Axos Financial Correlations

AX Stock

USD 75.60 3.52 4.45%

The current 90-days correlation between Axos Financial and International Bancshares is 0.82 (i.e., Very poor diversification). The correlation of Axos Financial is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Axos Financial Correlation With Market

Very weak diversification

The correlation between Axos Financial and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Axos Financial and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Axos Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Axos Financial. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in consumer price index.

For more information on how to buy Axos Stock please use our How to Invest in Axos Financial guide.

Moving together with Axos Stock

0.95	BY	Byline Bancorp	Pair Corr
0.67	PB	Prosperity Bancshares	Pair Corr
0.93	RF	Regions Financial	Pair Corr
0.76	601658	Postal Savings Bank	Pair Corr
0.88	EBMT	Eagle Bancorp Montana	Pair Corr
0.92	EFSC	Enterprise Financial	Pair Corr
0.75	WABC	Westamerica Bancorporation	Pair Corr
0.8	WAFD	Washington Federal	Pair Corr
0.88	WASH	Washington Trust Bancorp	Pair Corr
0.81	EWBC	East West Bancorp	Pair Corr
0.87	WNEB	Western New England	Pair Corr
0.83	WSFS	WSFS Financial	Pair Corr
0.91	WTFC	Wintrust Financial	Pair Corr
0.97	FBNC	First Bancorp	Pair Corr
0.97	FCBC	First Community Banc	Pair Corr

Moving against Axos Stock

0.65	DCBBANK	DCB Bank Limited	Pair Corr
0.59	TMB	Tamilnad Mercantile Bank	Pair Corr
0.57	BIRG	Bank of Ireland	Pair Corr
0.56	VBTX	Veritex Holdings	Pair Corr
0.78	TFINP	Triumph Financial	Pair Corr
0.71	SOUTHBANK	South Indian	Pair Corr
0.68	HSBK	Halyk Bank	Pair Corr
0.34	WTBA	West Bancorporation	Pair Corr
0.83	BANKINDIA	Bank of India	Pair Corr
0.63	FRMEP	First Merchants	Pair Corr
0.38	FISI	Financial Institutions	Pair Corr

Related Correlations Analysis

	IBOC	FFIN	HWC	IFS	WBS	ABCB	AUB	OZK	UBSI	AVAL
IBOC		0.9	0.75	-0.13	0.78	0.33	0.73	0.78	0.73	-0.7	IBOC
FFIN	0.9		0.75	-0.41	0.79	0.13	0.74	0.8	0.75	-0.85	FFIN
HWC	0.75	0.75		-0.31	0.83	0.57	0.83	0.89	0.79	-0.7	HWC
IFS	-0.13	-0.41	-0.31		-0.24	0.24	-0.27	-0.36	-0.29	0.48	IFS
WBS	0.78	0.79	0.83	-0.24		0.38	0.73	0.82	0.94	-0.69	WBS
ABCB	0.33	0.13	0.57	0.24	0.38		0.58	0.45	0.35	-0.1	ABCB
AUB	0.73	0.74	0.83	-0.27	0.73	0.58		0.91	0.65	-0.82	AUB
OZK	0.78	0.8	0.89	-0.36	0.82	0.45	0.91		0.73	-0.81	OZK
UBSI	0.73	0.75	0.79	-0.29	0.94	0.35	0.65	0.73		-0.61	UBSI
AVAL	-0.7	-0.85	-0.7	0.48	-0.69	-0.1	-0.82	-0.81	-0.61		AVAL
	IBOC	FFIN	HWC	IFS	WBS	ABCB	AUB	OZK	UBSI	AVAL

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

UBSI	+ 0.94	WBS
OZK	+ 0.91	AUB
FFIN	+ 0.9	IBOC
OZK	+ 0.89	HWC
WBS	+ 0.83	HWC
AUB	+ 0.83	HWC

High negative correlations

AVAL	- 0.85	FFIN
AVAL	- 0.82	AUB
AVAL	- 0.81	OZK
AVAL	- 0.7	HWC
AVAL	- 0.7	IBOC
AVAL	- 0.69	WBS

Risk-Adjusted Indicators

There is a big difference between Axos Stock performing well and Axos Financial Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Axos Financial's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IBOC	1.10	(0.14)	0.00	(0.10)	0.00	0.00	2.53	(2.01)	9.65
FFIN	1.17	(0.28)	0.00	(0.18)	0.00	0.00	2.25	(2.65)	10.06
HWC	1.17	(0.13)	0.00	(0.05)	0.00	0.00	2.35	(3.32)	12.55
IFS	1.21	0.02	0.01	0.06	1.87	(1.09)	2.26	(3.08)	9.22
WBS	1.27	(0.05)	0.00	0.21	0.00	0.00	2.76	(2.15)	12.72
ABCB	1.10	0.00	0.00	0.03	1.48	(1.31)	2.51	(1.88)	10.10
AUB	1.31	(0.13)	0.00	(0.04)	0.00	0.00	3.50	(3.21)	12.75
OZK	1.18	(0.26)	0.00	(0.15)	0.00	0.00	2.25	(2.25)	11.52
UBSI	1.05	(0.07)	0.00	(0.53)	0.00	0.00	2.68	(3.21)	9.27
AVAL	1.50	0.41	0.23	0.91	1.33	(1.79)	3.79	(2.71)	8.13

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