US Bancorp Correlations

USB Stock

USD 42.68 0.40 0.95%

The current 90-days correlation between US Bancorp and PNC Financial Services is 0.84 (i.e., Very poor diversification). The correlation of US Bancorp 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.

US Bancorp Correlation With Market

Poor diversification

The correlation between US Bancorp and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding US 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 US 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.

For information on how to trade USB Stock refer to our How to Trade USB Stock guide.

Moving together with USB Stock

0.87	AX	Axos Financial	Pair Corr
0.75	BY	Byline Bancorp	Pair Corr
0.72	KB	KB Financial Group	Pair Corr
0.78	PB	Prosperity Bancshares	Pair Corr
0.92	RF	Regions Financial	Pair Corr
0.92	VBNK	VersaBank	Pair Corr
0.79	VBTX	Veritex Holdings	Pair Corr
0.85	EGBN	Eagle Bancorp	Pair Corr
0.74	WAFD	Washington Federal	Pair Corr
0.63	WASH	Washington Trust Bancorp	Pair Corr
0.77	EQBK	Equity Bancshares,	Pair Corr
0.75	WAFDP	Washington Federal	Pair Corr
0.84	EVBN	Evans Bancorp	Pair Corr
0.86	EWBC	East West Bancorp	Pair Corr
0.79	WMPN	William Penn Bancorp	Pair Corr

Moving against USB Stock

0.75	VBFC	Village Bank	Pair Corr
0.73	TECTP	Tectonic Financial	Pair Corr
0.47	KEY-PI	KeyCorp	Pair Corr
0.46	EBMT	Eagle Bancorp Montana	Pair Corr
0.68	OCFCP	OceanFirst Financial Corp	Pair Corr
0.58	BANFP	BFC Capital Trust	Pair Corr
0.55	BANC-PF	Banc of California	Pair Corr
0.55	WSBCP	WesBanco	Pair Corr
0.33	KEY-PL	KeyCorp	Pair Corr

Related Correlations Analysis

	PNC	KEY	ZION	FITB	TFC	MTB	HBAN	CMA	WAL	PACW
PNC		0.96	0.98	0.95	0.83	0.96	0.99	0.83	0.86	0.0	PNC
KEY	0.96		0.96	0.95	0.81	0.96	0.96	0.88	0.88	0.0	KEY
ZION	0.98	0.96		0.95	0.85	0.97	0.99	0.85	0.91	0.0	ZION
FITB	0.95	0.95	0.95		0.87	0.97	0.96	0.87	0.93	0.0	FITB
TFC	0.83	0.81	0.85	0.87		0.89	0.85	0.9	0.91	0.0	TFC
MTB	0.96	0.96	0.97	0.97	0.89		0.97	0.91	0.91	0.0	MTB
HBAN	0.99	0.96	0.99	0.96	0.85	0.97		0.85	0.89	0.0	HBAN
CMA	0.83	0.88	0.85	0.87	0.9	0.91	0.85		0.85	0.0	CMA
WAL	0.86	0.88	0.91	0.93	0.91	0.91	0.89	0.85		0.0	WAL
PACW	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		PACW
	PNC	KEY	ZION	FITB	TFC	MTB	HBAN	CMA	WAL	PACW

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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

HBAN	+ 0.99	PNC
HBAN	+ 0.99	ZION
ZION	+ 0.98	PNC
MTB	+ 0.97	ZION
MTB	+ 0.97	FITB
HBAN	+ 0.97	MTB

High negative correlations

PACW	- 0.0	WAL
PACW	- 0.0	CMA
PACW	- 0.0	HBAN
PACW	- 0.0	MTB
PACW	- 0.0	TFC
PACW	- 0.0	FITB

Risk-Adjusted Indicators

There is a big difference between USB Stock performing well and US Bancorp 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 US Bancorp'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PNC	1.07	(0.13)	(0.22)	1.81	(2.87)	8.03
KEY	1.40	(0.10)	(0.18)	2.72	(3.60)	7.45
ZION	1.46	(0.14)	(0.20)	2.50	(3.08)	9.75
FITB	1.17	(0.16)	(0.26)	2.47	(2.83)	6.08
TFC	1.21	(0.07)	(0.16)	1.89	(2.67)	10.25
MTB	1.10	(0.15)	(0.26)	2.03	(2.67)	6.97
HBAN	1.20	(0.10)	(0.19)	2.31	(2.52)	6.86
CMA	1.41	(0.07)	(0.16)	2.84	(3.75)	9.01
WAL	1.93	(0.10)	(0.16)	3.32	(3.97)	11.16
PACW	0.00	0.00	0.00	0.00	0.00	0.00

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