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.
Western |
Moving together with Western Stock
0.73 | MBCN | Middlefield Banc Fiscal Year End 24th of January 2025 | PairCorr |
0.64 | MBIN | Merchants Bancorp | PairCorr |
0.75 | MCBS | MetroCity Bankshares | PairCorr |
0.79 | DB | Deutsche Bank AG | PairCorr |
0.73 | RF-PC | Regions Financial | PairCorr |
0.72 | RF-PE | Regions Financial | PairCorr |
0.68 | RF-PF | Regions Financial | PairCorr |
0.82 | NU | Nu Holdings Aggressive Push | PairCorr |
0.8 | PB | Prosperity Bancshares Fiscal Year End 22nd of January 2025 | PairCorr |
0.83 | RF | Regions Financial Fiscal Year End 17th of January 2025 | PairCorr |
0.81 | WF | Woori Financial Group | PairCorr |
0.74 | VABK | Virginia National | PairCorr |
0.73 | VBNK | VersaBank Normal Trading | PairCorr |
0.74 | VBTX | Veritex Holdings Fiscal Year End 28th of January 2025 | PairCorr |
0.63 | TECTP | Tectonic Financial | PairCorr |
0.8 | MOFG | MidWestOne Financial Fiscal Year End 23rd of January 2025 | PairCorr |
0.76 | TFC-PO | Truist Financial | PairCorr |
0.75 | TFC-PR | Truist Financial | PairCorr |
0.61 | MSBC | Mission Bancorp | PairCorr |
0.7 | MSBI | Midland States Bancorp Normal Trading | PairCorr |
0.68 | WAL-PA | Western Alliance Ban | PairCorr |
0.73 | MYFW | First Western Financial Fiscal Year End 23rd of January 2025 | PairCorr |
0.76 | EBMT | Eagle Bancorp Montana Fiscal Year End 28th of January 2025 | PairCorr |
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
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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 | ||
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IROQ | 1.10 | 0.35 | 0.19 | (6.02) | 0.99 | 3.24 | 11.15 | |||
SHBI | 1.20 | (0.04) | (0.01) | 0.01 | 1.52 | 3.01 | 8.87 | |||
CBAN | 1.22 | (0.06) | (0.02) | 0.00 | 1.81 | 2.50 | 8.14 | |||
ISTR | 1.43 | 0.14 | 0.07 | 0.14 | 1.94 | 3.41 | 8.29 | |||
CRZBF | 1.20 | 0.12 | 0.01 | 0.22 | 2.52 | 2.93 | 21.75 | |||
OFED | 2.13 | (0.24) | 0.00 | 3.27 | 0.00 | 3.48 | 12.66 | |||
SMBC | 1.63 | 0.09 | 0.06 | 0.09 | 1.98 | 4.99 | 10.64 | |||
CWBC | 1.04 | (0.18) | 0.00 | (0.12) | 0.00 | 2.05 | 8.91 | |||
CULL | 0.51 | (0.12) | 0.00 | (0.79) | 0.00 | 1.18 | 4.73 | |||
HMNF | 1.88 | 0.39 | 0.15 | 4.83 | 1.85 | 4.29 | 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 |