Eastern Bankshares Correlations

EBC Stock

USD 18.76 0.27 1.42%

The current 90-days correlation between Eastern Bankshares and Independent Bank is 0.84 (i.e., Very poor diversification). The correlation of Eastern Bankshares 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.

Eastern Bankshares Correlation With Market

Good diversification

The correlation between Eastern Bankshares and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eastern Bankshares and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eastern Bankshares. 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.

For information on how to trade Eastern Stock refer to our How to Trade Eastern Stock guide.

Moving together with Eastern Stock

0.92	AX	Axos Financial	Pair Corr
0.9	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.92	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.9	RF	Regions Financial Sell-off Trend	Pair Corr
0.84	VBNK	VersaBank Fiscal Year End 11th of December 2024	Pair Corr
0.85	VBTX	Veritex Holdings Normal Trading	Pair Corr
0.69	TECTP	Tectonic Financial	Pair Corr
0.69	EBMT	Eagle Bancorp Montana Normal Trading	Pair Corr
0.87	EBTC	Enterprise Bancorp	Pair Corr
0.9	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.8	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.89	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.67	WAFD	Washington Federal	Pair Corr
0.82	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.7	BANC-PF	Banc of California	Pair Corr
0.89	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.69	ESSA	ESSA Bancorp	Pair Corr
0.74	EVBN	Evans Bancorp	Pair Corr
0.65	WSBCP	WesBanco	Pair Corr
0.77	WMPN	William Penn Bancorp	Pair Corr

Moving against Eastern Stock

0.61	CFG-PE	Citizens Financial	Pair Corr
0.56	TFC-PO	Truist Financial	Pair Corr
0.54	TFC-PR	Truist Financial	Pair Corr
0.44	WAFDP	Washington Federal	Pair Corr

Related Correlations Analysis

	WNEB	NECB	INDB	FBMS	BRKL	HTBK	CATC	HONE	SFBC	ISTR
WNEB		0.51	0.79	0.84	0.74	0.81	0.33	0.47	-0.06	0.7	WNEB
NECB	0.51		0.76	0.71	0.83	0.53	0.66	0.26	0.09	0.91	NECB
INDB	0.79	0.76		0.94	0.97	0.87	0.39	0.42	-0.02	0.9	INDB
FBMS	0.84	0.71	0.94		0.91	0.93	0.32	0.5	-0.08	0.91	FBMS
BRKL	0.74	0.83	0.97	0.91		0.82	0.48	0.31	0.01	0.95	BRKL
HTBK	0.81	0.53	0.87	0.93	0.82		0.28	0.57	-0.06	0.78	HTBK
CATC	0.33	0.66	0.39	0.32	0.48	0.28		0.09	0.03	0.57	CATC
HONE	0.47	0.26	0.42	0.5	0.31	0.57	0.09		-0.09	0.34	HONE
SFBC	-0.06	0.09	-0.02	-0.08	0.01	-0.06	0.03	-0.09		0.02	SFBC
ISTR	0.7	0.91	0.9	0.91	0.95	0.78	0.57	0.34	0.02		ISTR
	WNEB	NECB	INDB	FBMS	BRKL	HTBK	CATC	HONE	SFBC	ISTR

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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

BRKL	+ 0.97	INDB
ISTR	+ 0.95	BRKL
FBMS	+ 0.94	INDB
HTBK	+ 0.93	FBMS
ISTR	+ 0.91	NECB
BRKL	+ 0.91	FBMS

High negative correlations

SFBC	- 0.09	HONE
SFBC	- 0.08	FBMS
SFBC	- 0.06	HTBK
SFBC	- 0.06	WNEB
SFBC	- 0.02	INDB

Risk-Adjusted Indicators

There is a big difference between Eastern Stock performing well and Eastern Bankshares 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 Eastern Bankshares' 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
WNEB	0.79	0.04	(0.01)	0.20	0.65	(1.16)	2.77	(1.35)	7.14
NECB	1.67	0.44	0.17	1.90	1.72	(1.93)	3.59	(3.21)	12.18
INDB	1.58	0.24	0.09	0.96	1.53	(1.79)	2.97	(2.90)	18.58
FBMS	1.61	(0.04)	0.05	0.10	1.57	(1.97)	3.88	(3.51)	16.66
BRKL	1.36	0.38	0.17	(9.46)	1.16	(1.57)	3.72	(2.11)	14.18
HTBK	1.42	(0.11)	0.01	0.06	1.42	(1.81)	2.93	(2.24)	17.09
CATC	1.49	0.16	0.04	0.68	1.59	(1.68)	3.56	(2.51)	7.89
HONE	1.72	(0.21)	(0.02)	0.02	3.12	(1.62)	3.90	(3.26)	18.56
SFBC	1.30	0.21	0.05	(1.14)	1.24	(1.79)	3.30	(2.45)	11.33
ISTR	1.46	0.22	0.19	0.24	1.11	(1.66)	3.41	(2.50)	17.09

Eastern Bankshares Corporate Management

Danielle Hackel	Executive Officer	Profile
Andrew Ravens	Corporate Manager	Profile
Gregory Buscone	Executive Officer	Profile
Steven Antonakes	Executive Management	Profile
Barbara Heinemann	Executive Banking	Profile
Donald Westermann	Executive Officer	Profile

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