Provident Financial Correlations

PROV Stock

USD 15.91 0.22 1.36%

The current 90-days correlation between Provident Financial and Cullman Bancorp is 0.15 (i.e., Average diversification). The correlation of Provident Financial 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Provident Financial Correlation With Market

Good diversification

The correlation between Provident Financial Holdings and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Provident Financial Holdings 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 Provident Financial Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Provident Stock

0.79	AX	Axos Financial	Pair Corr
0.83	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.77	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.69	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.8	VBFC	Village Bank	Pair Corr
0.8	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.8	TECTP	Tectonic Financial	Pair Corr
0.82	EBTC	Enterprise Bancorp	Pair Corr
0.73	ECBK	ECB Bancorp	Pair Corr
0.86	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.87	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.79	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.89	BANC-PF	Banc of California	Pair Corr
0.74	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.74	ESSA	ESSA Bancorp	Pair Corr
0.88	EVBN	Evans Bancorp	Pair Corr
0.84	EWBC	East West Bancorp Fiscal Year End 28th of January 2025	Pair Corr
0.89	WSBCP	WesBanco	Pair Corr
0.82	WNEB	Western New England Fiscal Year End 28th of January 2025	Pair Corr

Moving against Provident Stock

0.87	CFG-PE	Citizens Financial	Pair Corr
0.81	TFC-PR	Truist Financial	Pair Corr
0.78	TFC-PO	Truist Financial	Pair Corr
0.64	WF	Woori Financial Group	Pair Corr
0.47	NU	Nu Holdings	Pair Corr
0.45	KEY-PI	KeyCorp	Pair Corr
0.85	WAFDP	Washington Federal	Pair Corr
0.79	FRCIL	First Republic Bank	Pair Corr
0.69	SBNYL	Signature Bank	Pair Corr
0.68	FRCCL	First Republic Bank	Pair Corr
0.68	FRCHL	First Republic Bank	Pair Corr
0.67	FRCKL	First Republic Bank	Pair Corr
0.67	FRCML	First Republic Bank	Pair Corr
0.62	FRCLL	First Republic Bank	Pair Corr

Related Correlations Analysis

	CULL	HFBL	HMNF	MGYR	NWYF	CWBC	FNWB	OFED	FBIZ	OPOF
CULL		0.0	-0.5	-0.42	-0.17	-0.11	0.03	0.36	-0.14	-0.51	CULL
HFBL	0.0		0.01	0.21	0.33	-0.01	-0.03	-0.05	-0.02	0.2	HFBL
HMNF	-0.5	0.01		0.55	0.42	0.23	-0.09	-0.34	0.29	0.61	HMNF
MGYR	-0.42	0.21	0.55		0.68	0.72	0.29	-0.78	0.58	0.94	MGYR
NWYF	-0.17	0.33	0.42	0.68		0.34	0.06	-0.32	0.2	0.61	NWYF
CWBC	-0.11	-0.01	0.23	0.72	0.34		0.66	-0.86	0.93	0.63	CWBC
FNWB	0.03	-0.03	-0.09	0.29	0.06	0.66		-0.36	0.57	0.13	FNWB
OFED	0.36	-0.05	-0.34	-0.78	-0.32	-0.86	-0.36		-0.8	-0.77	OFED
FBIZ	-0.14	-0.02	0.29	0.58	0.2	0.93	0.57	-0.8		0.53	FBIZ
OPOF	-0.51	0.2	0.61	0.94	0.61	0.63	0.13	-0.77	0.53		OPOF
	CULL	HFBL	HMNF	MGYR	NWYF	CWBC	FNWB	OFED	FBIZ	OPOF

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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

OPOF	+ 0.94	MGYR
FBIZ	+ 0.93	CWBC
CWBC	+ 0.72	MGYR
NWYF	+ 0.68	MGYR
FNWB	+ 0.66	CWBC
OPOF	+ 0.63	CWBC

High negative correlations

OFED	- 0.86	CWBC
FBIZ	- 0.8	OFED
OFED	- 0.78	MGYR
OPOF	- 0.77	OFED
OPOF	- 0.51	CULL
HMNF	- 0.5	CULL

Risk-Adjusted Indicators

There is a big difference between Provident Stock performing well and Provident Financial 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 Provident Financial'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
CULL	0.51	(0.12)	0.00	(1.52)	0.00	0.00	1.18	(1.64)	4.73
HFBL	1.65	0.04	0.01	0.41	2.47	(2.52)	4.70	(4.49)	17.43
HMNF	1.88	0.39	0.16	(20.38)	1.85	(2.37)	4.29	(3.19)	13.15
MGYR	1.05	0.26	0.18	4.91	0.93	(1.36)	2.61	(2.25)	10.51
NWYF	1.82	0.10	0.02	(0.23)	2.03	(3.86)	5.50	(4.94)	13.65
CWBC	1.01	0.02	0.00	0.08	1.28	(1.11)	2.53	(2.16)	11.26
FNWB	1.52	(0.03)	0.00	(0.05)	0.00	0.00	3.17	(2.82)	14.21
OFED	2.13	(0.25)	0.00	(0.84)	0.00	0.00	3.48	(5.28)	12.66
FBIZ	1.76	0.10	0.04	(3.37)	2.01	(2.04)	3.90	(3.66)	19.08
OPOF	1.21	0.50	0.24	14.40	1.28	(1.40)	3.39	(1.47)	11.44

Provident Financial Corporate Executives

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

	Tamhao Nguyen	CFO VP	Profile
	Tam Nguyen	CFO VP	Profile

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