KeyCorp Correlations

KEY Stock

USD 16.96 0.18 1.07%

The current 90-days correlation between KeyCorp and Zions Bancorporation is 0.87 (i.e., Very poor diversification). The correlation of KeyCorp 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.

KeyCorp Correlation With Market

Good diversification

The correlation between KeyCorp and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KeyCorp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with KeyCorp Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in KeyCorp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

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

Moving together with KeyCorp Stock

0.65	EC	Ecopetrol SA ADR	Pair Corr
0.62	VZ	Verizon Communications	Pair Corr
0.62	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.67	HD	Home Depot	Pair Corr
0.71	CVX	Chevron Corp	Pair Corr

Moving against KeyCorp Stock

0.6	MSFT	Microsoft	Pair Corr
0.47	SHG	Shinhan Financial Earnings Call This Week	Pair Corr
0.31	WMT	Walmart	Pair Corr

Related Correlations Analysis

	ZION	HBAN	CMA	WAL	USB	FITB	RF	PNC
ZION		0.92	0.04	0.91	0.85	0.93	0.93	0.9	ZION
HBAN	0.92		-0.16	0.96	0.88	0.95	0.98	0.98	HBAN
CMA	0.04	-0.16		-0.09	0.23	0.1	-0.22	-0.25	CMA
WAL	0.91	0.96	-0.09		0.87	0.94	0.95	0.95	WAL
USB	0.85	0.88	0.23	0.87		0.96	0.81	0.82	USB
FITB	0.93	0.95	0.1	0.94	0.96		0.91	0.91	FITB
RF	0.93	0.98	-0.22	0.95	0.81	0.91		0.98	RF
PNC	0.9	0.98	-0.25	0.95	0.82	0.91	0.98		PNC
	ZION	HBAN	CMA	WAL	USB	FITB	RF	PNC

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

RF	+ 0.98	HBAN
PNC	+ 0.98	HBAN
PNC	+ 0.98	RF
WAL	+ 0.96	HBAN
FITB	+ 0.96	USB
FITB	+ 0.95	HBAN

High negative correlations

PNC	- 0.25	CMA
RF	- 0.22	CMA
CMA	- 0.16	HBAN
WAL	- 0.09	CMA

Risk-Adjusted Indicators

There is a big difference between KeyCorp Stock performing well and KeyCorp 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 KeyCorp'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
ZION	1.47	(0.15)	0.00	0.54	0.00	0.00	2.85	(2.74)	17.55
HBAN	1.13	(0.10)	0.00	0.52	0.00	0.00	1.92	(2.51)	9.42
CMA	1.42	0.29	0.14	1.32	1.62	(1.75)	3.35	(2.06)	19.73
WAL	1.77	(0.11)	0.00	0.37	0.00	0.00	4.13	(3.98)	17.78
USB	0.91	0.02	(0.03)	(0.07)	1.16	(0.97)	2.01	(1.92)	8.44
FITB	0.98	(0.05)	0.00	0.46	0.00	0.00	2.04	(1.61)	10.44
RF	1.07	(0.13)	0.00	3.31	0.00	0.00	2.03	(2.01)	9.58
PNC	0.96	(0.11)	0.00	0.52	0.00	0.00	1.61	(2.18)	7.86

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