Northfield Bancorp Correlations

NFBK Stock

USD 11.20 0.23 2.01%

The current 90-days correlation between Northfield Bancorp and First Business Financial is -0.08 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Northfield Bancorp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northfield Bancorp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Northfield Bancorp Correlation With Market

Significant diversification

The correlation between Northfield Bancorp and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northfield Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Northfield Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Northfield 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 bureau of labor statistics.

For more information on how to buy Northfield Stock please use our How to buy in Northfield Stock guide.

Moving together with Northfield Stock

0.7	FBNC	First Bancorp	Pair Corr
0.86	FFBC	First Financial Bancorp Normal Trading	Pair Corr
0.86	AUB	Atlantic Union Bankshares	Pair Corr
0.72	HTB	HomeTrust Bancshares, Symbol Change	Pair Corr
0.86	NIC	Nicolet Bankshares	Pair Corr
0.86	OFG	OFG Bancorp	Pair Corr
0.84	GBCI	Glacier Bancorp	Pair Corr
0.86	INBK	First Internet Bancorp	Pair Corr
0.71	MTRO	Metro Bank PLC	Pair Corr
0.63	NBTB	NBT Bancorp	Pair Corr
0.67	SACH	Sachem Capital Corp	Pair Corr
0.68	SFBC	Sound Financial Bancorp	Pair Corr
0.81	BANR	Banner	Pair Corr
0.65	BYFC	Broadway Financial	Pair Corr
0.8	TRMK	Trustmark	Pair Corr
0.9	CARE	Carter Bank	Pair Corr

Moving against Northfield Stock

0.83	SBID	State Bank	Pair Corr
0.8	601665	Qilu Bank	Pair Corr
0.67	601187	Xiamen Bank	Pair Corr
0.57	002966	Bank of Suzhou	Pair Corr
0.56	WBCPM	Westpac Banking Earnings Call This Week	Pair Corr
0.51	HFBL	Home Federal Bancorp Normal Trading	Pair Corr
0.45	BOQPG	Bank of Queensland	Pair Corr
0.43	BIRG	Bank of Ireland	Pair Corr
0.66	PBCRY	Bank Central Asia	Pair Corr
0.63	SHG	Shinhan Financial	Pair Corr
0.42	PPERY	Bank Mandiri Persero	Pair Corr
0.37	BKRKF	PT Bank Rakyat	Pair Corr
0.32	PBCRF	PT Bank Central	Pair Corr

Related Correlations Analysis

	FBIZ	KRNY	HBCP	RRBI	FRBA	UNTY	PGC	CWBC	CIVB	CBNK
FBIZ		0.67	0.86	0.72	0.51	0.6	0.31	0.82	0.63	0.12	FBIZ
KRNY	0.67		0.67	0.73	0.06	0.51	0.3	0.77	0.59	-0.12	KRNY
HBCP	0.86	0.67		0.62	0.67	0.75	0.58	0.66	0.41	0.39	HBCP
RRBI	0.72	0.73	0.62		0.05	0.26	-0.05	0.92	0.83	-0.36	RRBI
FRBA	0.51	0.06	0.67	0.05		0.71	0.74	0.1	-0.13	0.84	FRBA
UNTY	0.6	0.51	0.75	0.26	0.71		0.86	0.33	0.05	0.68	UNTY
PGC	0.31	0.3	0.58	-0.05	0.74	0.86		-0.03	-0.3	0.86	PGC
CWBC	0.82	0.77	0.66	0.92	0.1	0.33	-0.03		0.86	-0.32	CWBC
CIVB	0.63	0.59	0.41	0.83	-0.13	0.05	-0.3	0.86		-0.54	CIVB
CBNK	0.12	-0.12	0.39	-0.36	0.84	0.68	0.86	-0.32	-0.54		CBNK
	FBIZ	KRNY	HBCP	RRBI	FRBA	UNTY	PGC	CWBC	CIVB	CBNK

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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	+ 0.92	RRBI
HBCP	+ 0.86	FBIZ
PGC	+ 0.86	UNTY
CBNK	+ 0.86	PGC
CIVB	+ 0.86	CWBC
CBNK	+ 0.84	FRBA

High negative correlations

CBNK	- 0.54	CIVB
CBNK	- 0.36	RRBI
CBNK	- 0.32	CWBC
CIVB	- 0.3	PGC
CIVB	- 0.13	FRBA
CBNK	- 0.12	KRNY

Risk-Adjusted Indicators

There is a big difference between Northfield Stock performing well and Northfield 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 Northfield 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
FBIZ	1.18	(0.01)	0.00	0.06	1.44	(1.26)	3.04	(2.41)	8.01
KRNY	1.29	0.11	0.07	0.16	1.42	(1.52)	4.09	(2.74)	8.83
HBCP	1.23	(0.06)	(0.02)	0.02	1.54	(1.39)	2.97	(2.40)	9.17
RRBI	1.30	0.07	0.06	0.12	1.41	(1.46)	3.40	(2.59)	7.75
FRBA	0.97	(0.13)	0.00	(0.07)	0.00	0.00	2.80	(1.97)	8.16
UNTY	1.50	(0.06)	(0.02)	0.02	2.09	(1.57)	3.47	(4.05)	11.20
PGC	1.56	(0.13)	0.00	(0.02)	0.00	0.00	3.64	(3.17)	14.41
CWBC	0.99	0.07	0.07	0.14	0.95	(1.31)	2.67	(2.09)	5.90
CIVB	1.10	0.14	0.06	0.93	1.08	(1.44)	3.83	(1.99)	8.44
CBNK	1.13	(0.32)	0.00	(0.26)	0.00	0.00	2.71	(2.88)	6.99

Northfield Bancorp Corporate Management

Susan Esq	General VP	Profile
Christopher Donohue	VP Bank	Profile
Daniel Greene	VP Bank	Profile
Damien Kane	Senior Marketing	Profile

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