Western New Correlations

WNEB Stock

USD 8.71 0.02 0.23%

The current 90-days correlation between Western New England and IF Bancorp is 0.06 (i.e., Significant diversification). The correlation of Western New 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.

Western New Correlation With Market

Very weak diversification

The correlation between Western New England and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western New England and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Western New England. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Western Stock

0.73	MBCN	Middlefield Banc Fiscal Year End 24th of January 2025	Pair Corr
0.64	MBIN	Merchants Bancorp	Pair Corr
0.75	MCBS	MetroCity Bankshares	Pair Corr
0.79	DB	Deutsche Bank AG	Pair Corr
0.73	RF-PC	Regions Financial	Pair Corr
0.72	RF-PE	Regions Financial	Pair Corr
0.68	RF-PF	Regions Financial	Pair Corr
0.82	NU	Nu Holdings Aggressive Push	Pair Corr
0.8	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.83	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.81	WF	Woori Financial Group	Pair Corr
0.74	VABK	Virginia National	Pair Corr
0.73	VBNK	VersaBank Normal Trading	Pair Corr
0.74	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.63	TECTP	Tectonic Financial	Pair Corr
0.8	MOFG	MidWestOne Financial Fiscal Year End 23rd of January 2025	Pair Corr
0.76	TFC-PO	Truist Financial	Pair Corr
0.75	TFC-PR	Truist Financial	Pair Corr
0.61	MSBC	Mission Bancorp	Pair Corr
0.7	MSBI	Midland States Bancorp Normal Trading	Pair Corr
0.68	WAL-PA	Western Alliance Ban	Pair Corr
0.73	MYFW	First Western Financial Fiscal Year End 23rd of January 2025	Pair Corr
0.76	EBMT	Eagle Bancorp Montana Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	IROQ	SHBI	CBAN	ISTR	CRZBF	OFED	SMBC	CWBC	CULL	HMNF
IROQ		0.56	0.64	0.89	0.62	-0.85	0.72	-0.39	-0.52	0.56	IROQ
SHBI	0.56		0.86	0.83	0.42	-0.52	0.88	0.45	-0.27	0.17	SHBI
CBAN	0.64	0.86		0.82	0.45	-0.75	0.83	0.29	-0.2	0.14	CBAN
ISTR	0.89	0.83	0.82		0.64	-0.8	0.89	-0.09	-0.43	0.41	ISTR
CRZBF	0.62	0.42	0.45	0.64		-0.66	0.34	-0.31	-0.25	0.46	CRZBF
OFED	-0.85	-0.52	-0.75	-0.8	-0.66		-0.6	0.26	0.36	-0.34	OFED
SMBC	0.72	0.88	0.83	0.89	0.34	-0.6		0.13	-0.35	0.29	SMBC
CWBC	-0.39	0.45	0.29	-0.09	-0.31	0.26	0.13		0.21	-0.43	CWBC
CULL	-0.52	-0.27	-0.2	-0.43	-0.25	0.36	-0.35	0.21		-0.5	CULL
HMNF	0.56	0.17	0.14	0.41	0.46	-0.34	0.29	-0.43	-0.5		HMNF
	IROQ	SHBI	CBAN	ISTR	CRZBF	OFED	SMBC	CWBC	CULL	HMNF

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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

ISTR	+ 0.89	IROQ
SMBC	+ 0.89	ISTR
SMBC	+ 0.88	SHBI
CBAN	+ 0.86	SHBI
ISTR	+ 0.83	SHBI
SMBC	+ 0.83	CBAN

High negative correlations

OFED	- 0.85	IROQ
OFED	- 0.8	ISTR
OFED	- 0.75	CBAN
OFED	- 0.66	CRZBF
SMBC	- 0.6	OFED
OFED	- 0.52	SHBI

Risk-Adjusted Indicators

There is a big difference between Western Stock performing well and Western New 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 Western New'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
IROQ	1.10	0.35	0.19	(6.02)	0.99	(1.54)	3.24	(1.94)	11.15
SHBI	1.20	(0.04)	(0.01)	0.01	1.52	(1.45)	3.01	(2.93)	8.87
CBAN	1.22	(0.06)	(0.02)	0.00	1.81	(1.36)	2.50	(3.06)	8.14
ISTR	1.43	0.14	0.07	0.14	1.94	(1.42)	3.41	(3.09)	8.29
CRZBF	1.20	0.12	0.01	0.22	2.52	(5.13)	2.93	(3.14)	21.75
OFED	2.13	(0.24)	0.00	3.27	0.00	0.00	3.48	(5.28)	12.66
SMBC	1.63	0.09	0.06	0.09	1.98	(1.76)	4.99	(3.12)	10.64
CWBC	1.04	(0.18)	0.00	(0.12)	0.00	0.00	2.05	(2.39)	8.91
CULL	0.51	(0.12)	0.00	(0.79)	0.00	0.00	1.18	(1.64)	4.73
HMNF	1.88	0.39	0.15	4.83	1.85	(2.37)	4.29	(3.19)	13.15

Western New Corporate Management

John Bonini	Senior Counsel	Profile
Carole Hinkley	Assistant Officer	Profile
Allen III	Executive Lender	Profile
Meghan Hibner	Controller VP	Profile
Nadia Baral	VP Compliance	Profile

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