Correlation Analysis Between Coastal Financial and FB Financial

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

Coastal Financial  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coastal Financial Corporation are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Despite somewhat strong basic indicators, Coastal Financial is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
FB Financial  
00

Risk-Adjusted Performance

Over the last 30 days FB Financial Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Regardless of fairly consistent technical and fundamental indicators, FB Financial is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.

Coastal Financial and FB Financial Volatility Contrast

 Predicted Return Density 
      Returns 

Coastal Financial Corp.  vs.  FB Financial Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Coastal Financial Corporation is expected to generate 1.97 times more return on investment than FB Financial. However, Coastal Financial is 1.97 times more volatile than FB Financial Corporation. It trades about 0.04 of its potential returns per unit of risk. FB Financial Corporation is currently generating about 0.0 per unit of risk. If you would invest  1,600  in Coastal Financial Corporation on November 12, 2019 and sell it today you would earn a total of  79.00  from holding Coastal Financial Corporation or generate 4.94% return on investment over 30 days.

Pair Corralation between Coastal Financial and FB Financial

0.65
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy84.0%
ValuesDaily Returns

Diversification Opportunities for Coastal Financial and FB Financial

Coastal Financial Corp. diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coastal Financial Corp. and FB Financial Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on FB 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 FB Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FB Financial has no effect on the direction of Coastal Financial i.e. Coastal Financial and FB Financial go up and down completely randomly.
See also your portfolio center. Please also try Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of macroaxis ideas.


 
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