Correlation Analysis Between Byline Bancorp and Luther Burbank

Analyzing existing cross correlation between Byline Bancorp and Luther Burbank Corporation. You can compare the effects of market volatilities on Byline Bancorp and Luther Burbank 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 Luther Burbank. See also your portfolio center. Please also check ongoing floating volatility patterns of Byline Bancorp and Luther Burbank.
Horizon     30 Days    Login   to change
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Comparative Performance

Byline Bancorp  
1414

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Byline Bancorp are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days. Inspite fairly abnormal basic indicators, Byline Bancorp showed solid returns over the last few months and may actually be approaching a breakup point.
Luther Burbank  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Luther Burbank Corporation are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Despite somewhat strong basic indicators, Luther Burbank is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Byline Bancorp and Luther Burbank Volatility Contrast

 Predicted Return Density 
    
  Returns 

Byline Bancorp Inc  vs.  Luther Burbank Corp.

 Performance (%) 
    
  Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Byline Bancorp is expected to generate 0.83 times more return on investment than Luther Burbank. However, Byline Bancorp is 1.2 times less risky than Luther Burbank. It trades about 0.21 of its potential returns per unit of risk. Luther Burbank Corporation is currently generating about 0.07 per unit of risk. If you would invest  1,790  in Byline Bancorp on December 22, 2019 and sell it today you would earn a total of  252.00  from holding Byline Bancorp or generate 14.08% return on investment over 30 days.

Pair Corralation between Byline Bancorp and Luther Burbank

0.3
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy98.39%
ValuesDaily Returns

Diversification Opportunities for Byline Bancorp and Luther Burbank

Byline Bancorp Inc diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Byline Bancorp Inc and Luther Burbank Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Luther Burbank 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 Luther Burbank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Luther Burbank has no effect on the direction of Byline Bancorp i.e. Byline Bancorp and Luther Burbank go up and down completely randomly.
See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.