Correlation Analysis Between FSB Bancorp and Esquire Financial

This module allows you to analyze existing cross correlation between FSB Bancorp and Esquire Financial Holdings. You can compare the effects of market volatilities on FSB Bancorp and Esquire 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 FSB Bancorp with a short position of Esquire Financial. See also your portfolio center. Please also check ongoing floating volatility patterns of FSB Bancorp and Esquire Financial.
Horizon     30 Days    Login   to change
Symbolsvs
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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.
Esquire Financial  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Esquire Financial Holdings are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Inspite very weak forward-looking indicators, Esquire Financial may actually be approaching a critical reversion point that can send shares even higher in January 2020.

FSB Bancorp and Esquire Financial Volatility Contrast

 Predicted Return Density 
      Returns 

FSB Bancorp Inc  vs.  Esquire Financial Holdings Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, FSB Bancorp is expected to under-perform the Esquire Financial. But the stock apears to be less risky and, when comparing its historical volatility, FSB Bancorp is 1.95 times less risky than Esquire Financial. The stock trades about -0.03 of its potential returns per unit of risk. The Esquire Financial Holdings is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest  2,363  in Esquire Financial Holdings on November 10, 2019 and sell it today you would earn a total of  168.00  from holding Esquire Financial Holdings or generate 7.11% return on investment over 30 days.

Pair Corralation between FSB Bancorp and Esquire Financial

-0.11
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for FSB Bancorp and Esquire Financial

FSB Bancorp Inc diversification synergy

Good diversification

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