Correlation Analysis Between Metropolitan Bank and FSB Bancorp

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

Metropolitan Bank  
1717

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Metropolitan Bank Holding Corp are ranked lower than 17 (%) 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.
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.

Metropolitan Bank and FSB Bancorp Volatility Contrast

 Predicted Return Density 
      Returns 

Metropolitan Bank Holding Corp  vs.  FSB Bancorp Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Metropolitan Bank Holding Corp is expected to generate 1.39 times more return on investment than FSB Bancorp. However, Metropolitan Bank is 1.39 times more volatile than FSB Bancorp. It trades about 0.25 of its potential returns per unit of risk. FSB Bancorp is currently generating about -0.01 per unit of risk. If you would invest  4,001  in Metropolitan Bank Holding Corp on November 14, 2019 and sell it today you would earn a total of  765.00  from holding Metropolitan Bank Holding Corp or generate 19.12% return on investment over 30 days.

Pair Corralation between Metropolitan Bank and FSB Bancorp

-0.38
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Metropolitan Bank and FSB Bancorp

Metropolitan Bank Holding Corp diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Metropolitan Bank Holding Corp and FSB Bancorp Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on FSB Bancorp 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 FSB Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FSB Bancorp has no effect on the direction of Metropolitan Bank i.e. Metropolitan Bank and FSB Bancorp go up and down completely randomly.
See also your portfolio center. Please also try Price Transformation module to use price transformation models to analyze depth of different equity instruments across global markets.


 
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