ChoiceOne Financial Correlations

COFS Stock

USD 35.90 0.40 1.13%

The current 90-days correlation between ChoiceOne Financial and Waterstone Financial is 0.58 (i.e., Very weak diversification). The correlation of ChoiceOne 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.

ChoiceOne Financial Correlation With Market

Very weak diversification

The correlation between ChoiceOne Financial Services and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ChoiceOne Financial Services and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ChoiceOne Stock

0.68	AX	Axos Financial	Pair Corr
0.72	BY	Byline Bancorp Normal Trading	Pair Corr
0.64	DB	Deutsche Bank AG	Pair Corr
0.7	NU	Nu Holdings Earnings Call This Week	Pair Corr
0.85	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.93	RF	Regions Financial Earnings Call This Week	Pair Corr
0.78	VABK	Virginia National	Pair Corr
0.88	VBNK	VersaBank Fiscal Year End 11th of December 2024	Pair Corr
0.94	VBTX	Veritex Holdings Normal Trading	Pair Corr
0.76	TECTP	Tectonic Financial	Pair Corr
0.87	EBMT	Eagle Bancorp Montana Fiscal Year End 28th of January 2025	Pair Corr
0.9	EBTC	Enterprise Bancorp Normal Trading	Pair Corr
0.78	ECBK	ECB Bancorp	Pair Corr
0.72	CFG-PH	Citizens Financial Group,	Pair Corr
0.87	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.93	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.69	KEY-PI	KeyCorp	Pair Corr
0.81	KEY-PJ	KeyCorp	Pair Corr
0.8	KEY-PK	KeyCorp	Pair Corr
0.82	KEY-PL	KeyCorp	Pair Corr
0.76	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.93	WASH	Washington Trust Bancorp Normal Trading	Pair Corr
0.73	BANC-PF	Banc of California	Pair Corr
0.91	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.79	ESSA	ESSA Bancorp	Pair Corr
0.65	TFINP	Triumph Financial Potential Growth	Pair Corr
0.84	EVBN	Evans Bancorp	Pair Corr
0.77	WSBCP	WesBanco	Pair Corr

Moving against ChoiceOne Stock

0.71	FRCIL	First Republic Bank	Pair Corr
0.67	FRCCL	First Republic Bank	Pair Corr
0.67	FRCHL	First Republic Bank	Pair Corr

Related Correlations Analysis

	WSBF	STBA	SMBC	IROQ	CBAN	HFWA
WSBF		0.52	0.7	0.38	0.81	0.71	WSBF
STBA	0.52		0.15	-0.37	0.39	0.32	STBA
SMBC	0.7	0.15		0.72	0.87	0.86	SMBC
IROQ	0.38	-0.37	0.72		0.65	0.42	IROQ
CBAN	0.81	0.39	0.87	0.65		0.75	CBAN
HFWA	0.71	0.32	0.86	0.42	0.75		HFWA
	WSBF	STBA	SMBC	IROQ	CBAN	HFWA

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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

CBAN	+ 0.87	SMBC
HFWA	+ 0.86	SMBC
CBAN	+ 0.81	WSBF
HFWA	+ 0.75	CBAN
IROQ	+ 0.72	SMBC
HFWA	+ 0.71	WSBF

High negative correlations

IROQ

- 0.37

STBA

Risk-Adjusted Indicators

There is a big difference between ChoiceOne Stock performing well and ChoiceOne 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 ChoiceOne 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
WSBF	1.57	(0.05)	0.04	0.14	1.73	(1.77)	2.94	(2.65)	15.80
STBA	1.61	(0.21)	0.00	0.08	1.62	(1.78)	2.96	(2.36)	18.80
SMBC	1.78	0.07	0.17	0.19	1.53	(2.09)	5.30	(3.03)	19.16
IROQ	1.08	0.35	0.12	24.94	0.97	(1.48)	3.24	(1.88)	11.15
CBAN	1.33	0.11	0.21	0.22	0.99	(1.73)	2.76	(2.02)	16.22
HFWA	1.65	0.04	0.11	0.18	1.62	(1.71)	3.50	(2.26)	19.67

ChoiceOne Financial Corporate Management

Lee Braford	Chief Credit Officer and Sr. VP	Profile
Daniel Wheat	Mortgage Originator	Profile
Kelly CFP	CEO Director	Profile
Shelly Childers	Senior Officer	Profile
Heather Brolick	Senior Bank	Profile
Bradley Henion	Executive Bank	Profile

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