Correlation Analysis Between Metropolitan Bank and Esquire Financial

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

Metropolitan Bank  
1616

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Metropolitan Bank Holding Corp are ranked lower than 16 (%) 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.
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.

Metropolitan Bank and Esquire Financial Volatility Contrast

 Predicted Return Density 
      Returns 

Metropolitan Bank Holding Corp  vs.  Esquire Financial Holdings Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Metropolitan Bank Holding Corp is expected to generate 0.7 times more return on investment than Esquire Financial. However, Metropolitan Bank Holding Corp is 1.42 times less risky than Esquire Financial. It trades about 0.24 of its potential returns per unit of risk. Esquire Financial Holdings is currently generating about 0.08 per unit of risk. If you would invest  3,972  in Metropolitan Bank Holding Corp on November 10, 2019 and sell it today you would earn a total of  695.00  from holding Metropolitan Bank Holding Corp or generate 17.5% return on investment over 30 days.

Pair Corralation between Metropolitan Bank and Esquire Financial

0.43
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Metropolitan Bank and Esquire Financial

Metropolitan Bank Holding Corp diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Metropolitan Bank Holding Corp 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 Metropolitan Bank 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 Metropolitan Bank Holding Corp 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 Metropolitan Bank i.e. Metropolitan Bank and Esquire Financial go up and down completely randomly.
See also your portfolio center. Please also try Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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