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Correlation Between Coastal Financial and FSB Bancorp

Analyzing existing cross correlation between Coastal Financial Corporation and FSB Bancorp. You can compare the effects of market volatilities on Coastal Financial 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 Coastal Financial with a short position of FSB Bancorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Coastal Financial and FSB Bancorp.

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Diversification Opportunities for Coastal Financial and FSB Bancorp

Coastal Financial Corp. diversification synergy
0.22
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<div class='circular--portrait-small' style='background:#FF9E01;color: white;font-size:1.1em;padding-top: 12px;;'>FSB</div>

Modest diversification

The 3 months correlation between Coastal and FSBC is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Coastal Financial Corp. and FSB Bancorp Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on FSB Bancorp 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 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 Coastal Financial i.e. Coastal Financial and FSB Bancorp go up and down completely randomly.

Pair Corralation between Coastal Financial and FSB Bancorp

Considering 30-days investment horizon, Coastal Financial is expected to generate 1.5 times less return on investment than FSB Bancorp. In addition to that, Coastal Financial is 3.1 times more volatile than FSB Bancorp. It trades about 0.02 of its total potential returns per unit of risk. FSB Bancorp is currently generating about 0.07 per unit of volatility. If you would invest  1,686  in FSB Bancorp on January 24, 2020 and sell it today you would earn a total of  44.00  from holding FSB Bancorp or generate 2.61% return on investment over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Weak
Accuracy83.1%
ValuesDaily Returns

Coastal Financial Corp.  vs.  FSB Bancorp Inc

 Performance (%) 
    
  Timeline 
Coastal Financial 
11

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coastal Financial Corporation are ranked lower than 1 (%) 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.
FSB Bancorp 
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in FSB Bancorp are ranked lower than 4 (%) 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.

Coastal Financial and FSB Bancorp Volatility Contrast

 Predicted Return Density 
    
  Returns 
Check out your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.