Washington Trust Correlations

WASH Stock

USD 31.76 0.19 0.59%

The current 90-days correlation between Washington Trust Bancorp and Univest Pennsylvania is 0.82 (i.e., Very poor diversification). The correlation of Washington Trust 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.

Washington Trust Correlation With Market

Very weak diversification

The correlation between Washington Trust Bancorp and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Washington Trust Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Washington Trust 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 Washington Stock

0.69	BY	Byline Bancorp	Pair Corr
0.78	NU	Nu Holdings	Pair Corr
0.81	PB	Prosperity Bancshares	Pair Corr
0.62	RF	Regions Financial Normal Trading	Pair Corr
0.83	EBTC	Enterprise Bancorp	Pair Corr
0.82	EFSC	Enterprise Financial	Pair Corr
0.81	EQBK	Equity Bancshares,	Pair Corr
0.77	ESSA	ESSA Bancorp	Pair Corr
0.63	EVBN	Evans Bancorp	Pair Corr
0.7	WMPN	William Penn Bancorp	Pair Corr

Moving against Washington Stock

0.38	ECBK	ECB Bancorp	Pair Corr
0.31	VBFC	Village Bank	Pair Corr

Related Correlations Analysis

	UVSP	WSBF	MPB	STBA	RBCAA	CPF	WMPN	PKBK	NBHC	INDB
UVSP		0.6	0.81	0.75	0.35	0.93	0.85	0.6	0.65	0.95	UVSP
WSBF	0.6		0.22	0.82	-0.01	0.51	0.3	0.13	-0.03	0.65	WSBF
MPB	0.81	0.22		0.43	0.56	0.8	0.99	0.84	0.89	0.74	MPB
STBA	0.75	0.82	0.43		0.24	0.78	0.49	0.39	0.27	0.77	STBA
RBCAA	0.35	-0.01	0.56	0.24		0.42	0.49	0.84	0.7	0.26	RBCAA
CPF	0.93	0.51	0.8	0.78	0.42		0.82	0.67	0.7	0.89	CPF
WMPN	0.85	0.3	0.99	0.49	0.49	0.82		0.8	0.86	0.79	WMPN
PKBK	0.6	0.13	0.84	0.39	0.84	0.67	0.8		0.84	0.51	PKBK
NBHC	0.65	-0.03	0.89	0.27	0.7	0.7	0.86	0.84		0.58	NBHC
INDB	0.95	0.65	0.74	0.77	0.26	0.89	0.79	0.51	0.58		INDB
	UVSP	WSBF	MPB	STBA	RBCAA	CPF	WMPN	PKBK	NBHC	INDB

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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

WMPN	+ 0.99	MPB
INDB	+ 0.95	UVSP
CPF	+ 0.93	UVSP
NBHC	+ 0.89	MPB
INDB	+ 0.89	CPF
NBHC	+ 0.86	WMPN

High negative correlations

NBHC	- 0.03	WSBF
RBCAA	- 0.01	WSBF

Risk-Adjusted Indicators

There is a big difference between Washington Stock performing well and Washington Trust 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 Trust'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
UVSP	1.24	(0.08)	(0.06)	2.50	(3.19)	6.94
WSBF	1.37	(0.12)	(0.15)	2.23	(3.48)	11.71
MPB	1.25	(0.24)	(0.21)	2.10	(3.08)	7.48
STBA	1.25	(0.15)	(0.15)	2.46	(3.50)	7.27
RBCAA	1.31	(0.21)	(0.20)	2.24	(2.78)	7.67
CPF	1.37	(0.14)	(0.12)	2.99	(3.14)	8.30
WMPN	1.22	(0.23)	(0.23)	2.11	(3.26)	7.70
PKBK	1.17	(0.24)	(0.33)	1.90	(2.62)	4.84
NBHC	1.12	(0.21)	(0.21)	2.03	(3.03)	6.80
INDB	1.30	(0.08)	(0.06)	3.30	(3.27)	9.25

Washington Trust Corporate Management

Mark Gim	Executive VP of Wealth Management, Treasurer, Executive VP of Wealth Management - Washington Trust Company and Treasurer of Washington Trust Company	Profile
Maria CPA	Chief VP	Profile
CPA CPA	Chief VP	Profile
Edward III	Chairman CEO	Profile
Sharon Walsh	Senior Communications	Profile
Ronald CPA	CFO EVP	Profile

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