Sandy Spring Correlations

SASR Stock

USD 31.58 0.14 0.44%

The current 90-days correlation between Sandy Spring Bancorp and Provident Financial Services is 0.81 (i.e., Very poor diversification). The correlation of Sandy Spring 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.

Sandy Spring Correlation With Market

Very weak diversification

The correlation between Sandy Spring Bancorp and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sandy Spring Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sandy Spring 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 state.

Moving together with Sandy Stock

0.96	AX	Axos Financial	Pair Corr
0.93	BY	Byline Bancorp	Pair Corr
0.7	KB	KB Financial Group	Pair Corr
0.84	PB	Prosperity Bancshares	Pair Corr
0.92	RF	Regions Financial	Pair Corr
0.91	VABK	Virginia National	Pair Corr
0.91	VBNK	VersaBank Earnings Call This Week	Pair Corr
0.9	VBTX	Veritex Holdings	Pair Corr
0.72	TFC-PI	Truist Financial	Pair Corr
0.94	EGBN	Eagle Bancorp	Pair Corr
0.73	KEY-PJ	KeyCorp	Pair Corr
0.83	KEY-PK	KeyCorp	Pair Corr
0.94	WABC	Westamerica Bancorporation	Pair Corr
0.86	WAFD	Washington Federal	Pair Corr
0.93	WASH	Washington Trust Bancorp	Pair Corr
0.95	EQBK	Equity Bancshares,	Pair Corr
0.66	WAFDP	Washington Federal	Pair Corr
0.72	EVBN	Evans Bancorp	Pair Corr
0.87	WMPN	William Penn Bancorp	Pair Corr

Moving against Sandy Stock

0.85	VBFC	Village Bank	Pair Corr
0.52	TECTP	Tectonic Financial	Pair Corr
0.49	DB	Deutsche Bank AG Normal Trading	Pair Corr
0.36	EBTC	Enterprise Bancorp	Pair Corr
0.67	EFSI	Eagle Financial Services	Pair Corr
0.46	WSBCP	WesBanco	Pair Corr

Related Correlations Analysis

	NRIM	PFS	CTBI	FIBK	BWFG	SHBI	BY	CVBF	PEBO	FRST
NRIM		0.47	0.75	0.64	0.74	0.76	0.74	0.34	0.77	0.26	NRIM
PFS	0.47		0.88	0.89	0.76	0.7	0.87	0.91	0.87	0.85	PFS
CTBI	0.75	0.88		0.88	0.92	0.85	0.97	0.79	0.96	0.73	CTBI
FIBK	0.64	0.89	0.88		0.84	0.82	0.91	0.86	0.89	0.78	FIBK
BWFG	0.74	0.76	0.92	0.84		0.82	0.94	0.77	0.91	0.68	BWFG
SHBI	0.76	0.7	0.85	0.82	0.82		0.87	0.69	0.84	0.68	SHBI
BY	0.74	0.87	0.97	0.91	0.94	0.87		0.84	0.97	0.78	BY
CVBF	0.34	0.91	0.79	0.86	0.77	0.69	0.84		0.8	0.93	CVBF
PEBO	0.77	0.87	0.96	0.89	0.91	0.84	0.97	0.8		0.73	PEBO
FRST	0.26	0.85	0.73	0.78	0.68	0.68	0.78	0.93	0.73		FRST
	NRIM	PFS	CTBI	FIBK	BWFG	SHBI	BY	CVBF	PEBO	FRST

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Risk-Adjusted Indicators

There is a big difference between Sandy Stock performing well and Sandy Spring 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 Sandy Spring'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
NRIM	1.72	0.03	0.01	0.02	2.15	(1.74)	3.84	(3.01)	9.77
PFS	1.34	(0.20)	0.00	(0.23)	0.00	0.00	2.55	(3.00)	8.74
CTBI	1.19	(0.11)	0.00	(0.12)	0.00	0.00	2.34	(2.44)	7.64
FIBK	1.25	(0.11)	0.00	(0.11)	0.00	0.00	2.18	(3.36)	8.59
BWFG	1.49	(0.01)	0.00	(0.01)	0.00	0.00	3.94	(2.86)	9.98
SHBI	1.21	(0.08)	0.00	(0.10)	0.00	0.00	2.37	(3.27)	10.83
BY	1.07	(0.11)	0.00	(0.14)	0.00	0.00	1.95	(2.00)	7.27
CVBF	1.33	(0.16)	0.00	(0.16)	0.00	0.00	2.74	(2.66)	9.06
PEBO	1.04	(0.12)	0.00	(0.14)	0.00	0.00	2.17	(2.58)	7.92
FRST	1.27	(0.20)	0.00	0.97	0.00	0.00	2.04	(2.95)	10.96

Sandy Spring Corporate Management

CPA CPA	Ex CFO	Profile
Ronda McDowell	Chief Credit Officer of the Bank	Profile
Kenneth Cook	Ex Bank	Profile
Charlie Cullum	Deputy Treasurer	Profile
Aaron JD	Executive Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC