Unity Bancorp Correlations

UNTY Stock

USD 50.07 1.49 2.89%

The current 90-days correlation between Unity Bancorp and LINKBANCORP is 0.52 (i.e., Very weak diversification). The correlation of Unity 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.

Unity Bancorp Correlation With Market

Poor diversification

The correlation between Unity Bancorp and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Unity Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Unity Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Unity 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 estimate.

For more information on how to buy Unity Stock please use our How to Invest in Unity Bancorp guide.

Moving together with Unity Stock

0.97	AX	Axos Financial Earnings Call This Week	Pair Corr
0.84	BY	Byline Bancorp	Pair Corr
0.82	DB	Deutsche Bank AG Normal Trading	Pair Corr
0.76	KB	KB Financial Group	Pair Corr
0.72	NU	Nu Holdings Sell-off Trend	Pair Corr
0.79	PB	Prosperity Bancshares	Pair Corr
0.95	RF	Regions Financial	Pair Corr
0.9	WF	Woori Financial Group	Pair Corr
0.61	VBNK	VersaBank	Pair Corr
0.92	VBTX	Veritex Holdings	Pair Corr
0.8	TECTP	Tectonic Financial	Pair Corr
0.87	TFC-PO	Truist Financial	Pair Corr
0.83	TFC-PR	Truist Financial	Pair Corr
0.88	CFG-PE	Citizens Financial	Pair Corr
0.84	CFG-PH	Citizens Financial Group,	Pair Corr
0.95	EFSC	Enterprise Financial	Pair Corr
0.69	EFSI	Eagle Financial Services	Pair Corr
0.76	EGBN	Eagle Bancorp	Pair Corr
0.76	KEY-PJ	KeyCorp	Pair Corr
0.83	KEY-PK	KeyCorp	Pair Corr
0.69	KEY-PL	KeyCorp	Pair Corr
0.71	WABC	Westamerica Bancorporation	Pair Corr
0.85	WAFD	Washington Federal	Pair Corr
0.75	WASH	Washington Trust Bancorp	Pair Corr
0.71	BANC-PF	Banc of California	Pair Corr
0.74	EQBK	Equity Bancshares,	Pair Corr
0.94	ESSA	ESSA Bancorp Earnings Call This Week	Pair Corr
0.73	TFINP	Triumph Financial	Pair Corr
0.85	WSBCP	WesBanco	Pair Corr
0.73	WNEB	Western New England	Pair Corr
0.76	WSBF	Waterstone Financial	Pair Corr

Moving against Unity Stock

0.54

TFC-PI

Truist Financial

Pair Corr

Related Correlations Analysis

	LNKB	TCBX	TCBC	BPRN	PKBK	SMBC	UBCP	UNB
LNKB		0.89	0.0	0.78	0.9	0.91	0.62	-0.46	LNKB
TCBX	0.89		0.0	0.74	0.96	0.9	0.68	-0.5	TCBX
TCBC	0.0	0.0		0.0	0.0	0.0	0.0	0.0	TCBC
BPRN	0.78	0.74	0.0		0.78	0.79	0.31	-0.09	BPRN
PKBK	0.9	0.96	0.0	0.78		0.93	0.64	-0.43	PKBK
SMBC	0.91	0.9	0.0	0.79	0.93		0.53	-0.26	SMBC
UBCP	0.62	0.68	0.0	0.31	0.64	0.53		-0.87	UBCP
UNB	-0.46	-0.5	0.0	-0.09	-0.43	-0.26	-0.87		UNB
	LNKB	TCBX	TCBC	BPRN	PKBK	SMBC	UBCP	UNB

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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

PKBK	+ 0.96	TCBX
SMBC	+ 0.93	PKBK
SMBC	+ 0.91	LNKB
PKBK	+ 0.9	LNKB
SMBC	+ 0.9	TCBX
TCBX	+ 0.89	LNKB

High negative correlations

UNB	- 0.87	UBCP
UNB	- 0.5	TCBX
UNB	- 0.46	LNKB
UNB	- 0.43	PKBK
UNB	- 0.26	SMBC
UNB	- 0.09	BPRN

Risk-Adjusted Indicators

There is a big difference between Unity Stock performing well and Unity 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 Unity 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
LNKB	1.64	(0.13)	(0.01)	0.15	1.81	(1.82)	3.84	(3.18)	8.54
TCBX	1.57	0.10	0.09	0.31	1.47	(1.67)	4.04	(2.89)	9.62
TCBC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BPRN	1.61	(0.09)	(0.03)	0.16	1.67	(1.79)	3.64	(3.03)	9.53
PKBK	1.24	0.01	0.06	0.24	0.94	(1.59)	3.22	(2.20)	8.92
SMBC	1.15	(0.09)	0.00	0.17	1.17	(1.31)	2.77	(2.65)	10.10
UBCP	1.39	0.12	(0.06)	(5.82)	1.70	(1.43)	3.64	(2.69)	11.92
UNB	1.91	(0.22)	0.00	(0.12)	0.00	0.00	3.94	(3.85)	13.66

Unity Bancorp Corporate Executives

Elected by the shareholders, the Unity Bancorp's board of directors comprises two types of representatives: Unity Bancorp inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Unity. The board's role is to monitor Unity Bancorp's management team and ensure that shareholders' interests are well served. Unity Bancorp's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Unity Bancorp's outside directors are responsible for providing unbiased perspectives on the board's policies.

JD III

Executive CFO

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