Magyar Bancorp Correlations

MGYR Stock

USD 12.90 0.02 0.15%

The correlation of Magyar 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Magyar Bancorp Correlation With Market

Average diversification

The correlation between Magyar Bancorp and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Magyar Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Magyar 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 manufacturing.

To learn how to invest in Magyar Stock, please use our How to Invest in Magyar Bancorp guide.

Moving together with Magyar Stock

0.65	PB	Prosperity Bancshares Normal Trading	Pair Corr
0.63	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.67	EBTC	Enterprise Bancorp	Pair Corr

Moving against Magyar Stock

0.33

Woori Financial Group

Pair Corr

Related Correlations Analysis

	HVBC	OFED	CULL	HFBL	CWBC	FFNW	FNWB	FCAP
HVBC		0.0	0.0	0.0	0.0	0.0	0.0	0.0	HVBC
OFED	0.0		0.0	-0.1	0.54	-0.23	0.43	-0.77	OFED
CULL	0.0	0.0		0.0	0.0	0.0	0.0	0.0	CULL
HFBL	0.0	-0.1	0.0		-0.06	-0.04	0.01	0.12	HFBL
CWBC	0.0	0.54	0.0	-0.06		-0.03	0.5	-0.53	CWBC
FFNW	0.0	-0.23	0.0	-0.04	-0.03		0.37	0.21	FFNW
FNWB	0.0	0.43	0.0	0.01	0.5	0.37		-0.46	FNWB
FCAP	0.0	-0.77	0.0	0.12	-0.53	0.21	-0.46		FCAP
	HVBC	OFED	CULL	HFBL	CWBC	FFNW	FNWB	FCAP

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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

CWBC	+ 0.54	OFED
FNWB	+ 0.5	CWBC
FNWB	+ 0.43	OFED
FNWB	+ 0.37	FFNW
FCAP	+ 0.21	FFNW
FCAP	+ 0.12	HFBL

High negative correlations

FCAP	- 0.77	OFED
FCAP	- 0.53	CWBC
FCAP	- 0.46	FNWB
FFNW	- 0.23	OFED
HFBL	- 0.1	OFED
CWBC	- 0.06	HFBL

Risk-Adjusted Indicators

There is a big difference between Magyar Stock performing well and Magyar 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 Magyar 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
HVBC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OFED	2.13	(0.28)	0.00	(0.78)	0.00	0.00	3.48	(5.28)	12.66
CULL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HFBL	1.84	(0.01)	(0.02)	0.11	2.52	(3.10)	3.82	(4.31)	21.70
CWBC	1.07	(0.01)	0.02	0.12	1.12	(1.16)	2.64	(2.16)	9.14
FFNW	0.67	(0.02)	(0.12)	0.08	0.74	(0.77)	1.68	(1.13)	4.63
FNWB	1.50	0.05	0.00	0.20	1.53	(1.78)	4.78	(2.48)	14.21
FCAP	1.73	0.09	(0.01)	0.48	1.86	(2.40)	6.22	(3.85)	14.42

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