Community Bank Correlations

CBU Stock

USD 69.60 0.46 0.66%

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

Community Bank Correlation With Market

Poor diversification

The correlation between Community Bank System and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Community Bank System 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 Community Bank System. 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.

Moving together with Community Stock

0.97	AX	Axos Financial	Pair Corr
0.96	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.97	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.96	RF	Regions Financial Sell-off Trend	Pair Corr
0.9	VBNK	VersaBank Fiscal Year End 11th of December 2024	Pair Corr
0.91	VBTX	Veritex Holdings Normal Trading	Pair Corr
0.75	TECTP	Tectonic Financial	Pair Corr
0.74	EBMT	Eagle Bancorp Montana Normal Trading	Pair Corr
0.95	EBTC	Enterprise Bancorp	Pair Corr
0.97	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.9	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.96	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.72	WAFD	Washington Federal	Pair Corr
0.92	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.66	BANC-PF	Banc of California	Pair Corr
0.94	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.76	ESSA	ESSA Bancorp	Pair Corr
0.79	EVBN	Evans Bancorp	Pair Corr
0.69	WSBCP	WesBanco	Pair Corr

Moving against Community Stock

0.67	CFG-PE	Citizens Financial	Pair Corr
0.62	TFC-PO	Truist Financial	Pair Corr
0.6	TFC-PR	Truist Financial	Pair Corr
0.36	WF	Woori Financial Group	Pair Corr
0.41	WAFDP	Washington Federal	Pair Corr

Related Correlations Analysis

	SAL	NBHC	BY	HBCP	FNWD	NFBK	CWBC	FCCO	LNKB	CATC
SAL		0.17	0.18	0.24	0.52	0.18	0.02	0.22	0.24	0.72	SAL
NBHC	0.17		0.93	0.95	0.26	0.93	0.55	0.93	0.92	0.32	NBHC
BY	0.18	0.93		0.89	0.14	0.97	0.75	0.88	0.9	0.35	BY
HBCP	0.24	0.95	0.89		0.36	0.88	0.5	0.95	0.92	0.39	HBCP
FNWD	0.52	0.26	0.14	0.36		0.17	-0.33	0.34	0.41	0.64	FNWD
NFBK	0.18	0.93	0.97	0.88	0.17		0.71	0.88	0.88	0.34	NFBK
CWBC	0.02	0.55	0.75	0.5	-0.33	0.71		0.56	0.54	0.08	CWBC
FCCO	0.22	0.93	0.88	0.95	0.34	0.88	0.56		0.93	0.41	FCCO
LNKB	0.24	0.92	0.9	0.92	0.41	0.88	0.54	0.93		0.5	LNKB
CATC	0.72	0.32	0.35	0.39	0.64	0.34	0.08	0.41	0.5		CATC
	SAL	NBHC	BY	HBCP	FNWD	NFBK	CWBC	FCCO	LNKB	CATC

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

NFBK	+ 0.97	BY
HBCP	+ 0.95	NBHC
FCCO	+ 0.95	HBCP
BY	+ 0.93	NBHC
NFBK	+ 0.93	NBHC
FCCO	+ 0.93	NBHC

High negative correlations

CWBC

- 0.33

FNWD

Risk-Adjusted Indicators

There is a big difference between Community Stock performing well and Community Bank 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 Community Bank'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
SAL	1.81	0.17	0.02	(1.88)	1.86	(2.16)	4.29	(3.33)	10.55
NBHC	1.58	0.00	0.06	0.11	1.62	(1.84)	2.64	(2.64)	17.64
BY	1.54	(0.04)	0.08	0.10	1.35	(1.98)	3.40	(2.51)	20.72
HBCP	1.61	0.06	0.07	0.15	1.76	(1.88)	3.67	(3.12)	10.19
FNWD	0.96	0.17	0.07	0.74	0.74	(1.21)	2.48	(1.80)	12.55
NFBK	1.86	(0.09)	0.05	0.08	1.84	(2.21)	4.14	(2.85)	20.29
CWBC	1.03	0.00	0.02	0.11	1.12	(1.11)	2.53	(2.16)	9.14
FCCO	1.24	0.17	0.12	0.30	1.00	(1.43)	3.05	(2.20)	10.76
LNKB	1.64	0.13	0.10	0.21	1.33	(2.22)	3.72	(2.38)	10.82
CATC	1.49	0.16	0.04	0.68	1.59	(1.68)	3.56	(2.51)	7.89

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