Correlation Analysis Between Byline Bancorp and Esquire Financial

This module allows you to analyze existing cross correlation between Byline Bancorp and Esquire Financial Holdings. You can compare the effects of market volatilities on Byline Bancorp and Esquire Financial 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 Esquire Financial. See also your portfolio center. Please also check ongoing floating volatility patterns of Byline Bancorp and Esquire Financial.
Horizon     30 Days    Login   to change
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Comparative Performance

Byline Bancorp  
00

Risk-Adjusted Performance

Over the last 30 days Byline Bancorp has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, Byline Bancorp is not utilizing all of its potentials. The continuing stock price disturbance, may contribute to short term losses for the investors.
Esquire Financial  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Esquire Financial Holdings are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Inspite very unfluctuating forward-looking indicators, Esquire Financial is not utilizing all of its potentials. The current stock price disarray, may contribute to short term momentum losses for the insiders.

Byline Bancorp and Esquire Financial Volatility Contrast

 Predicted Return Density 
      Returns 

Byline Bancorp Inc  vs.  Esquire Financial Holdings Inc

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Byline Bancorp is expected to generate 13.15 times less return on investment than Esquire Financial. But when comparing it to its historical volatility, Byline Bancorp is 1.36 times less risky than Esquire Financial. It trades about 0.01 of its potential returns per unit of risk. Esquire Financial Holdings is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  2,376  in Esquire Financial Holdings on November 15, 2019 and sell it today you would earn a total of  137.00  from holding Esquire Financial Holdings or generate 5.77% return on investment over 30 days.

Pair Corralation between Byline Bancorp and Esquire Financial

0.17
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Byline Bancorp and Esquire Financial

Byline Bancorp Inc diversification synergy

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding Byline Bancorp Inc and Esquire Financial Holdings Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Esquire Financial 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 Esquire Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Esquire Financial has no effect on the direction of Byline Bancorp i.e. Byline Bancorp and Esquire Financial go up and down completely randomly.
See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.


 
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