First Bancorp Correlations

FBP Stock

USD 20.66 0.94 4.35%

The current 90-days correlation between First Bancorp and Fulton Financial is -0.38 (i.e., Very good diversification). The correlation of First Bancorp 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.

First Bancorp Correlation With Market

Poor diversification

The correlation between First Bancorp and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Stock

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

To learn how to invest in First Stock, please use our How to Invest in First Bancorp guide.

Moving together with First Stock

0.62	BIRG	Bank of Ireland	Pair Corr
0.62	WBCPM	Westpac Banking	Pair Corr
0.69	NPB	Northpointe Bancshares	Pair Corr
0.7	BOQPG	Bank of Queensland	Pair Corr
0.89	MSBI	Midland States Bancorp	Pair Corr
0.76	MBLPD	Macquarie Bank	Pair Corr
0.85	VBNK	VersaBank	Pair Corr
0.79	LB	Laurentian Bank	Pair Corr
0.71	BFL	BSP Financial Group	Pair Corr
0.78	SMBK	SmartFinancial Downward Rally	Pair Corr
0.64	AEM	Agnico Eagle Mines	Pair Corr
0.75	AIZ	Assurant	Pair Corr
0.79	AAL	American Airlines Earnings Call This Week	Pair Corr
0.8	FIVE	Five Below	Pair Corr
0.7	FCAP	First Capital	Pair Corr
0.69	KEYS	Keysight Technologies	Pair Corr
0.72	KGC	Kinross Gold Aggressive Push	Pair Corr

Moving against First Stock

0.86	ROBOF	RoboGroup TEK	Pair Corr
0.8	BETRW	Better Home Finance	Pair Corr
0.78	601665	Qilu Bank	Pair Corr
0.77	601658	Postal Savings Bank	Pair Corr
0.63	CDIV	Cascadia Investments	Pair Corr
0.55	EQC	Equity Commonwealth	Pair Corr
0.62	AUHIF	Advance United Holdings	Pair Corr

Related Correlations Analysis

	FULT	CATY	BKU	FHB	RNST	ASB	WSBC	WBS	WSFS	FIBK
FULT		0.87	0.87	0.94	0.87	0.92	0.93	0.97	0.82	0.94	FULT
CATY	0.87		0.93	0.86	0.97	0.88	0.97	0.91	0.94	0.92	CATY
BKU	0.87	0.93		0.92	0.89	0.85	0.91	0.92	0.92	0.92	BKU
FHB	0.94	0.86	0.92		0.84	0.91	0.88	0.95	0.85	0.94	FHB
RNST	0.87	0.97	0.89	0.84		0.89	0.96	0.86	0.92	0.89	RNST
ASB	0.92	0.88	0.85	0.91	0.89		0.91	0.92	0.86	0.88	ASB
WSBC	0.93	0.97	0.91	0.88	0.96	0.91		0.94	0.92	0.95	WSBC
WBS	0.97	0.91	0.92	0.95	0.86	0.92	0.94		0.85	0.96	WBS
WSFS	0.82	0.94	0.92	0.85	0.92	0.86	0.92	0.85		0.87	WSFS
FIBK	0.94	0.92	0.92	0.94	0.89	0.88	0.95	0.96	0.87		FIBK
	FULT	CATY	BKU	FHB	RNST	ASB	WSBC	WBS	WSFS	FIBK

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Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Bancorp 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 First Bancorp'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
FULT	1.25	0.30	0.20	0.77	1.00	(1.49)	3.25	(1.65)	7.45
CATY	1.11	0.06	0.04	0.14	1.22	(1.32)	3.14	(2.03)	6.62
BKU	1.23	0.33	0.23	0.36	1.10	(1.54)	3.30	(1.53)	8.77
FHB	1.15	0.25	0.21	0.48	0.79	(1.40)	3.23	(1.50)	7.16
RNST	1.04	0.04	0.03	0.11	1.24	(1.16)	2.73	(2.14)	5.64
ASB	1.08	0.16	0.11	0.39	0.99	(1.39)	3.48	(1.49)	8.56
WSBC	1.24	0.09	0.07	0.15	1.38	(1.42)	2.95	(2.10)	6.36
WBS	1.02	0.29	0.21	0.93	0.84	(1.21)	2.80	(1.70)	5.74
WSFS	1.01	0.09	0.06	0.17	1.12	(1.13)	2.38	(1.40)	6.58
FIBK	1.28	0.17	0.13	0.18	1.37	(1.47)	2.88	(2.01)	7.47

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