Penns Woods Correlations

PWOD Stock  USD 31.57  1.39  4.61%   
The current 90-days correlation between Penns Woods Bancorp and First Northwest Bancorp is 0.08 (i.e., Significant diversification). The correlation of Penns Woods 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.

Penns Woods Correlation With Market

Very weak diversification

The correlation between Penns Woods Bancorp and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Penns Woods Bancorp and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Penns Woods 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 persons.

Moving together with Penns Stock

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  0.67VBFC Village Bank Normal TradingPairCorr
  0.68VBNK VersaBankPairCorr
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  0.82TECTP Tectonic FinancialPairCorr
  0.74EBMT Eagle Bancorp Montana Fiscal Year End 28th of January 2025 PairCorr
  0.88EBTC Enterprise BancorpPairCorr
  0.69ECBK ECB BancorpPairCorr
  0.89EFSC Enterprise Financial Fiscal Year End 27th of January 2025 PairCorr
  0.88EGBN Eagle Bancorp Fiscal Year End 22nd of January 2025 PairCorr
  0.83WABC Westamerica Bancorporation Fiscal Year End 16th of January 2025 PairCorr
  0.61WASH Washington Trust Bancorp Fiscal Year End 22nd of January 2025 PairCorr
  0.86BANC-PF Banc of CaliforniaPairCorr
  0.82EQBK Equity Bancshares, Fiscal Year End 22nd of January 2025 PairCorr
  0.77ESSA ESSA BancorpPairCorr
  0.92EVBN Evans BancorpPairCorr
  0.84EWBC East West Bancorp Fiscal Year End 28th of January 2025 PairCorr
  0.93WSBCP WesBancoPairCorr
  0.74WMPN William Penn BancorpPairCorr
  0.91WNEB Western New England Fiscal Year End 28th of January 2025 PairCorr

Moving against Penns Stock

  0.88CFG-PE Citizens FinancialPairCorr
  0.85TFC-PR Truist FinancialPairCorr
  0.84TFC-PO Truist FinancialPairCorr
  0.64WF Woori Financial GroupPairCorr
  0.57NU Nu HoldingsPairCorr
  0.51KEY-PI KeyCorpPairCorr
  0.8WAFDP Washington FederalPairCorr
  0.61SBNYL Signature BankPairCorr
  0.59FRCIL First Republic BankPairCorr
  0.49FRCCL First Republic BankPairCorr
  0.49FRCHL First Republic BankPairCorr
  0.48FRCKL First Republic BankPairCorr
  0.48FRCML First Republic BankPairCorr
  0.44FRCLL First Republic BankPairCorr

Related Correlations Analysis

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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   
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High negative correlations   
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Risk-Adjusted Indicators

There is a big difference between Penns Stock performing well and Penns Woods 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 Penns Woods' 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.