Correlation Analysis Between FB Financial and Bridgewater Bancshares

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

FB Financial  
11

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in FB Financial Corporation are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days. 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.
Bridgewater Bancshares  
1010

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bridgewater Bancshares are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Bridgewater Bancshares may actually be approaching a critical reversion point that can send shares even higher in January 2020.

FB Financial and Bridgewater Bancshares Volatility Contrast

 Predicted Return Density 
      Returns 

FB Financial Corp.  vs.  Bridgewater Bancshares Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, FB Financial is expected to generate 6.64 times less return on investment than Bridgewater Bancshares. In addition to that, FB Financial is 1.1 times more volatile than Bridgewater Bancshares. It trades about 0.02 of its total potential returns per unit of risk. Bridgewater Bancshares is currently generating about 0.15 per unit of volatility. If you would invest  1,178  in Bridgewater Bancshares on November 10, 2019 and sell it today you would earn a total of  114.00  from holding Bridgewater Bancshares or generate 9.68% return on investment over 30 days.

Pair Corralation between FB Financial and Bridgewater Bancshares

0.32
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy94.12%
ValuesDaily Returns

Diversification Opportunities for FB Financial and Bridgewater Bancshares

FB Financial Corp. diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding FB Financial Corp. and Bridgewater Bancshares Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bridgewater Bancshares and FB 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 FB Financial Corporation are associated (or correlated) with Bridgewater Bancshares. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bridgewater Bancshares has no effect on the direction of FB Financial i.e. FB Financial and Bridgewater Bancshares go up and down completely randomly.
See also your portfolio center. Please also try Instant Ratings module to determine any equity ratings based on digital recommendations. macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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