Heritage NOLA Related Correlations

HRGG Stock

USD 14.69 0.06 0.41%

Generate correlation matrix for Heritage NOLA and other related equities to check the degree to which Heritage NOLA Bancorp price movement is correlated to its related entities. Use comma (,) to separate each symbol. If not specified, the peers will be provided automatically based on Macroaxis sector classification standards for Heritage NOLA Bancorp. To filter out specific equities, please toggle its corresponding legend item. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Heritage NOLA 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 price.

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Please note, there is a significant difference between Heritage NOLA's value and its price as these two are different measures arrived at by different means. Investors typically determine if Heritage NOLA is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Heritage NOLA'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.

Correlations

	FHN-PD	FHN-PB	KB	BSBR	NBHC	BSAC	EQBK
FHN-PD		0.69	0.18	-0.76	-0.19	0.44	0.06	FHN-PD
FHN-PB	0.69		0.43	-0.44	0.0	0.57	0.04	FHN-PB
KB	0.18	0.43		-0.25	-0.15	0.59	-0.25	KB
BSBR	-0.76	-0.44	-0.25		0.43	-0.04	0.18	BSBR
NBHC	-0.19	0.0	-0.15	0.43		0.08	0.75	NBHC
BSAC	0.44	0.57	0.59	-0.04	0.08		0.03	BSAC
EQBK	0.06	0.04	-0.25	0.18	0.75	0.03		EQBK
	FHN-PD	FHN-PB	KB	BSBR	NBHC	BSAC	EQBK

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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

EQBK	+ 0.75	NBHC
FHN-PB	+ 0.69	FHN-PD
BSAC	+ 0.59	KB
BSAC	+ 0.57	FHN-PB
BSAC	+ 0.44	FHN-PD
KB	+ 0.43	FHN-PB

High negative correlations

BSBR	- 0.76	FHN-PD
BSBR	- 0.44	FHN-PB
EQBK	- 0.25	KB
BSBR	- 0.25	KB
NBHC	- 0.19	FHN-PD
NBHC	- 0.15	KB

Risk-Adjusted Indicators

There is a big difference between Heritage Pink Sheet performing well and Heritage NOLA 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 NOLA'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
FHN-PD	0.29	0.07	(0.04)	(0.21)	0.36	(0.31)	0.79	(0.79)	2.85
FHN-PB	0.47	0.06	(0.03)	(1.24)	0.50	(0.61)	1.42	(0.99)	4.26
KB	2.16	0.34	0.18	0.25	2.06	(2.58)	6.98	(4.35)	15.32
BSBR	1.32	(0.32)	0.00	(0.18)	0.00	0.00	2.58	(3.26)	8.35
NBHC	1.46	(0.11)	(0.04)	0.00	2.02	(1.48)	3.44	(2.97)	10.75
BSAC	1.31	(0.04)	(0.02)	0.04	1.55	(1.45)	3.04	(2.94)	8.81
EQBK	1.45	(0.08)	(0.01)	0.03	1.80	(1.61)	3.37	(2.26)	8.82

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Heritage NOLA Related Correlations

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