Heritage Commerce Correlations

HTBK Stock

USD 10.02 0.39 4.05%

The current 90-days correlation between Heritage Commerce Corp and Sierra Bancorp is 0.81 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Heritage Commerce moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Heritage Commerce Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Heritage Commerce Correlation With Market

Very weak diversification

The correlation between Heritage Commerce Corp and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heritage Commerce Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Heritage Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Heritage Commerce Corp. 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.

Moving together with Heritage Stock

0.63	AX	Axos Financial	Pair Corr
0.92	BY	Byline Bancorp	Pair Corr
0.62	RF	Regions Financial Earnings Call This Week	Pair Corr
0.71	VABK	Virginia National Normal Trading	Pair Corr
0.8	VBTX	Veritex Holdings Earnings Call This Week	Pair Corr
0.67	601658	Postal Savings Bank	Pair Corr
0.92	EBMT	Eagle Bancorp Montana	Pair Corr
0.92	EFSC	Enterprise Financial	Pair Corr
0.73	EGBN	Eagle Bancorp Earnings Call This Week	Pair Corr
0.7	WABC	Westamerica Bancorporation Earnings Call Tomorrow	Pair Corr
0.78	WAFD	Washington Federal Earnings Call Today	Pair Corr
0.91	WASH	Washington Trust Bancorp Earnings Call This Week	Pair Corr
0.84	EQBK	Equity Bancshares, Normal Trading	Pair Corr
0.85	EWBC	East West Bancorp Earnings Call This Week	Pair Corr
0.69	WSBC	WesBanco Earnings Call This Week	Pair Corr
0.66	WSFS	WSFS Financial	Pair Corr
0.82	WTBA	West Bancorporation	Pair Corr
0.83	WTFC	Wintrust Financial Earnings Call This Week	Pair Corr
0.92	FBIZ	First Business Financial	Pair Corr

Moving against Heritage Stock

0.34

TMB

Tamilnad Mercantile Bank

Pair Corr

Related Correlations Analysis

	BSRR	CWBC	HBNC	HFWA
BSRR		0.59	0.51	0.7	BSRR
CWBC	0.59		0.79	0.86	CWBC
HBNC	0.51	0.79		0.72	HBNC
HFWA	0.7	0.86	0.72		HFWA
	BSRR	CWBC	HBNC	HFWA

Risk-Adjusted Indicators

There is a big difference between Heritage Stock performing well and Heritage Commerce 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 Heritage Commerce'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
BSRR	1.25	(0.23)	0.00	(0.07)	0.00	0.00	3.04	(2.57)	9.48
CWBC	1.09	(0.08)	(0.03)	0.00	1.26	(1.36)	2.79	(2.21)	9.23
HBNC	1.32	(0.06)	(0.01)	0.02	1.78	(1.40)	4.38	(3.07)	10.14
HFWA	1.28	(0.20)	0.00	(0.05)	0.00	0.00	3.26	(2.77)	9.08

Heritage Commerce Corporate Management

Diana Olveira	VP Director	Profile
Sachin Vaidya	Executive Officer	Profile
Glen Shu	Executive Group	Profile
Deborah Reuter	Executive Officer	Profile
Seth Fonti	Executive Officer	Profile

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