Berkshire Hills Correlations

BHLB Stock

USD 30.61 0.30 0.99%

The current 90-days correlation between Berkshire Hills Bancorp and National Bank Holdings is 0.85 (i.e., Very poor diversification). The correlation of Berkshire Hills 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.

Berkshire Hills Correlation With Market

Poor diversification

The correlation between Berkshire Hills Bancorp and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Berkshire Hills Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Berkshire Hills 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 economic analysis.

Moving together with Berkshire Stock

0.99	AX	Axos Financial	Pair Corr
0.98	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.98	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.97	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.7	VABK	Virginia National	Pair Corr
0.62	VBFC	Village Bank	Pair Corr
0.92	VBNK	VersaBank	Pair Corr
0.97	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.78	TECTP	Tectonic Financial	Pair Corr
0.87	EBMT	Eagle Bancorp Montana Fiscal Year End 28th of January 2025	Pair Corr
0.9	EBTC	Enterprise Bancorp Normal Trading	Pair Corr
0.65	ECBK	ECB Bancorp	Pair Corr
0.99	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.94	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.65	KEY-PK	KeyCorp	Pair Corr
0.74	KEY-PL	KeyCorp	Pair Corr
0.98	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.8	WAFD	Washington Federal	Pair Corr
0.93	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.78	BANC-PF	Banc of California	Pair Corr
0.98	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.89	ESSA	ESSA Bancorp	Pair Corr
0.98	EVBN	Evans Bancorp	Pair Corr
0.83	WSBCP	WesBanco	Pair Corr
0.88	WMPN	William Penn Bancorp	Pair Corr
0.85	WNEB	Western New England Fiscal Year End 28th of January 2025	Pair Corr

Moving against Berkshire Stock

0.78	CFG-PE	Citizens Financial	Pair Corr
0.7	TFC-PO	Truist Financial	Pair Corr
0.7	TFC-PR	Truist Financial	Pair Corr
0.36	WF	Woori Financial Group	Pair Corr
0.65	WAFDP	Washington Federal	Pair Corr
0.46	FRCIL	First Republic Bank	Pair Corr
0.41	FRCCL	First Republic Bank	Pair Corr
0.41	FRCHL	First Republic Bank	Pair Corr
0.41	FRCKL	First Republic Bank	Pair Corr
0.41	FRCML	First Republic Bank	Pair Corr
0.4	FRCLL	First Republic Bank	Pair Corr

Related Correlations Analysis

	FNWD	CWBC	FCCO	FCAP	NBHC	NBTB	FISI	FDBC	CATC	SMBC
FNWD		-0.24	0.13	0.52	0.2	-0.02	0.04	-0.14	0.26	0.19	FNWD
CWBC	-0.24		0.78	-0.77	0.66	0.85	0.79	0.67	0.2	0.71	CWBC
FCCO	0.13	0.78		-0.54	0.9	0.88	0.7	0.75	0.53	0.92	FCCO
FCAP	0.52	-0.77	-0.54		-0.4	-0.61	-0.47	-0.51	-0.29	-0.46	FCAP
NBHC	0.2	0.66	0.9	-0.4		0.83	0.75	0.82	0.37	0.96	NBHC
NBTB	-0.02	0.85	0.88	-0.61	0.83		0.8	0.71	0.4	0.89	NBTB
FISI	0.04	0.79	0.7	-0.47	0.75	0.8		0.74	0.22	0.81	FISI
FDBC	-0.14	0.67	0.75	-0.51	0.82	0.71	0.74		0.14	0.77	FDBC
CATC	0.26	0.2	0.53	-0.29	0.37	0.4	0.22	0.14		0.5	CATC
SMBC	0.19	0.71	0.92	-0.46	0.96	0.89	0.81	0.77	0.5		SMBC
	FNWD	CWBC	FCCO	FCAP	NBHC	NBTB	FISI	FDBC	CATC	SMBC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

SMBC	+ 0.96	NBHC
SMBC	+ 0.92	FCCO
NBHC	+ 0.9	FCCO
SMBC	+ 0.89	NBTB
NBTB	+ 0.88	FCCO
NBTB	+ 0.85	CWBC

High negative correlations

FCAP	- 0.77	CWBC
NBTB	- 0.61	FCAP
FCAP	- 0.54	FCCO
FDBC	- 0.51	FCAP
FISI	- 0.47	FCAP
SMBC	- 0.46	FCAP

Risk-Adjusted Indicators

There is a big difference between Berkshire Stock performing well and Berkshire Hills 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 Berkshire Hills' 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
FNWD	1.04	0.12	0.05	0.41	0.84	(1.32)	2.57	(1.90)	12.55
CWBC	1.03	(0.03)	0.00	0.09	1.15	(1.12)	2.53	(2.16)	9.14
FCCO	1.22	0.21	0.14	0.33	0.96	(1.34)	3.05	(2.20)	10.76
FCAP	1.78	(0.08)	(0.05)	0.01	1.90	(2.47)	6.30	(3.53)	14.42
NBHC	1.53	(0.02)	0.06	0.11	1.54	(1.79)	2.63	(2.65)	17.62
NBTB	1.38	0.18	0.04	5.06	1.49	(1.49)	2.53	(2.21)	17.44
FISI	1.63	(0.15)	0.01	0.05	1.82	(1.83)	3.83	(3.22)	18.30
FDBC	1.84	(0.13)	(0.02)	0.04	2.21	(2.04)	4.99	(3.62)	11.89
CATC	1.49	0.21	0.05	(1.19)	1.59	(1.68)	3.56	(2.51)	7.89
SMBC	1.51	0.01	0.09	0.12	1.59	(1.73)	3.46	(3.04)	19.16

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC