Correlation Analysis Between FB Financial and Metropolitan Bank

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

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.
Metropolitan Bank  
1414

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Metropolitan Bank Holding Corp are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Metropolitan Bank sustained solid returns over the last few months and may actually be approaching a breakup point.

FB Financial and Metropolitan Bank Volatility Contrast

 Predicted Return Density 
      Returns 

FB Financial Corp.  vs.  Metropolitan Bank Holding Corp

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, FB Financial is expected to generate 599.25 times less return on investment than Metropolitan Bank. But when comparing it to its historical volatility, FB Financial Corporation is 1.1 times less risky than Metropolitan Bank. It trades about 0.0 of its potential returns per unit of risk. Metropolitan Bank Holding Corp is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest  4,026  in Metropolitan Bank Holding Corp on November 12, 2019 and sell it today you would earn a total of  649.00  from holding Metropolitan Bank Holding Corp or generate 16.12% return on investment over 30 days.

Pair Corralation between FB Financial and Metropolitan Bank

0.68
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy98.44%
ValuesDaily Returns

Diversification Opportunities for FB Financial and Metropolitan Bank

FB Financial Corp. diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding FB Financial Corp. and Metropolitan Bank Holding Corp in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Metropolitan Bank 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 Metropolitan Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Metropolitan Bank has no effect on the direction of FB Financial i.e. FB Financial and Metropolitan Bank go up and down completely randomly.
See also your portfolio center. Please also try Equity Search module to search for activelly-traded equities including funds and etfs from over 30 global markets.


 
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