Correlation Between Glacier Bancorp and Meridian Bancorp
Can any of the company-specific risk be diversified away by investing in both Glacier Bancorp and Meridian Bancorp at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Glacier Bancorp and Meridian Bancorp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Glacier Bancorp and Meridian Bancorp, you can compare the effects of market volatilities on Glacier Bancorp and Meridian Bancorp and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Glacier Bancorp with a short position of Meridian Bancorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Glacier Bancorp and Meridian Bancorp.
Diversification Opportunities for Glacier Bancorp and Meridian Bancorp
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Glacier and Meridian is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Glacier Bancorp and Meridian Bancorp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Meridian Bancorp and Glacier Bancorp is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Glacier Bancorp are associated (or correlated) with Meridian Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Meridian Bancorp has no effect on the direction of Glacier Bancorp i.e., Glacier Bancorp and Meridian Bancorp go up and down completely randomly.
Pair Corralation between Glacier Bancorp and Meridian Bancorp
If you would invest 4,357 in Glacier Bancorp on January 25, 2024 and sell it today you would lose (518.00) from holding Glacier Bancorp or give up 11.89% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Glacier Bancorp vs. Meridian Bancorp
Performance |
Timeline |
Glacier Bancorp |
Meridian Bancorp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Glacier Bancorp and Meridian Bancorp Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Glacier Bancorp and Meridian Bancorp
The main advantage of trading using opposite Glacier Bancorp and Meridian Bancorp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Glacier Bancorp position performs unexpectedly, Meridian Bancorp can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Meridian Bancorp will offset losses from the drop in Meridian Bancorp's long position.Glacier Bancorp vs. HMN Financial | Glacier Bancorp vs. Lake Shore Bancorp | Glacier Bancorp vs. Rhinebeck Bancorp |
Meridian Bancorp vs. Estee Lauder Companies | Meridian Bancorp vs. Asure Software | Meridian Bancorp vs. European Wax Center | Meridian Bancorp vs. Analog Devices |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis 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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Other Complementary Tools
Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
FinTech Suite Use AI to screen and filter profitable investment opportunities | |
Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments |