Correlation Analysis Between FFBW and Byline Bancorp

Analyzing existing cross correlation between FFBW and Byline Bancorp. You can compare the effects of market volatilities on FFBW 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 FFBW with a short position of Byline Bancorp. See also your portfolio center. Please also check ongoing floating volatility patterns of FFBW and Byline Bancorp.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

FFBW  
00

Risk-Adjusted Performance

Over the last 30 days FFBW has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly stable primary indicators, FFBW is not utilizing all of its potentials. The current stock price fuss, may contribute to near short-term losses for the directors.
Byline Bancorp  
1313

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Byline Bancorp are ranked lower than 13 (%) 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 February 2020.

FFBW and Byline Bancorp Volatility Contrast

 Predicted Return Density 
    
  Returns 

FFBW Inc  vs.  Byline Bancorp Inc

 Performance (%) 
    
  Timeline 

Pair Volatility

Given the investment horizon of 30 days, FFBW is expected to generate 19.4 times less return on investment than Byline Bancorp. In addition to that, FFBW is 1.63 times more volatile than Byline Bancorp. It trades about 0.01 of its total potential returns per unit of risk. Byline Bancorp is currently generating about 0.19 per unit of volatility. If you would invest  1,811  in Byline Bancorp on December 18, 2019 and sell it today you would earn a total of  232.00  from holding Byline Bancorp or generate 12.81% return on investment over 30 days.

Pair Corralation between FFBW and Byline Bancorp

0.89
Time Period3 Months [change]
DirectionPositive 
StrengthStrong
Accuracy98.39%
ValuesDaily Returns

Diversification Opportunities for FFBW and Byline Bancorp

FFBW Inc diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding FFBW 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 FFBW 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 FFBW 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 FFBW i.e. FFBW and Byline Bancorp go up and down completely randomly.
See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.