Washington Federal Correlations
| WAFDP Preferred Stock | USD 16.59 0.04 0.24% |
The current 90-days correlation between Washington Federal and Fulton Financial is -0.06 (i.e., Good diversification). The correlation of Washington Federal 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.
Washington Federal Correlation With Market
Modest diversification
The correlation between Washington Federal and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Washington Federal and DJI in the same portfolio, assuming nothing else is changed.
Washington |
The ability to find closely correlated positions to Washington Federal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Washington Federal when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Washington Federal - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Washington Federal to buy it.
Moving together with Washington Preferred Stock
| 0.78 | AX | Axos Financial | PairCorr |
| 0.62 | VABK | Virginia National | PairCorr |
| 0.63 | VBNK | VersaBank | PairCorr |
| 0.75 | VBTX | Veritex Holdings | PairCorr |
| 0.72 | EGBN | Eagle Bancorp | PairCorr |
| 0.67 | WABC | Westamerica Bancorporation | PairCorr |
| 0.86 | WAFD | Washington Federal | PairCorr |
| 0.67 | EVBN | Evans Bancorp | PairCorr |
Moving against Washington Preferred Stock
| 0.73 | VBFC | Village Bank | PairCorr |
| 0.73 | TECTP | Tectonic Financial | PairCorr |
| 0.7 | DB | Deutsche Bank AG | PairCorr |
| 0.47 | TFC-PO | Truist Financial | PairCorr |
| 0.4 | WF | Woori Financial Group | PairCorr |
| 0.39 | TFC-PR | Truist Financial | PairCorr |
| 0.38 | EBMT | Eagle Bancorp Montana | PairCorr |
| 0.76 | OCFCP | OceanFirst Financial Corp | PairCorr |
| 0.69 | WSBCP | WesBanco | PairCorr |
| 0.66 | BANFP | BFC Capital Trust | PairCorr |
| 0.63 | BANC-PF | Banc of California | PairCorr |
| 0.55 | KEY-PI | KeyCorp | PairCorr |
| 0.44 | KEY-PL | KeyCorp | PairCorr |
Related Correlations Analysis
| -0.02 | 0.04 | 0.22 | 0.22 | FULTP | ||
| -0.02 | 0.53 | 0.69 | -0.08 | TCBIO | ||
| 0.04 | 0.53 | 0.37 | 0.32 | HBANP | ||
| 0.22 | 0.69 | 0.37 | 0.03 | WTFCP | ||
| 0.22 | -0.08 | 0.32 | 0.03 | FCNCP | ||
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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 Washington Preferred Stock performing well and Washington Federal 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 Washington Federal'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FULTP | 0.67 | (0.02) | 0.00 | (0.27) | 0.00 | 1.56 | 4.15 | |||
| TCBIO | 0.73 | 0.06 | 0.12 | 0.17 | 0.77 | 1.68 | 4.92 | |||
| HBANP | 0.88 | 0.05 | 0.11 | (0.94) | 1.02 | 2.01 | 6.49 | |||
| WTFCP | 0.09 | 0.02 | 0.83 | (5.95) | 0.00 | 0.20 | 0.80 | |||
| FCNCP | 0.93 | 0.08 | 0.12 | (0.90) | 1.07 | 3.06 | 6.41 |
Be your own money manager
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Washington Federal Corporate Management
| Kim Robison | Ex COO | Profile | |
| James Endrizzi | Ex Banker | Profile | |
| Cathy Cooper | Chief VP | Profile | |
| Jim Motz | Chief VP | Profile | |
| Brent CPA | CEO Pres | Profile | |
| Lisa King | VP HR | Profile | |
| Brad Goode | Marketing Communications | Profile |