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Correlation Between Byline Bancorp and Bridgewater Bancshares

Analyzing existing cross correlation between Byline Bancorp and Bridgewater Bancshares. You can compare the effects of market volatilities on Byline Bancorp and Bridgewater Bancshares and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Byline Bancorp with a short position of Bridgewater Bancshares. Check out your portfolio center. Please also check ongoing floating volatility patterns of Byline Bancorp and Bridgewater Bancshares.

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Diversification Opportunities for Byline Bancorp and Bridgewater Bancshares

Byline Bancorp Inc diversification synergy
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Pay attention - limited upside

The 3 months correlation between Byline and Bridgewater is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Byline Bancorp Inc and Bridgewater Bancshares Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bridgewater Bancshares and Byline Bancorp is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Byline Bancorp are associated (or correlated) with Bridgewater Bancshares. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bridgewater Bancshares has no effect on the direction of Byline Bancorp i.e. Byline Bancorp and Bridgewater Bancshares go up and down completely randomly.

Pair Corralation between Byline Bancorp and Bridgewater Bancshares

If you would invest  1,825  in Byline Bancorp on January 25, 2020 and sell it today you would earn a total of  121.00  from holding Byline Bancorp or generate 6.63% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy1.67%
ValuesDaily Returns

Byline Bancorp Inc  vs.  Bridgewater Bancshares Inc

 Performance (%) 
    
  Timeline 
Byline Bancorp 
66

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Byline Bancorp are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days. Inspite fairly abnormal basic indicators, Byline Bancorp may actually be approaching a critical reversion point that can send shares even higher in March 2020.
Bridgewater Bancshares 
00

Risk-Adjusted Performance

Over the last 30 days Bridgewater Bancshares has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Bridgewater Bancshares is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Byline Bancorp and Bridgewater Bancshares Volatility Contrast

 Predicted Return Density 
    
  Returns 

Byline Bancorp

Pair trading matchups for Byline Bancorp

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