First Horizon National Stock Market Value
| FHN Stock | USD 20.93 0.76 3.77% |
| Symbol | First |
First Horizon National Price To Book Ratio
Is Regional Banks space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of First Horizon. If investors know First will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about First Horizon listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.734 | Dividend Share 0.6 | Earnings Share 1.37 | Revenue Per Share 5.604 | Quarterly Revenue Growth 0.186 |
The market value of First Horizon National is measured differently than its book value, which is the value of First that is recorded on the company's balance sheet. Investors also form their own opinion of First Horizon's value that differs from its market value or its book value, called intrinsic value, which is First Horizon's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because First Horizon's market value can be influenced by many factors that don't directly affect First Horizon's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between First Horizon's value and its price as these two are different measures arrived at by different means. Investors typically determine if First Horizon is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, First Horizon's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
First Horizon 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to First Horizon's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of First Horizon.
| 08/25/2024 |
| 11/23/2024 |
If you would invest 0.00 in First Horizon on August 25, 2024 and sell it all today you would earn a total of 0.00 from holding First Horizon National or generate 0.0% return on investment in First Horizon over 90 days. First Horizon is related to or competes with Zions Bancorporation, KeyCorp, Comerica, Western Alliance, Fifth Third, Truist Financial, and Huntington Bancshares. First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial se... More
First Horizon Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure First Horizon's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess First Horizon National upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.59 | |||
| Information Ratio | 0.1256 | |||
| Maximum Drawdown | 18.94 | |||
| Value At Risk | (2.49) | |||
| Potential Upside | 3.8 |
First Horizon Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for First Horizon's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as First Horizon's standard deviation. In reality, there are many statistical measures that can use First Horizon historical prices to predict the future First Horizon's volatility.| Risk Adjusted Performance | 0.1411 | |||
| Jensen Alpha | 0.1405 | |||
| Total Risk Alpha | 0.0358 | |||
| Sortino Ratio | 0.2103 | |||
| Treynor Ratio | 0.1746 |
First Horizon National Backtested Returns
First Horizon appears to be not too volatile, given 3 months investment horizon. First Horizon National secures Sharpe Ratio (or Efficiency) of 0.16, which denotes the company had a 0.16% return per unit of risk over the last 3 months. We have found thirty technical indicators for First Horizon National, which you can use to evaluate the volatility of the firm. Please utilize First Horizon's Downside Deviation of 1.59, coefficient of variation of 572.6, and Mean Deviation of 1.67 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, First Horizon holds a performance score of 12. The firm shows a Beta (market volatility) of 2.61, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, First Horizon will likely underperform. Please check First Horizon's maximum drawdown, accumulation distribution, relative strength index, as well as the relationship between the semi variance and day typical price , to make a quick decision on whether First Horizon's price patterns will revert.
Auto-correlation | -0.61 |
Very good reverse predictability
First Horizon National has very good reverse predictability. Overlapping area represents the amount of predictability between First Horizon time series from 25th of August 2024 to 9th of October 2024 and 9th of October 2024 to 23rd of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of First Horizon National price movement. The serial correlation of -0.61 indicates that roughly 61.0% of current First Horizon price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.61 | |
| Spearman Rank Test | -0.41 | |
| Residual Average | 0.0 | |
| Price Variance | 2.28 |
First Horizon National lagged returns against current returns
Autocorrelation, which is First Horizon stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting First Horizon's stock expected returns. We can calculate the autocorrelation of First Horizon returns to help us make a trade decision. For example, suppose you find that First Horizon has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
First Horizon regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If First Horizon stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if First Horizon stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in First Horizon stock over time.
Current vs Lagged Prices |
| Timeline |
First Horizon Lagged Returns
When evaluating First Horizon's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of First Horizon stock have on its future price. First Horizon autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, First Horizon autocorrelation shows the relationship between First Horizon stock current value and its past values and can show if there is a momentum factor associated with investing in First Horizon National.
Regressed Prices |
| Timeline |
Pair Trading with First Horizon
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if First Horizon position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in First Horizon will appreciate offsetting losses from the drop in the long position's value.Moving together with First Stock
| 0.94 | AX | Axos Financial | PairCorr |
| 0.92 | BY | Byline Bancorp Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.96 | PB | Prosperity Bancshares Fiscal Year End 22nd of January 2025 | PairCorr |
Moving against First Stock
| 0.61 | TFC-PO | Truist Financial | PairCorr |
| 0.59 | CFG-PE | Citizens Financial | PairCorr |
| 0.58 | TFC-PR | Truist Financial | PairCorr |
| 0.43 | WF | Woori Financial Group | PairCorr |
The ability to find closely correlated positions to First Horizon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Horizon when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back First Horizon - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling First Horizon National to buy it.
The correlation of First Horizon 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Horizon moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Horizon National moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for First Horizon can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out First Horizon Correlation, First Horizon Volatility and First Horizon Alpha and Beta module to complement your research on First Horizon. You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
First Horizon technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.