Shore Bancshares Correlations

SHBI Stock

USD 13.74 0.14 1.01%

The current 90-days correlation between Shore Bancshares and Colony Bankcorp is 0.1 (i.e., Average diversification). The correlation of Shore Bancshares 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.

Shore Bancshares Correlation With Market

Good diversification

The correlation between Shore Bancshares and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shore Bancshares 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 Shore Bancshares. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

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

Moving together with Shore Stock

0.84	AX	Axos Financial	Pair Corr
0.93	BY	Byline Bancorp	Pair Corr
0.77	PB	Prosperity Bancshares	Pair Corr
0.84	RF	Regions Financial	Pair Corr
0.88	VBNK	VersaBank	Pair Corr
0.84	VBTX	Veritex Holdings	Pair Corr
0.66	EFSC	Enterprise Financial	Pair Corr
0.88	EGBN	Eagle Bancorp	Pair Corr
0.65	WAFD	Washington Federal	Pair Corr
0.64	WASH	Washington Trust Bancorp	Pair Corr
0.86	EQBK	Equity Bancshares,	Pair Corr
0.8	TFINP	Triumph Financial	Pair Corr
0.9	EVBN	Evans Bancorp	Pair Corr
0.89	WMPN	William Penn Bancorp	Pair Corr

Moving against Shore Stock

0.78	VBFC	Village Bank	Pair Corr
0.71	DB	Deutsche Bank AG	Pair Corr
0.54	TECTP	Tectonic Financial	Pair Corr
0.48	KEY-PI	KeyCorp	Pair Corr
0.36	WSBCP	WesBanco	Pair Corr

Related Correlations Analysis

	OFED	HMNF	HFBL	CIZN	HVBC	IROQ	WNEB	CBAN	ISTR	VABK
OFED		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	OFED
HMNF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	HMNF
HFBL	0.0	0.0		0.0	0.0	0.38	0.18	0.23	-0.52	-0.44	HFBL
CIZN	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CIZN
HVBC	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	HVBC
IROQ	0.0	0.0	0.38	0.0	0.0		0.27	0.38	-0.56	-0.27	IROQ
WNEB	0.0	0.0	0.18	0.0	0.0	0.27		0.81	0.17	0.51	WNEB
CBAN	0.0	0.0	0.23	0.0	0.0	0.38	0.81		0.01	0.39	CBAN
ISTR	0.0	0.0	-0.52	0.0	0.0	-0.56	0.17	0.01		0.71	ISTR
VABK	0.0	0.0	-0.44	0.0	0.0	-0.27	0.51	0.39	0.71		VABK
	OFED	HMNF	HFBL	CIZN	HVBC	IROQ	WNEB	CBAN	ISTR	VABK

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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

CBAN	+ 0.81	WNEB
VABK	+ 0.71	ISTR
VABK	+ 0.51	WNEB
VABK	+ 0.39	CBAN
IROQ	+ 0.38	HFBL
CBAN	+ 0.38	IROQ

High negative correlations

ISTR	- 0.56	IROQ
ISTR	- 0.52	HFBL
VABK	- 0.44	HFBL
VABK	- 0.27	IROQ
VABK	- 0.0	HVBC
ISTR	- 0.0	HVBC

Risk-Adjusted Indicators

There is a big difference between Shore Stock performing well and Shore Bancshares 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 Shore Bancshares' 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
OFED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HMNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HFBL	1.56	0.11	0.06	0.34	2.04	(2.09)	5.67	(4.53)	13.32
CIZN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HVBC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IROQ	1.31	0.03	0.05	0.07	1.77	(1.52)	2.87	(3.42)	10.54
WNEB	1.03	(0.08)	0.00	(0.20)	0.00	0.00	2.44	(2.86)	8.20
CBAN	1.20	(0.01)	0.00	(0.08)	0.00	0.00	2.59	(2.20)	10.65
ISTR	1.36	(0.43)	0.00	4.05	0.00	0.00	1.97	(3.28)	7.38
VABK	1.32	(0.17)	0.00	(0.31)	0.00	0.00	2.79	(3.47)	7.70

Shore Bancshares Corporate Management

David Morse	General Counsel and Secretary	Profile
Andrea Colender	Chief VP	Profile
Christa Heron	Ex Officer	Profile
Brian Ebron	Executive Officer	Profile

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