ConnectOne Bancorp Correlations

Preferred Stocks . USA . 
Preferred Stock . ConnectOne Bancorp
CNOBP Preferred Stock  USD 22.20  0.19  0.86%   
The current 90-days correlation between ConnectOne Bancorp and KeyCorp is 0.1 (i.e., Average diversification). The correlation of ConnectOne 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.

ConnectOne Bancorp Correlation With Market

Significant diversification

The correlation between ConnectOne Bancorp and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ConnectOne Bancorp and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to ConnectOne Bancorp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ConnectOne Bancorp 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 ConnectOne Bancorp - 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 ConnectOne Bancorp to buy it.

Moving together with ConnectOne Preferred Stock

  0.67AX Axos FinancialPairCorr
  0.64BY Byline Bancorp Fiscal Year End 23rd of January 2025 PairCorr
  0.73PB Prosperity Bancshares Fiscal Year End 22nd of January 2025 PairCorr
  0.81RF Regions Financial Fiscal Year End 17th of January 2025 PairCorr
  0.62VABK Virginia NationalPairCorr
  0.83VBNK VersaBank Normal TradingPairCorr
  0.84VBTX Veritex Holdings Fiscal Year End 28th of January 2025 PairCorr
  0.72TECTP Tectonic FinancialPairCorr
  0.86EBMT Eagle Bancorp Montana Normal TradingPairCorr
  0.82EBTC Enterprise BancorpPairCorr
  0.73ECBK ECB BancorpPairCorr
  0.69CFG-PH Citizens Financial Group,PairCorr
  0.72EFSC Enterprise Financial Fiscal Year End 27th of January 2025 PairCorr
  0.77EGBN Eagle Bancorp Fiscal Year End 22nd of January 2025 PairCorr
  0.7KEY-PJ KeyCorpPairCorr
  0.79KEY-PK KeyCorpPairCorr
  0.79KEY-PL KeyCorpPairCorr
  0.66WABC Westamerica Bancorporation Fiscal Year End 16th of January 2025 PairCorr
  0.69WASH Washington Trust Bancorp Fiscal Year End 22nd of January 2025 PairCorr
  0.79EQBK Equity Bancshares, Fiscal Year End 22nd of January 2025 PairCorr
  0.82ESSA ESSA BancorpPairCorr
  0.85EVBN Evans BancorpPairCorr
  0.84WSBCP WesBancoPairCorr

Moving against ConnectOne Preferred Stock

  0.42TFC-PO Truist FinancialPairCorr
  0.34TFC-PR Truist FinancialPairCorr
  0.33CFG-PE Citizens FinancialPairCorr
  0.7FRCIL First Republic BankPairCorr
  0.63FRCCL First Republic BankPairCorr
  0.63FRCHL First Republic BankPairCorr
  0.62FRCKL First Republic BankPairCorr
  0.62FRCML First Republic BankPairCorr
  0.59FRCLL First Republic BankPairCorr
  0.39WBBW Westbury BancorpPairCorr

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   
RF-PE
+ 0.83
KEY-PK
RF-PE
+ 0.82
KEY-PI
FITBI
+ 0.77
KEY-PK
RF-PE
+ 0.71
FITBI
KEY-PK
+ 0.56
KEY-PI
FITBI
+ 0.5
KEY-PI
  
High negative correlations   
CFG-PE
- 0.1
KEY-PK
CFG-PE
- 0.07
FITBI

Risk-Adjusted Indicators

There is a big difference between ConnectOne Preferred Stock performing well and ConnectOne 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 ConnectOne 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in ConnectOne Bancorp without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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ConnectOne Bancorp Corporate Management

Joseph JavitzFirst OfficerProfile
Christopher EwingEx COOProfile
Elizabeth MagennisPres BankProfile
Siya VansiaVP MarketingProfile
Laura CriscioneCorp VPProfile
Frank IIIPres ChairmanProfile
Michael RozmanPres DivisionProfile
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