Correlation Analysis Between Coastal Financial and Esquire Financial

Analyzing existing cross correlation between Coastal Financial Corporation and Esquire Financial Holdings. You can compare the effects of market volatilities on Coastal Financial 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 Coastal Financial with a short position of Esquire Financial. See also your portfolio center. Please also check ongoing floating volatility patterns of Coastal Financial and Esquire Financial.
Horizon     30 Days    Login   to change
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Comparative Performance

Coastal Financial  
66

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coastal Financial Corporation are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Coastal Financial may actually be approaching a critical reversion point that can send shares even higher in February 2020.
Esquire Financial  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Esquire Financial Holdings are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Inspite very weak forward-looking indicators, Esquire Financial may actually be approaching a critical reversion point that can send shares even higher in February 2020.

Coastal Financial and Esquire Financial Volatility Contrast

 Predicted Return Density 
    
  Returns 

Coastal Financial Corp.  vs.  Esquire Financial Holdings Inc

 Performance (%) 
    
  Timeline 

Pair Volatility

Considering 30-days investment horizon, Coastal Financial Corporation is expected to generate 0.97 times more return on investment than Esquire Financial. However, Coastal Financial Corporation is 1.03 times less risky than Esquire Financial. It trades about 0.09 of its potential returns per unit of risk. Esquire Financial Holdings is currently generating about 0.08 per unit of risk. If you would invest  1,560  in Coastal Financial Corporation on December 21, 2019 and sell it today you would earn a total of  173.00  from holding Coastal Financial Corporation or generate 11.09% return on investment over 30 days.

Pair Corralation between Coastal Financial and Esquire Financial

-0.14
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy80.52%
ValuesDaily Returns

Diversification Opportunities for Coastal Financial and Esquire Financial

Coastal Financial Corp. diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coastal Financial Corp. 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 Coastal Financial 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 Coastal Financial Corporation 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 Coastal Financial i.e. Coastal Financial and Esquire Financial go up and down completely randomly.
See also your portfolio center. Please also try Focused Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.