Correlation Analysis Between FSB Bancorp and Byline Bancorp

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

Comparative Performance

FSB Bancorp  
00

Risk-Adjusted Performance

Over the last 30 days FSB Bancorp has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, FSB Bancorp is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
Byline Bancorp  
1616

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Byline Bancorp are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days. Inspite fairly weak basic indicators, Byline Bancorp showed solid returns over the last few months and may actually be approaching a breakup point.

FSB Bancorp and Byline Bancorp Volatility Contrast

 Predicted Return Density 
    
  Returns 

FSB Bancorp Inc  vs.  Byline Bancorp Inc

 Performance (%) 
    
  Timeline 

Pair Volatility

Given the investment horizon of 30 days, FSB Bancorp is expected to under-perform the Byline Bancorp. But the stock apears to be less risky and, when comparing its historical volatility, FSB Bancorp is 1.3 times less risky than Byline Bancorp. The stock trades about -0.02 of its potential returns per unit of risk. The Byline Bancorp is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest  1,731  in Byline Bancorp on December 29, 2019 and sell it today you would earn a total of  300.00  from holding Byline Bancorp or generate 17.33% return on investment over 30 days.

Pair Corralation between FSB Bancorp and Byline Bancorp

0.45
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy98.36%
ValuesDaily Returns

Diversification Opportunities for FSB Bancorp and Byline Bancorp

FSB Bancorp Inc diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding FSB Bancorp 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 FSB Bancorp 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 FSB Bancorp 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 FSB Bancorp i.e. FSB Bancorp and Byline Bancorp go up and down completely randomly.
See also your portfolio center. Please also try Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.