Webster Financial Correlations

WBS-PF Preferred Stock  USD 20.32  0.09  0.44%   
The current 90-days correlation between Webster Financial and Associated Banc Corp is 0.41 (i.e., Very weak diversification). The correlation of Webster 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.

Webster Financial Correlation With Market

Weak diversification

The correlation between Webster Financial and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Webster Financial and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Webster Financial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Webster Financial 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 Webster Financial - 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 Webster Financial to buy it.

Moving together with Webster Preferred Stock

  0.63AX Axos FinancialPairCorr
  0.81BY Byline BancorpPairCorr
  0.68PB Prosperity BancsharesPairCorr
  0.65RF Regions FinancialPairCorr
  0.7WF Woori Financial GroupPairCorr
  0.68VABK Virginia NationalPairCorr
  0.71VBTX Veritex HoldingsPairCorr
  0.91TFC-PI Truist FinancialPairCorr
  0.68TFC-PO Truist FinancialPairCorr
  0.75EBMT Eagle Bancorp MontanaPairCorr
  0.73CFG-PE Citizens FinancialPairCorr
  0.68EFSC Enterprise FinancialPairCorr
  0.84KEY-PJ KeyCorpPairCorr
  0.84KEY-PK KeyCorpPairCorr
  0.63WABC Westamerica BancorporationPairCorr
  0.77WASH Washington Trust BancorpPairCorr
  0.79EQBK Equity Bancshares,PairCorr
  0.64EVBN Evans BancorpPairCorr
  0.82WMPN William Penn BancorpPairCorr
  0.7WNEB Western New EnglandPairCorr

Moving against Webster Preferred Stock

  0.82EFSI Eagle Financial ServicesPairCorr
  0.56VBFC Village BankPairCorr

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   
KEY-PKKEY-PJ
ASB-PEKEY-PJ
KEY-PKASB-PE
SNV-PDKEY-PJ
KEY-PKSNV-PD
  
High negative correlations   
SNV-PDASB-PE

Risk-Adjusted Indicators

There is a big difference between Webster Preferred Stock performing well and Webster 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 Webster 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Webster Financial without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Webster Financial Corporate Management