Fifth Third Correlations

FITBP Preferred Stock  USD 25.08  0.13  0.52%   
The correlation of Fifth Third 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fifth Third moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fifth Third Bancorp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Significant diversification

The correlation between Fifth Third Bancorp and NYA is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fifth Third Bancorp and NYA in the same portfolio, assuming nothing else is changed.
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fifth Third Bancorp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of labor statistics.
  
The ability to find closely correlated positions to Fifth Third could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fifth Third when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Fifth Third - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Fifth Third Bancorp to buy it.

Moving together with Fifth Preferred Stock

  0.75RF-PC Regions FinancialPairCorr
  0.7RF-PE Regions FinancialPairCorr
  0.82RF-PB Regions FinancialPairCorr
  0.63KB KB Financial Group Financial Report 20th of May 2024 PairCorr
  0.71NU Nu Holdings Sell-off TrendPairCorr
  0.64WF Woori Financial Group Financial Report 21st of May 2024 PairCorr

Moving against Fifth Preferred Stock

  0.74MBCN Middlefield Banc Fiscal Quarter End 31st of March 2024 PairCorr
  0.72BY Byline Bancorp Fiscal Quarter End 31st of March 2024 PairCorr
  0.64MCBC Macatawa Bank Fiscal Quarter End 31st of March 2024 PairCorr
  0.64PB Prosperity Bancshares Normal TradingPairCorr
  0.41MBWM Mercantile Bank Fiscal Quarter End 31st of March 2024 PairCorr
  0.81MNSB Mainstreet Bank Fiscal Quarter End 31st of March 2024 PairCorr
  0.75VABK Virginia National Fiscal Quarter End 31st of March 2024 PairCorr
  0.75VBTX Veritex Holdings Normal TradingPairCorr

Related Correlations Analysis

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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   
BYMBCN
BYMCBC
MCBCMBCN
MCBCMBWM
AXMBWM
BYMBWM
  
High negative correlations   
RF-PCMBCN
RF-PCBY
RF-PCMCBC
RF-PEMCBC
RF-PEMBCN
RF-PEBY

Risk-Adjusted Indicators

There is a big difference between Fifth Preferred Stock performing well and Fifth Third 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 Fifth Third'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MBCN  2.05 (0.88) 0.00 (0.16) 0.00 
 3.39 
 13.83 
MBIN  1.85 (0.30)(0.05) 0.01  2.00 
 4.04 
 12.36 
MBWM  1.67 (0.30) 0.00 (0.03) 0.00 
 4.16 
 12.23 
MCBS  1.72 (0.24)(0.03) 0.02  2.43 
 3.87 
 9.79 
MCBC  1.35 (0.45) 0.00 (0.12) 0.00 
 2.95 
 8.03 
AX  1.60 (0.23) 0.00 (0.01) 0.00 
 3.65 
 6.99 
BY  1.15 (0.33) 0.00 (0.10) 0.00 
 2.50 
 6.36 
DB  1.27  0.06  0.07  0.16  1.49 
 2.47 
 10.46 
RF-PC  0.66  0.07  0.05  0.23  0.55 
 1.97 
 4.31 
RF-PE  0.80  0.09  0.03  0.30  0.95 
 1.85 
 4.69 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fifth Third without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Fifth Third Corporate Management

Elected by the shareholders, the Fifth Third's board of directors comprises two types of representatives: Fifth Third inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Fifth. The board's role is to monitor Fifth Third's management team and ensure that shareholders' interests are well served. Fifth Third's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Fifth Third's outside directors are responsible for providing unbiased perspectives on the board's policies.

Already Invested in Fifth Third Bancorp?

The danger of trading Fifth Third Bancorp is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Fifth Third is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Fifth Third. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Fifth Third Bancorp is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fifth Third Bancorp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of labor statistics.
Note that the Fifth Third Bancorp information on this page should be used as a complementary analysis to other Fifth Third's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.

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When running Fifth Third's price analysis, check to measure Fifth Third's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Fifth Third is operating at the current time. Most of Fifth Third's value examination focuses on studying past and present price action to predict the probability of Fifth Third's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Fifth Third's price. Additionally, you may evaluate how the addition of Fifth Third to your portfolios can decrease your overall portfolio volatility.
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Please note, there is a significant difference between Fifth Third's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fifth Third is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fifth Third's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.