Correlation Analysis Between Esquire Financial and Coastal Financial

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

Esquire Financial  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Esquire Financial Holdings are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. 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.
Coastal Financial  
77

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coastal Financial Corporation are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Coastal Financial sustained solid returns over the last few months and may actually be approaching a breakup point.

Esquire Financial and Coastal Financial Volatility Contrast

 Predicted Return Density 
      Returns 

Esquire Financial Holdings Inc  vs.  Coastal Financial Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Esquire Financial is expected to generate 3.56 times less return on investment than Coastal Financial. But when comparing it to its historical volatility, Esquire Financial Holdings is 1.39 times less risky than Coastal Financial. It trades about 0.04 of its potential returns per unit of risk. Coastal Financial Corporation is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest  1,467  in Coastal Financial Corporation on November 9, 2019 and sell it today you would earn a total of  242.00  from holding Coastal Financial Corporation or generate 16.5% return on investment over 30 days.

Pair Corralation between Esquire Financial and Coastal Financial

0.33
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy85.53%
ValuesDaily Returns

Diversification Opportunities for Esquire Financial and Coastal Financial

Esquire Financial Holdings Inc diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Esquire Financial Holdings Inc and Coastal Financial Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coastal Financial 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 Coastal Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coastal Financial has no effect on the direction of Esquire Financial i.e. Esquire Financial and Coastal 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.


 
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