First Mid Correlations

FMBH Stock

USD 31.02 0.12 0.39%

The current 90-days correlation between First Mid Illinois and Great Southern Bancorp is 0.86 (i.e., Very poor diversification). The correlation of First Mid 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.

First Mid Correlation With Market

Poor diversification

The correlation between First Mid Illinois and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Mid Illinois and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Mid Illinois. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with First Stock

0.83	AX	Axos Financial	Pair Corr
0.96	BY	Byline Bancorp	Pair Corr
0.62	KB	KB Financial Group	Pair Corr
0.73	NU	Nu Holdings	Pair Corr
0.91	PB	Prosperity Bancshares	Pair Corr
0.85	RF	Regions Financial Earnings Call This Week	Pair Corr
0.76	VBNK	VersaBank	Pair Corr
0.94	VBTX	Veritex Holdings	Pair Corr
0.91	TFC-PI	Truist Financial Earnings Call This Week	Pair Corr
0.84	TFC-PO	Truist Financial Earnings Call This Week	Pair Corr
0.86	TFC-PR	Truist Financial Earnings Call This Week	Pair Corr
0.97	EBTC	Enterprise Bancorp	Pair Corr
0.77	CFG-PE	Citizens Financial Earnings Call This Week	Pair Corr
0.74	CFG-PH	Citizens Financial Group, Earnings Call This Week	Pair Corr
0.97	EFSC	Enterprise Financial	Pair Corr
0.83	EGBN	Eagle Bancorp	Pair Corr
0.62	KEY-PJ	KeyCorp Earnings Call This Week	Pair Corr
0.69	KEY-PK	KeyCorp Earnings Call This Week	Pair Corr
0.71	KEY-PL	KeyCorp Earnings Call This Week	Pair Corr
0.74	WABC	Westamerica Bancorporation Earnings Call This Week	Pair Corr
0.77	WAFD	Washington Federal	Pair Corr
0.91	WASH	Washington Trust Bancorp	Pair Corr
0.95	EQBK	Equity Bancshares, Earnings Call This Week	Pair Corr
0.97	ESSA	ESSA Bancorp	Pair Corr
0.84	TFINP	Triumph Financial Earnings Call This Week	Pair Corr
0.94	EVBN	Evans Bancorp	Pair Corr
0.88	EWBC	East West Bancorp	Pair Corr
0.87	WMPN	William Penn Bancorp Earnings Call This Week	Pair Corr
0.81	WNEB	Western New England	Pair Corr

Moving against First Stock

0.62	VBFC	Village Bank	Pair Corr
0.43	ECBK	ECB Bancorp	Pair Corr
0.34	TECTP	Tectonic Financial	Pair Corr
0.54	FCAP	First Capital	Pair Corr
0.39	OCFCP	OceanFirst Financial Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	FNWD	GSBC	FRAF	CWBC	HMNF	FNWB	FFNW	HBCP	HFWA	HTBI
FNWD		-0.68	-0.08	-0.64	0.0	-0.66	0.61	-0.68	-0.58	0.4	FNWD
GSBC	-0.68		0.05	0.9	0.0	0.58	-0.38	0.76	0.86	-0.14	GSBC
FRAF	-0.08	0.05		0.28	0.0	0.39	0.1	0.38	0.24	-0.62	FRAF
CWBC	-0.64	0.9	0.28		0.0	0.59	-0.33	0.85	0.97	-0.26	CWBC
HMNF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	HMNF
FNWB	-0.66	0.58	0.39	0.59	0.0		-0.21	0.71	0.5	-0.3	FNWB
FFNW	0.61	-0.38	0.1	-0.33	0.0	-0.21		-0.15	-0.28	0.46	FFNW
HBCP	-0.68	0.76	0.38	0.85	0.0	0.71	-0.15		0.82	-0.17	HBCP
HFWA	-0.58	0.86	0.24	0.97	0.0	0.5	-0.28	0.82		-0.2	HFWA
HTBI	0.4	-0.14	-0.62	-0.26	0.0	-0.3	0.46	-0.17	-0.2		HTBI
	FNWD	GSBC	FRAF	CWBC	HMNF	FNWB	FFNW	HBCP	HFWA	HTBI

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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

HFWA	+ 0.97	CWBC
CWBC	+ 0.9	GSBC
HFWA	+ 0.86	GSBC
HBCP	+ 0.85	CWBC
HFWA	+ 0.82	HBCP
HBCP	+ 0.76	GSBC

High negative correlations

HBCP	- 0.68	FNWD
GSBC	- 0.68	FNWD
FNWB	- 0.66	FNWD
CWBC	- 0.64	FNWD
HTBI	- 0.62	FRAF
HFWA	- 0.58	FNWD

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Mid 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 First Mid'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
FNWD	0.78	0.06	0.14	0.21	0.81	(0.85)	1.47	(1.57)	6.72
GSBC	1.41	(0.14)	0.00	(0.26)	0.00	0.00	2.62	(3.46)	10.69
FRAF	1.16	0.31	0.29	0.42	0.85	(1.43)	4.61	(1.83)	9.67
CWBC	1.17	(0.16)	0.00	(0.29)	0.00	0.00	2.48	(2.99)	11.21
HMNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FNWB	1.50	(0.02)	0.00	(0.13)	0.00	0.00	3.47	(3.24)	10.72
FFNW	0.83	0.12	0.22	3.31	0.74	(1.06)	1.08	(1.58)	16.29
HBCP	1.45	(0.01)	0.00	(0.10)	0.00	0.00	3.31	(3.94)	11.24
HFWA	1.32	(0.10)	0.00	(0.19)	0.00	0.00	2.33	(3.38)	12.94
HTBI	1.24	(0.02)	0.00	(0.29)	0.00	0.00	2.33	(1.88)	7.22

First Mid Corporate Management

Eric McRae	Executive VP, Executive VP of First Mid-Illinois Bank and Trust, N.A. and Sr. Lender of First Mid-Illinois Bank and Trust, N.A.	Profile
Megan McElwee	Senior Officer	Profile
David Hiden	Senior Officer	Profile
Anya Schuetz	Senior Management	Profile
Rhonda Gatons	Executive Resources	Profile

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