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Correlation Between Byline Bancorp and FSB Bancorp

Analyzing existing cross correlation between Byline Bancorp and FSB Bancorp. You can compare the effects of market volatilities on Byline Bancorp and FSB Bancorp 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 FSB Bancorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Byline Bancorp and FSB Bancorp.

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Diversification Opportunities for Byline Bancorp and FSB Bancorp

Byline Bancorp Inc diversification synergy
0.59
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<div class='circular--portrait-small' style='background:#FF9E01;color: white;font-size:1.1em;padding-top: 12px;;'>FSB</div>

Very weak diversification

The 3 months correlation between Byline and FSBC is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Byline Bancorp Inc and FSB Bancorp Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on FSB Bancorp 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 FSB Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FSB Bancorp has no effect on the direction of Byline Bancorp i.e. Byline Bancorp and FSB Bancorp go up and down completely randomly.

Pair Corralation between Byline Bancorp and FSB Bancorp

Allowing for the 30-days total investment horizon, Byline Bancorp is expected to generate 1.94 times more return on investment than FSB Bancorp. However, Byline Bancorp is 1.94 times more volatile than FSB Bancorp. It trades about 0.09 of its potential returns per unit of risk. FSB Bancorp is currently generating about 0.07 per unit of risk. 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]
DirectionMoves Together 
StrengthWeak
Accuracy96.67%
ValuesDaily Returns

Byline Bancorp Inc  vs.  FSB Bancorp 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.
FSB Bancorp 
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in FSB Bancorp are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Despite somewhat strong basic indicators, FSB Bancorp is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Byline Bancorp and FSB Bancorp Volatility Contrast

 Predicted Return Density 
    
  Returns 

Byline Bancorp

Pair trading matchups for Byline Bancorp

FSB Bancorp

Pair trading matchups for FSB Bancorp

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