Shinhan Financial Correlations
| SHG Stock | USD 33.52 0.94 2.89% |
The correlation of Shinhan 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.
Shinhan Financial Correlation With Market
Average diversification
The correlation between Shinhan Financial Group and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shinhan Financial Group and DJI in the same portfolio, assuming nothing else is changed.
Shinhan |
Moving together with Shinhan Stock
| 0.79 | AX | Axos Financial | PairCorr |
| 0.72 | BY | Byline Bancorp | PairCorr |
| 0.88 | KB | KB Financial Group | PairCorr |
| 0.88 | PB | Prosperity Bancshares | PairCorr |
| 0.89 | RF | Regions Financial | PairCorr |
| 0.78 | VBNK | VersaBank | PairCorr |
| 0.67 | VBTX | Veritex Holdings | PairCorr |
| 0.69 | EFSI | Eagle Financial Services | PairCorr |
| 0.76 | EGBN | Eagle Bancorp | PairCorr |
| 0.7 | WASH | Washington Trust Bancorp | PairCorr |
| 0.81 | EQBK | Equity Bancshares, | PairCorr |
| 0.74 | EVBN | Evans Bancorp | PairCorr |
| 0.93 | EWBC | East West Bancorp | PairCorr |
| 0.81 | WMPN | William Penn Bancorp | PairCorr |
Moving against Shinhan Stock
| 0.65 | VBFC | Village Bank | PairCorr |
| 0.62 | ECBK | ECB Bancorp | PairCorr |
| 0.56 | EBMT | Eagle Bancorp Montana | PairCorr |
| 0.45 | TECTP | Tectonic Financial | PairCorr |
| 0.46 | OCFCP | OceanFirst Financial Corp | PairCorr |
| 0.4 | BANFP | BFC Capital Trust | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Shinhan Stock performing well and Shinhan 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 Shinhan 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HMNF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CWBC | 1.03 | (0.16) | 0.00 | (0.22) | 0.00 | 2.45 | 6.01 | |||
| FFNW | 0.98 | 0.05 | 0.08 | (11.71) | 1.01 | 1.17 | 16.29 | |||
| PDLB | 1.07 | (0.05) | 0.00 | 0.17 | 0.00 | 2.04 | 6.80 | |||
| FINW | 2.08 | (0.07) | 0.00 | (0.15) | 0.00 | 4.46 | 15.63 | |||
| HVBC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MGYR | 1.10 | 0.01 | 0.02 | 0.00 | 1.45 | 2.98 | 6.74 | |||
| OFED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CULL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |