First Business Correlations

FBIZ Stock

USD 50.12 0.39 0.77%

The current 90-days correlation between First Business Financial and HMN Financial is 0.09 (i.e., Significant diversification). The correlation of First Business 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.

First Business Correlation With Market

Poor diversification

The correlation between First Business Financial and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Business Financial 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 First Business Financial. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with First Stock

0.97	AX	Axos Financial	Pair Corr
0.97	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.96	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.93	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.72	VABK	Virginia National	Pair Corr
0.82	VBNK	VersaBank Normal Trading	Pair Corr
0.89	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.67	TECTP	Tectonic Financial	Pair Corr
0.68	EBMT	Eagle Bancorp Montana Normal Trading	Pair Corr
0.94	EBTC	Enterprise Bancorp	Pair Corr
0.97	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.83	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.95	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.74	WAFD	Washington Federal	Pair Corr
0.88	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.75	BANC-PF	Banc of California	Pair Corr
0.93	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.8	ESSA	ESSA Bancorp	Pair Corr
0.8	EVBN	Evans Bancorp	Pair Corr
0.63	WSBCP	WesBanco	Pair Corr

Moving against First Stock

0.56	CFG-PE	Citizens Financial	Pair Corr
0.51	TFC-PO	Truist Financial	Pair Corr
0.5	TFC-PR	Truist Financial	Pair Corr
0.41	WAFDP	Washington Federal	Pair Corr

Related Correlations Analysis

	CULL	HMNF	HFBL	HVBC	LSBK	OFED	CIZN	OPOF	PKBK	LNKB
CULL		-0.5	0.09	-0.54	-0.28	0.36	0.39	-0.48	-0.47	-0.47	CULL
HMNF	-0.5		-0.16	0.4	0.27	-0.34	-0.62	0.41	0.64	0.55	HMNF
HFBL	0.09	-0.16		0.08	0.21	-0.27	-0.06	0.2	0.06	0.06	HFBL
HVBC	-0.54	0.4	0.08		0.35	-0.25	-0.33	0.41	0.45	0.38	HVBC
LSBK	-0.28	0.27	0.21	0.35		-0.7	-0.49	0.66	0.57	0.56	LSBK
OFED	0.36	-0.34	-0.27	-0.25	-0.7		0.72	-0.82	-0.63	-0.67	OFED
CIZN	0.39	-0.62	-0.06	-0.33	-0.49	0.72		-0.69	-0.65	-0.65	CIZN
OPOF	-0.48	0.41	0.2	0.41	0.66	-0.82	-0.69		0.76	0.79	OPOF
PKBK	-0.47	0.64	0.06	0.45	0.57	-0.63	-0.65	0.76		0.95	PKBK
LNKB	-0.47	0.55	0.06	0.38	0.56	-0.67	-0.65	0.79	0.95		LNKB
	CULL	HMNF	HFBL	HVBC	LSBK	OFED	CIZN	OPOF	PKBK	LNKB

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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

LNKB	+ 0.95	PKBK
LNKB	+ 0.79	OPOF
PKBK	+ 0.76	OPOF
CIZN	+ 0.72	OFED
OPOF	+ 0.66	LSBK
PKBK	+ 0.64	HMNF

High negative correlations

OPOF	- 0.82	OFED
OFED	- 0.7	LSBK
OPOF	- 0.69	CIZN
LNKB	- 0.67	OFED
LNKB	- 0.65	CIZN
PKBK	- 0.65	CIZN

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Business 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 First Business' 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
CULL	0.51	(0.12)	0.00	39.32	0.00	0.00	1.18	(1.64)	4.73
HMNF	1.88	0.36	0.12	1.37	1.85	(2.37)	4.29	(3.19)	13.15
HFBL	1.56	(0.16)	0.00	(0.27)	0.00	0.00	3.75	(4.31)	17.43
HVBC	1.51	0.33	0.08	2.99	2.03	(1.59)	2.68	(4.11)	18.63
LSBK	1.19	0.08	0.00	0.41	1.38	(1.57)	3.69	(3.23)	8.64
OFED	2.13	(0.20)	0.00	0.69	0.00	0.00	3.48	(5.28)	12.66
CIZN	0.88	(0.08)	0.00	1.74	0.00	0.00	3.00	(2.14)	6.16
OPOF	1.23	0.13	0.03	0.45	1.51	(1.38)	3.20	(2.21)	6.43
PKBK	1.06	0.07	0.07	0.17	1.07	(1.13)	2.28	(1.88)	9.72
LNKB	1.64	0.13	0.10	0.21	1.33	(2.22)	3.72	(2.38)	10.82

First Business Corporate Management

Bradley Quade	Chief Officer	Profile
Bill Elliott	LLC Finance	Profile
Daniel Ovokaitys	Chief Officer	Profile
Barbara JD	G Counsel	Profile
Theresa Wiese	Managing Management	Profile

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