First Savings Correlations

FSFG Stock

USD 26.20 0.20 0.77%

The current 90-days correlation between First Savings Financial and First Capital is 0.31 (i.e., Weak diversification). The correlation of First Savings 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 Savings Correlation With Market

Very weak diversification

The correlation between First Savings Financial and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Savings Financial and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Savings 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 census.

Moving together with First Stock

0.78	TFC-PI	Truist Financial	Pair Corr
0.82	EBMT	Eagle Bancorp Montana Earnings Call Today	Pair Corr
0.73	ECBK	ECB Bancorp	Pair Corr
0.68	WABC	Westamerica Bancorporation	Pair Corr
0.72	WAFDP	Washington Federal	Pair Corr
0.67	WNEB	Western New England Earnings Call Tomorrow	Pair Corr

Moving against First Stock

0.38

EBTC

Enterprise Bancorp

Pair Corr

Related Correlations Analysis

	FCAP	OFED	CULL	HFBL	FSBW	EBMT	FCCO	FBIZ
FCAP		0.0	0.0	-0.4	-0.11	0.46	0.13	-0.29	FCAP
OFED	0.0		0.0	0.0	0.0	0.0	0.0	0.0	OFED
CULL	0.0	0.0		0.0	0.0	0.0	0.0	0.0	CULL
HFBL	-0.4	0.0	0.0		0.44	0.11	0.36	0.56	HFBL
FSBW	-0.11	0.0	0.0	0.44		0.62	0.85	0.9	FSBW
EBMT	0.46	0.0	0.0	0.11	0.62		0.67	0.45	EBMT
FCCO	0.13	0.0	0.0	0.36	0.85	0.67		0.86	FCCO
FBIZ	-0.29	0.0	0.0	0.56	0.9	0.45	0.86		FBIZ
	FCAP	OFED	CULL	HFBL	FSBW	EBMT	FCCO	FBIZ

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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

FBIZ	+ 0.9	FSBW
FBIZ	+ 0.86	FCCO
FCCO	+ 0.85	FSBW
FCCO	+ 0.67	EBMT
EBMT	+ 0.62	FSBW
FBIZ	+ 0.56	HFBL

High negative correlations

HFBL	- 0.4	FCAP
FBIZ	- 0.29	FCAP
FSBW	- 0.11	FCAP
FBIZ	- 0.0	CULL
FCCO	- 0.0	CULL
EBMT	- 0.0	CULL

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Savings 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 Savings' 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
FCAP	2.32	(0.10)	(0.04)	0.02	2.99	(2.35)	5.98	(5.04)	15.49
OFED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CULL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HFBL	1.51	0.00	(0.05)	0.10	1.80	(2.09)	3.12	(3.16)	11.15
FSBW	1.24	(0.03)	(0.01)	0.11	1.44	(1.32)	2.87	(2.43)	8.87
EBMT	1.02	0.04	(0.02)	0.20	1.14	(1.14)	2.65	(1.96)	5.98
FCCO	1.17	0.18	0.15	0.32	0.80	(1.49)	2.96	(1.58)	9.17
FBIZ	1.38	0.13	0.08	0.27	1.30	(1.59)	3.20	(2.38)	8.56

First Savings Corporate Management

CPA CPA	CFO VP	Profile
Lenfield Basham	Executive Officer	Profile
Jacqueline CPA	Chief Officer	Profile
Jacqueline Journell	Chief Officer	Profile

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