasurer, CFO of National Bank of Blacksburg and Sr. VP of Operations and Risk Management - National Bank of Blacksburg	Profile

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