Eastern Correlations

EML Stock

USD 23.96 0.13 0.54%

The current 90-days correlation between Eastern and Enterprise Bancorp is -0.17 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eastern moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eastern Co moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Eastern Correlation With Market

Very weak diversification

The correlation between Eastern Co and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eastern Co and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Eastern Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eastern Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Eastern Stock

0.61

Air Lease

Pair Corr

Moving against Eastern Stock

0.34

Waste Management

Pair Corr

Related Correlations Analysis

	KMT	HLMN	SKFRY	EBTC	FBIZ	ESSA	OFLX
KMT		-0.43	-0.11	0.07	0.36	-0.15	0.23	KMT
HLMN	-0.43		0.87	0.67	0.13	0.2	0.31	HLMN
SKFRY	-0.11	0.87		0.73	0.37	0.21	0.54	SKFRY
EBTC	0.07	0.67	0.73		0.24	0.25	0.23	EBTC
FBIZ	0.36	0.13	0.37	0.24		-0.03	0.79	FBIZ
ESSA	-0.15	0.2	0.21	0.25	-0.03		0.02	ESSA
OFLX	0.23	0.31	0.54	0.23	0.79	0.02		OFLX
	KMT	HLMN	SKFRY	EBTC	FBIZ	ESSA	OFLX

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

SKFRY	+ 0.87	HLMN
OFLX	+ 0.79	FBIZ
EBTC	+ 0.73	SKFRY
EBTC	+ 0.67	HLMN
OFLX	+ 0.54	SKFRY
FBIZ	+ 0.37	SKFRY

High negative correlations

HLMN	- 0.43	KMT
ESSA	- 0.15	KMT
SKFRY	- 0.11	KMT
ESSA	- 0.03	FBIZ

Risk-Adjusted Indicators

There is a big difference between Eastern Stock performing well and Eastern 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 Eastern'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
KMT	1.55	(0.06)	0.00	0.05	3.49	(1.55)	3.21	(2.11)	22.47
HLMN	2.10	0.32	0.21	0.24	1.61	(2.69)	4.97	(3.09)	22.74
SKFRY	1.20	0.14	0.11	0.22	1.20	(1.34)	2.64	(2.01)	7.60
EBTC	1.47	(0.03)	(0.03)	0.02	2.29	(1.53)	3.33	(3.00)	11.98
FBIZ	1.28	(0.02)	0.03	0.08	1.51	(1.55)	3.20	(2.69)	9.93
ESSA	341.66	190.43	4.95	(1.09)	21.18	(446.33)	2,913	(96.53)	3,176
OFLX	2.05	(0.08)	0.04	0.06	2.19	(2.43)	4.68	(4.19)	14.80

Eastern Corporate Management

Peter OHara	Chief Officer	Profile
Jeffrey Fleming	Managing Eberhard	Profile
Ernie Hawkins	Executive Officer	Profile
Christopher Moulton	Head Relations	Profile

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