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Correlation Between Esquire Financial and Byline Bancorp

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

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Diversification Opportunities for Esquire Financial and Byline Bancorp

Esquire Financial Holdings Inc diversification synergy
0.0
<div class='circular--portrait-small' style='background:#0D52D1;color: white;font-size:1.1em;padding-top: 12px;;'>ESQ</div>
<div class='circular--portrait-small' style='background:#754DEB;color: white;font-size:1.6em;padding-top: 6px;;'>BY</div>

Pay attention - limited upside

The 3 months correlation between Esquire and Byline is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Esquire Financial Holdings Inc and Byline Bancorp Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Byline Bancorp and Esquire 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 Esquire Financial Holdings are associated (or correlated) with Byline Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Byline Bancorp has no effect on the direction of Esquire Financial i.e. Esquire Financial and Byline Bancorp go up and down completely randomly.

Pair Corralation between Esquire Financial and Byline Bancorp

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]
DirectionFlat 
StrengthInsignificant
Accuracy1.67%
ValuesDaily Returns

Esquire Financial Holdings Inc  vs.  Byline Bancorp Inc

 Performance (%) 
    
  Timeline 
Esquire Financial 
00

Risk-Adjusted Performance

Over the last 30 days Esquire Financial Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite very unfluctuating forward-looking indicators, Esquire Financial is not utilizing all of its potentials. The current stock price disarray, may contribute to short term momentum losses for the insiders.
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.

Esquire Financial and Byline Bancorp Volatility Contrast

 Predicted Return Density 
    
  Returns 

Byline Bancorp

Pair trading matchups for Byline Bancorp

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