Natwest Group Correlations

NWG Stock

USD 12.00 0.10 0.83%

The current 90-days correlation between Natwest Group PLC and ING Group NV is 0.57 (i.e., Very weak diversification). The correlation of Natwest Group 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.

Natwest Group Correlation With Market

Very weak diversification

The correlation between Natwest Group PLC and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Natwest Group PLC 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 Natwest Group PLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Natwest Stock

0.91	DB	Deutsche Bank AG	Pair Corr
0.66	WF	Woori Financial Group	Pair Corr
0.61	VBFC	Village Bank	Pair Corr
0.83	TECTP	Tectonic Financial	Pair Corr
0.69	TFC-PO	Truist Financial	Pair Corr
0.77	EBMT	Eagle Bancorp Montana	Pair Corr
0.71	KEY-PI	KeyCorp	Pair Corr
0.76	KEY-PJ	KeyCorp	Pair Corr
0.72	KEY-PK	KeyCorp	Pair Corr
0.78	KEY-PL	KeyCorp	Pair Corr
0.85	BANC-PF	Banc of California	Pair Corr
0.78	WSBCP	WesBanco	Pair Corr

Moving against Natwest Stock

0.72	VBNK	VersaBank	Pair Corr
0.66	KB	KB Financial Group	Pair Corr
0.64	AX	Axos Financial	Pair Corr
0.58	RF	Regions Financial	Pair Corr
0.47	VBTX	Veritex Holdings	Pair Corr
0.37	BY	Byline Bancorp	Pair Corr
0.36	PB	Prosperity Bancshares	Pair Corr
0.81	EFSI	Eagle Financial Services	Pair Corr
0.67	WAFD	Washington Federal	Pair Corr
0.64	EGBN	Eagle Bancorp	Pair Corr
0.61	WAFDP	Washington Federal	Pair Corr
0.51	EVBN	Evans Bancorp	Pair Corr
0.41	TFINP	Triumph Financial	Pair Corr
0.4	WMPN	William Penn Bancorp	Pair Corr
0.35	EQBK	Equity Bancshares,	Pair Corr

Related Correlations Analysis

	ING	HSBC	SAN	UBS	MUFG	BCS	BAC-PK	BBVA	C
ING		0.9	0.92	0.31	0.85	0.86	0.39	0.7	-0.16	ING
HSBC	0.9		0.98	0.42	0.84	0.95	0.48	0.72	0.09	HSBC
SAN	0.92	0.98		0.36	0.88	0.94	0.52	0.79	0.06	SAN
UBS	0.31	0.42	0.36		0.47	0.56	0.46	0.18	0.74	UBS
MUFG	0.85	0.84	0.88	0.47		0.85	0.5	0.66	0.13	MUFG
BCS	0.86	0.95	0.94	0.56	0.85		0.58	0.68	0.27	BCS
BAC-PK	0.39	0.48	0.52	0.46	0.5	0.58		0.63	0.32	BAC-PK
BBVA	0.7	0.72	0.79	0.18	0.66	0.68	0.63		-0.12	BBVA
C	-0.16	0.09	0.06	0.74	0.13	0.27	0.32	-0.12		C
	ING	HSBC	SAN	UBS	MUFG	BCS	BAC-PK	BBVA	C

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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

SAN	+ 0.98	HSBC
BCS	+ 0.95	HSBC
BCS	+ 0.94	SAN
SAN	+ 0.92	ING
HSBC	+ 0.9	ING
MUFG	+ 0.88	SAN

High negative correlations

C	- 0.16	ING
C	- 0.12	BBVA

Risk-Adjusted Indicators

There is a big difference between Natwest Stock performing well and Natwest Group 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 Natwest Group'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
ING	1.21	0.44	0.32	0.59	0.94	(1.35)	3.38	(2.21)	9.18
HSBC	0.94	0.36	0.25	0.44	1.08	(0.98)	2.59	(2.11)	7.68
SAN	1.68	0.61	0.30	0.47	1.53	(2.11)	4.24	(2.75)	15.03
UBS	1.41	0.12	0.05	0.05	2.19	(1.47)	3.11	(3.33)	11.01
MUFG	1.32	0.38	0.27	0.40	1.11	(1.51)	3.72	(2.30)	7.42
BCS	1.84	0.37	0.15	0.20	2.10	(2.17)	4.50	(3.41)	14.95
BAC-PK	0.30	0.03	0.26	13.84	0.24	(0.35)	0.66	(0.52)	2.07
BBVA	1.55	0.61	0.42	(3.39)	1.09	(1.88)	4.05	(2.37)	8.81
C	1.39	0.13	0.05	0.03	2.10	(1.29)	2.45	(3.48)	12.74

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