Old National Correlations

ONB Stock

USD 21.20 0.17 0.80%

The current 90-days correlation between Old National Bancorp and UMB Financial is 0.81 (i.e., Very poor diversification). The correlation of Old National 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.

Old National Correlation With Market

Poor diversification

The correlation between Old National Bancorp and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Old National Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Old National 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 board of governors.

Moving together with Old Stock

0.7	BY	Byline Bancorp	Pair Corr
0.75	NU	Nu Holdings	Pair Corr
0.83	PB	Prosperity Bancshares	Pair Corr
0.69	RF	Regions Financial	Pair Corr
0.64	TFC-PI	Truist Financial	Pair Corr
0.95	EBTC	Enterprise Bancorp	Pair Corr
0.91	EFSC	Enterprise Financial	Pair Corr
0.82	WASH	Washington Trust Bancorp	Pair Corr
0.76	EQBK	Equity Bancshares,	Pair Corr
0.94	ESSA	ESSA Bancorp	Pair Corr
0.62	EVBN	Evans Bancorp	Pair Corr
0.78	WMPN	William Penn Bancorp	Pair Corr

Moving against Old Stock

0.41

ECBK

ECB Bancorp

Pair Corr

Related Correlations Analysis

	IBCP	FFBC	LKFN	NBHC	FFNW	WABC	WTFCP	FNWD	UMBF
IBCP		0.96	0.93	0.92	0.15	0.48	-0.59	-0.16	0.88	IBCP
FFBC	0.96		0.88	0.9	0.09	0.42	-0.47	-0.3	0.86	FFBC
LKFN	0.93	0.88		0.95	0.1	0.55	-0.75	-0.02	0.89	LKFN
NBHC	0.92	0.9	0.95		0.13	0.57	-0.72	-0.02	0.88	NBHC
FFNW	0.15	0.09	0.1	0.13		0.38	0.0	0.34	0.09	FFNW
WABC	0.48	0.42	0.55	0.57	0.38		-0.51	0.55	0.51	WABC
WTFCP	-0.59	-0.47	-0.75	-0.72	0.0	-0.51		-0.39	-0.63	WTFCP
FNWD	-0.16	-0.3	-0.02	-0.02	0.34	0.55	-0.39		-0.13	FNWD
UMBF	0.88	0.86	0.89	0.88	0.09	0.51	-0.63	-0.13		UMBF
	IBCP	FFBC	LKFN	NBHC	FFNW	WABC	WTFCP	FNWD	UMBF

Click cells to compare fundamentals

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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

FFBC	+ 0.96	IBCP
NBHC	+ 0.95	LKFN
LKFN	+ 0.93	IBCP
NBHC	+ 0.92	IBCP
NBHC	+ 0.9	FFBC
UMBF	+ 0.89	LKFN

High negative correlations

WTFCP	- 0.75	LKFN
WTFCP	- 0.72	NBHC
UMBF	- 0.63	WTFCP
WTFCP	- 0.59	IBCP
WTFCP	- 0.51	WABC
WTFCP	- 0.47	FFBC

Risk-Adjusted Indicators

There is a big difference between Old Stock performing well and Old National 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 Old National'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
IBCP	1.26	(0.21)	0.00	(0.26)	0.00	0.00	2.35	(3.04)	7.48
FFBC	1.18	(0.15)	0.00	(0.21)	0.00	0.00	2.00	(2.90)	8.75
LKFN	1.06	(0.23)	0.00	(0.43)	0.00	0.00	1.81	(2.77)	7.19
NBHC	1.13	(0.19)	0.00	(0.28)	0.00	0.00	1.77	(3.03)	6.80
FFNW	0.98	0.05	0.10	(4.29)	1.01	(1.14)	1.17	(1.77)	16.29
WABC	1.15	(0.07)	0.00	(0.15)	0.00	0.00	2.31	(2.97)	6.49
WTFCP	0.09	0.02	0.83	(5.95)	0.00	(0.13)	0.20	(0.08)	0.80
FNWD	1.05	(0.09)	0.00	(0.46)	0.00	0.00	2.12	(1.97)	8.51
UMBF	1.31	(0.17)	0.00	(0.21)	0.00	0.00	2.51	(3.79)	7.88

Old National Corporate Management

Jeffrey Knight	Chief Legal Counsel, Executive VP and Corporate Secretary	Profile
Scott Evernham	Chief Officer	Profile
Corliss Garner	Equity Diversity	Profile
Kathy Schoettlin	Culture Communications	Profile

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