Cadence Bancorp Correlations

CADE Stock

USD 42.98 0.26 0.60%

The current 90-days correlation between Cadence Bancorp and Commerce Bancshares is 0.78 (i.e., Poor diversification). The correlation of Cadence Bancorp 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.

Cadence Bancorp Correlation With Market

Very weak diversification

The correlation between Cadence Bancorp and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cadence Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Cadence Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cadence Bancorp. 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 information on how to trade Cadence Stock refer to our How to Trade Cadence Stock guide.

Moving together with Cadence Stock

0.77	BIRG	Bank of Ireland	Pair Corr
0.84	TFC	Truist Financial Corp Sell-off Trend	Pair Corr
0.75	WBS	Webster Financial	Pair Corr
0.68	BFL	BSP Financial Group	Pair Corr
0.8	FMCB	Farmers Merchants Bancorp	Pair Corr
0.65	FUWAF	Furukawa Electric	Pair Corr
0.69	TORO	Toro	Pair Corr
0.7	MTC	MMTEC Inc Tech Boost	Pair Corr
0.86	GKOS	Glaukos Corp	Pair Corr
0.61	JBHT	JB Hunt Transport	Pair Corr
0.71	DRXGF	Drax Group plc	Pair Corr
0.66	CVNA	Carvana	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr
0.62	COPL	Copley Acquisition Corp	Pair Corr

Related Correlations Analysis

	CBSH	BOKF	PNFP	SNV	PB	VLY	CFR	COLB	BPOP
CBSH		0.49	0.67	0.66	0.06	-0.02	0.69	-0.09	0.97	CBSH
BOKF	0.49		0.86	0.84	0.77	0.71	0.83	0.71	0.52	BOKF
PNFP	0.67	0.86		1.0	0.67	0.55	0.84	0.55	0.71	PNFP
SNV	0.66	0.84	1.0		0.67	0.56	0.82	0.55	0.69	SNV
PB	0.06	0.77	0.67	0.67		0.86	0.56	0.94	0.08	PB
VLY	-0.02	0.71	0.55	0.56	0.86		0.55	0.93	-0.01	VLY
CFR	0.69	0.83	0.84	0.82	0.56	0.55		0.47	0.71	CFR
COLB	-0.09	0.71	0.55	0.55	0.94	0.93	0.47		-0.07	COLB
BPOP	0.97	0.52	0.71	0.69	0.08	-0.01	0.71	-0.07		BPOP
	CBSH	BOKF	PNFP	SNV	PB	VLY	CFR	COLB	BPOP

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

SNV	+ 1.0	PNFP
BPOP	+ 0.97	CBSH
COLB	+ 0.94	PB
COLB	+ 0.93	VLY
PNFP	+ 0.86	BOKF
VLY	+ 0.86	PB

High negative correlations

COLB	- 0.09	CBSH
BPOP	- 0.07	COLB
VLY	- 0.02	CBSH
BPOP	- 0.01	VLY

Risk-Adjusted Indicators

There is a big difference between Cadence Stock performing well and Cadence Bancorp 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 Cadence Bancorp'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
CBSH	1.07	(0.15)	0.00	(0.08)	0.00	0.00	2.38	(3.26)	9.69
BOKF	1.28	0.01	0.03	0.08	1.72	(1.46)	2.97	(3.12)	8.29
PNFP	1.34	(0.05)	(0.01)	0.04	1.96	(1.33)	2.87	(2.06)	9.66
SNV	1.38	(0.05)	(0.01)	0.04	1.99	(1.40)	2.93	(2.17)	9.62
PB	1.13	0.04	0.03	0.11	1.36	(1.30)	2.60	(2.08)	7.27
VLY	1.37	0.06	0.05	0.11	2.05	(1.36)	3.58	(2.90)	10.80
CFR	1.08	(0.05)	(0.03)	0.03	1.48	(1.07)	2.61	(1.79)	7.78
COLB	1.55	0.07	0.06	0.12	1.97	(1.67)	4.02	(2.26)	12.15
BPOP	1.26	(0.10)	(0.03)	0.00	2.02	(1.24)	2.67	(3.34)	8.67

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