Correlation Between FNB Corp and Bank First

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both FNB Corp and Bank First at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining FNB Corp and Bank First into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FNB Corp and Bank First National, you can compare the effects of market volatilities on FNB Corp and Bank First and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in FNB Corp with a short position of Bank First. Check out your portfolio center. Please also check ongoing floating volatility patterns of FNB Corp and Bank First.

Diversification Opportunities for FNB Corp and Bank First

-0.02
  Correlation Coefficient

Good diversification

The 3 months correlation between FNB Corp and Bank First is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding FNB Corp and Bank First National in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank First National and FNB Corp is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on FNB Corp are associated (or correlated) with Bank First. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank First National has no effect on the direction of FNB Corp i.e., FNB Corp and Bank First go up and down completely randomly.

Pair Corralation between FNB Corp and Bank First

Considering the 90-day investment horizon FNB Corp is expected to generate 9.48 times less return on investment than Bank First. In addition to that, FNB Corp is 1.48 times more volatile than Bank First National. It trades about 0.0 of its total potential returns per unit of risk. Bank First National is currently generating about 0.03 per unit of volatility. If you would invest  6,843  in Bank First National on March 31, 2022 and sell it today you would earn a total of  602.00  from holding Bank First National or generate 8.8% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

FNB Corp  vs.  Bank First National

 Performance (%) 
      Timeline 
FNB Corp 
FNB Corp Performance
0 of 100
Over the last 90 days FNB Corp has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Stock's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.

Structure and Payout Changes

Forward Annual Dividend Yield
0.0439
Payout Ratio
0.4
Last Split Factor
105:100
Forward Annual Dividend Rate
0.48
Dividend Date
2022-06-15
Ex Dividend Date
2022-06-02
Last Split Date
2003-05-13

FNB Corp Price Channel

Bank First National 
Bank First Performance
4 of 100
Compared to the overall equity markets, risk-adjusted returns on investments in Bank First National are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. Despite somewhat strong technical and fundamental indicators, Bank First is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Structure and Payout Changes

Forward Annual Dividend Yield
0.0115
Payout Ratio
0.2
Last Split Factor
2:1
Forward Annual Dividend Rate
0.88
Dividend Date
2022-07-06
Ex Dividend Date
2022-06-21
Last Split Date
2002-10-21

Bank First Price Channel

FNB Corp and Bank First Volatility Contrast

 Predicted Return Density 
      Returns 

Pair Trading with FNB Corp and Bank First

The main advantage of trading using opposite FNB Corp and Bank First positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FNB Corp position performs unexpectedly, Bank First can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Bank First will offset losses from the drop in Bank First's long position.
The idea behind FNB Corp and Bank First National pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
Check out your portfolio center. Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.

Other Complementary Tools

Portfolio Holdings
Check your current holdings and cash postion to detemine if your portfolio needs rebalancing
Go
Technical Analysis
Check basic technical indicators and analysis based on most latest market data
Go
Portfolio Center
All portfolio management and optimization tools to improve performance of your portfolios
Go
Portfolio Anywhere
Track or share privately all of your investments from the convenience of any device
Go
Bond Directory
Find actively traded corporate debentures issued by US companies
Go
Content Syndication
Quickly integrate customizable finance content to your own investment portal
Go
Equity Forecasting
Use basic forecasting models to generate price predictions and determine price momentum
Go
Portfolio File Import
Quickly import all of your third-party portfolios from your local drive in csv format
Go
Headlines Timeline
Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity
Go
Stock Tickers
Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
Go
Fundamentals Comparison
Compare fundamentals across multiple equities to find investing opportunities
Go