FNB Correlations

FIDS Stock  USD 21.20  0.20  0.95%   
The correlation of FNB 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.

FNB Correlation With Market

Average diversification

The correlation between FNB Inc and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FNB Inc and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to FNB could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FNB when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back FNB - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling FNB Inc to buy it.

Moving against FNB Pink Sheet

  0.49PFE Pfizer IncPairCorr
  0.44CIHHF China Merchants BankPairCorr
  0.48MRK Merck Company Earnings Call This WeekPairCorr
  0.35CVX Chevron CorpPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
MIFFFMBM
FMBMFKYS
MIFFFKYS
MIFFCEFC
MIFFFRFC
FRFCCEFC
  
High negative correlations   
FMBMCTYP
MIFFCTYP
FKYSCTYP
CTYPCEFC
CTYPAPLO
FRFCCTYP

Risk-Adjusted Indicators

There is a big difference between FNB Pink Sheet performing well and FNB 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 FNB'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APLO  0.26  0.00  0.00  0.33  0.00 
 1.42 
 6.59 
CEFC  1.01  0.25  0.01 (1.72) 0.91 
 2.37 
 8.18 
CTYP  0.34 (0.14) 0.00  4.58  0.00 
 0.00 
 9.08 
EFIN  1.55  0.69  0.28  1.76  0.00 
 1.27 
 3.64 
FGFH  0.24 (0.01)(0.43)(0.45) 0.31 
 0.96 
 2.49 
FKYS  1.84  0.04 (0.01) 0.28  2.16 
 3.33 
 19.43 
FMBM  0.81  0.11 (0.04) 0.73  0.72 
 2.32 
 4.97 
FMFG  0.79  0.07 (0.02) 0.41  1.00 
 2.17 
 9.41 
FRFC  0.62  0.12  0.00 (1.17) 0.00 
 3.04 
 14.87 
MIFF  1.10  0.18  0.02  0.59  1.13 
 3.12 
 14.37 

Be your own money manager

Our tools can tell you how much better you can do entering a position in FNB without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Fundamental Analysis Now

   

Fundamental Analysis

View fundamental data based on most recent published financial statements
All  Next Launch Module