Axos Financial Correlations

AX Stock

USD 87.38 1.22 1.42%

The current 90-days correlation between Axos Financial and International Bancshares is -0.2 (i.e., Good diversification). The correlation of Axos 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Axos Financial Correlation With Market

Very weak diversification

The correlation between Axos Financial and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Axos Financial and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Axos Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Axos 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 discontinued.

For more information on how to buy Axos Stock please use our How to Invest in Axos Financial guide.

Moving together with Axos Stock

0.85	EBMT	Eagle Bancorp Montana	Pair Corr
0.8	FCAP	First Capital	Pair Corr
0.88	FFBC	First Financial Bancorp	Pair Corr
0.86	BOH	Bank of Hawaii	Pair Corr
0.78	CAC	Camden National	Pair Corr
0.79	MPB	Mid Penn Bancorp	Pair Corr
0.9	PFS	Provident Financial	Pair Corr
0.84	TFC	Truist Financial Corp	Pair Corr
0.94	WAL	Western Alliance Ban	Pair Corr
0.89	GSBC	Great Southern Bancorp	Pair Corr
0.94	HBAN	Huntington Bancshares	Pair Corr
0.86	HOMB	Home BancShares	Pair Corr
0.72	HTBK	Heritage Commerce Corp	Pair Corr
0.7	IBCP	Independent Bank	Pair Corr
0.8	MCBS	MetroCity Bankshares	Pair Corr
0.63	MGYR	Magyar Bancorp	Pair Corr
0.67	ORRF	Orrstown Financial	Pair Corr
0.81	VBNK	VersaBank	Pair Corr
0.8	PNBK	Patriot National Bancorp	Pair Corr
0.91	PNFP	Pinnacle Financial	Pair Corr
0.72	QCRH	QCR Holdings	Pair Corr
0.83	RMBI	Richmond Mutual Banc	Pair Corr
0.84	AFBI	Affinity Bancshares	Pair Corr
0.66	SBFG	SB Financial Group	Pair Corr
0.75	SMBC	Southern Missouri Bancorp	Pair Corr
0.84	SPFI	South Plains Financial	Pair Corr
0.92	BOKF	BOK Financial	Pair Corr

Moving against Axos Stock

0.63	601658	Postal Savings Bank	Pair Corr
0.54	LDI	Loandepot	Pair Corr
0.79	601665	Qilu Bank	Pair Corr
0.75	CMWCF	Cromwell Property	Pair Corr
0.45	BKRKF	PT Bank Rakyat	Pair Corr

Related Correlations Analysis

	IBOC	FFIN	HWC	IFS	WBS	ABCB	AUB	OZK	UBSI	AVAL
IBOC		0.1	0.73	0.37	0.66	0.7	0.65	0.39	0.66	0.13	IBOC
FFIN	0.1		0.11	-0.13	-0.03	0.04	0.36	0.83	-0.04	-0.81	FFIN
HWC	0.73	0.11		0.22	0.91	0.78	0.81	0.5	0.88	0.01	HWC
IFS	0.37	-0.13	0.22		0.27	0.15	0.25	0.05	0.32	0.13	IFS
WBS	0.66	-0.03	0.91	0.27		0.9	0.86	0.41	0.97	0.22	WBS
ABCB	0.7	0.04	0.78	0.15	0.9		0.78	0.35	0.91	0.31	ABCB
AUB	0.65	0.36	0.81	0.25	0.86	0.78		0.73	0.85	-0.19	AUB
OZK	0.39	0.83	0.5	0.05	0.41	0.35	0.73		0.36	-0.7	OZK
UBSI	0.66	-0.04	0.88	0.32	0.97	0.91	0.85	0.36		0.25	UBSI
AVAL	0.13	-0.81	0.01	0.13	0.22	0.31	-0.19	-0.7	0.25		AVAL
	IBOC	FFIN	HWC	IFS	WBS	ABCB	AUB	OZK	UBSI	AVAL

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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

UBSI	+ 0.97	WBS
WBS	+ 0.91	HWC
UBSI	+ 0.91	ABCB
ABCB	+ 0.9	WBS
UBSI	+ 0.88	HWC
AUB	+ 0.86	WBS

High negative correlations

AVAL	- 0.81	FFIN
AVAL	- 0.7	OZK
AVAL	- 0.19	AUB
IFS	- 0.13	FFIN
UBSI	- 0.04	FFIN
WBS	- 0.03	FFIN

Risk-Adjusted Indicators

There is a big difference between Axos Stock performing well and Axos 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 Axos 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
IBOC	1.19	(0.04)	0.00	0.28	0.00	0.00	2.64	(2.01)	7.20
FFIN	1.06	(0.22)	0.00	(0.15)	0.00	0.00	2.24	(2.57)	7.20
HWC	1.22	0.06	0.00	(2.07)	2.00	(1.39)	2.85	(4.17)	10.60
IFS	1.14	0.08	0.01	(0.61)	1.66	(1.08)	2.20	(2.88)	5.93
WBS	1.21	0.04	0.03	0.09	1.89	(1.27)	3.07	(2.15)	11.02
ABCB	1.07	(0.05)	(0.02)	0.02	1.54	(1.17)	2.52	(1.87)	9.03
AUB	1.41	(0.05)	(0.01)	0.02	1.94	(1.71)	3.79	(3.21)	10.06
OZK	1.19	(0.18)	0.00	(0.07)	0.00	0.00	2.96	(2.25)	9.90
UBSI	1.10	0.00	0.01	0.06	1.48	(1.29)	2.71	(3.19)	8.03
AVAL	1.39	0.30	0.15	0.62	1.47	(1.53)	3.15	(2.90)	9.18

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