OceanFirst Financial Correlations

OCFC Stock

USD 19.94 0.06 0.30%

The current 90-days correlation between OceanFirst Financial Corp and JPMorgan Chase Co is 0.78 (i.e., Poor diversification). The correlation of OceanFirst Financial 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.

OceanFirst Financial Correlation With Market

Poor diversification

The correlation between OceanFirst Financial Corp and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OceanFirst Financial Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OceanFirst Financial Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with OceanFirst Stock

0.93	AX	Axos Financial	Pair Corr
0.96	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
0.96	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.71	VABK	Virginia National	Pair Corr
0.89	VBNK	VersaBank Earnings Call Tomorrow	Pair Corr
0.96	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.75	TECTP	Tectonic Financial	Pair Corr
0.85	EBMT	Eagle Bancorp Montana Fiscal Year End 28th of January 2025	Pair Corr
0.9	EBTC	Enterprise Bancorp Normal Trading	Pair Corr
0.64	ECBK	ECB 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
0.61	KEY-PJ	KeyCorp	Pair Corr
0.69	KEY-PK	KeyCorp	Pair Corr
0.72	KEY-PL	KeyCorp	Pair Corr
0.95	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.81	WAFD	Washington Federal	Pair Corr
0.91	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.74	BANC-PF	Banc of California	Pair Corr
0.96	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.89	ESSA	ESSA Bancorp	Pair Corr
0.96	EVBN	Evans Bancorp	Pair Corr
0.78	WSBCP	WesBanco	Pair Corr
0.87	WMPN	William Penn Bancorp	Pair Corr
0.83	WNEB	Western New England Fiscal Year End 28th of January 2025	Pair Corr

Moving against OceanFirst Stock

0.69	CFG-PE	Citizens Financial	Pair Corr
0.63	TFC-PO	Truist Financial	Pair Corr
0.63	TFC-PR	Truist Financial	Pair Corr
0.56	WAFDP	Washington Federal	Pair Corr
0.45	FRCIL	First Republic Bank	Pair Corr
0.43	FRCCL	First Republic Bank	Pair Corr
0.43	FRCHL	First Republic Bank	Pair Corr
0.43	FRCKL	First Republic Bank	Pair Corr
0.43	FRCML	First Republic Bank	Pair Corr
0.42	FRCLL	First Republic Bank	Pair Corr

Related Correlations Analysis

	JPM	C	WFC	TD	BAC	RY	HSBC
JPM		0.94	0.99	-0.81	0.99	0.64	0.76	JPM
C	0.94		0.93	-0.71	0.95	0.61	0.84	C
WFC	0.99	0.93		-0.83	0.99	0.62	0.76	WFC
TD	-0.81	-0.71	-0.83		-0.78	-0.63	-0.61	TD
BAC	0.99	0.95	0.99	-0.78		0.64	0.75	BAC
RY	0.64	0.61	0.62	-0.63	0.64		0.56	RY
HSBC	0.76	0.84	0.76	-0.61	0.75	0.56		HSBC
	JPM	C	WFC	TD	BAC	RY	HSBC

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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

WFC	+ 0.99	JPM
BAC	+ 0.99	JPM
BAC	+ 0.99	WFC
BAC	+ 0.95	C
C	+ 0.94	JPM
WFC	+ 0.93	C

High negative correlations

TD	- 0.83	WFC
TD	- 0.81	JPM
BAC	- 0.78	TD
TD	- 0.71	C
RY	- 0.63	TD
HSBC	- 0.61	TD

Risk-Adjusted Indicators

There is a big difference between OceanFirst Stock performing well and OceanFirst Financial 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 OceanFirst Financial'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
JPM	1.08	(0.02)	0.05	0.10	1.30	(1.20)	1.73	(1.44)	15.87
C	1.34	0.10	0.13	0.17	1.29	(1.53)	3.56	(1.93)	10.33
WFC	1.49	0.20	0.22	0.21	1.12	(1.77)	3.60	(2.11)	16.76
TD	0.86	(0.27)	0.00	(0.37)	0.00	0.00	1.18	(1.59)	9.62
BAC	1.04	0.06	0.14	0.16	0.59	(1.31)	2.20	(1.42)	10.22
RY	0.65	0.00	(0.10)	0.12	0.66	(0.76)	1.49	(0.93)	4.25
HSBC	0.89	0.13	0.03	0.79	1.18	(0.91)	1.82	(1.54)	6.87

OceanFirst Financial Corporate Management

Steven Esq	General VP	Profile
CISSP CISA	Senior Officer	Profile
Chad Dally	Defense Aerospace	Profile
David Berninger	Executive CRO	Profile
Patrick Barrett	CFO VP	Profile

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