Bank Of Correlations

BK-PK Preferred Stock

25.41 0.07 0.27%

The current 90-days correlation between The Bank and Prospect Capital is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bank Of moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if The Bank of moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Bank Of Correlation With Market

Very good diversification

The correlation between The Bank of and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Bank of and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Bank Of could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bank Of 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 Bank Of - 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 The Bank of to buy it.

Moving together with Bank Preferred Stock

0.8	OCCIM	OFS Credit ,	Pair Corr
0.82	OCCIN	OFS Credit	Pair Corr
0.84	OCCIO	OFS Credit	Pair Corr
0.65	PFG	Principal Financial Earnings Call This Week	Pair Corr
0.73	ATCOL	Atlas Corp	Pair Corr
0.87	OAK-PA	Oaktree Capital Group	Pair Corr
0.78	OAK-PB	Oaktree Capital Group	Pair Corr
0.74	ARES-PB	Ares Management Corp	Pair Corr
0.61	APO-PA	Apollo Global Management	Pair Corr
0.7	GAINN	Gladstone Investment	Pair Corr
0.88	C	Citigroup Aggressive Push	Pair Corr
0.83	L	Loews Corp	Pair Corr
0.81	DHIL	Diamond Hill Investment	Pair Corr
0.87	DIST	Distoken Acquisition	Pair Corr
0.85	AX	Axos Financial	Pair Corr
0.76	BK	Bank of New York	Pair Corr
0.81	BN	Brookfield Corp	Pair Corr
0.71	BX	Blackstone Group Normal Trading	Pair Corr
0.63	BY	Byline Bancorp Earnings Call This Week	Pair Corr
0.84	CG	Carlyle Group Earnings Call This Week	Pair Corr
0.87	CM	Canadian Imperial Bank	Pair Corr
0.8	DB	Deutsche Bank AG Earnings Call This Week	Pair Corr
0.92	GS	Goldman Sachs Group	Pair Corr

Moving against Bank Preferred Stock

0.6	EG	Everest Group	Pair Corr
0.5	FG	FG Annuities Life	Pair Corr
0.33	CB	Chubb Earnings Call This Week	Pair Corr

Related Correlations Analysis

	PSEC-PA	STT-PG	OCCIM	OCCIN	OCCIO	GECCO	ATCO-PH	PFG	TGE	NTRSO
PSEC-PA		0.55	0.32	0.56	0.38	0.02	0.53	0.62	-0.36	0.63	PSEC-PA
STT-PG	0.55		0.53	0.54	0.48	0.03	0.47	0.71	-0.03	0.82	STT-PG
OCCIM	0.32	0.53		0.85	0.84	0.31	0.51	0.67	0.39	0.38	OCCIM
OCCIN	0.56	0.54	0.85		0.82	0.26	0.51	0.76	0.18	0.53	OCCIN
OCCIO	0.38	0.48	0.84	0.82		0.38	0.55	0.6	0.28	0.5	OCCIO
GECCO	0.02	0.03	0.31	0.26	0.38		0.09	0.09	0.44	-0.07	GECCO
ATCO-PH	0.53	0.47	0.51	0.51	0.55	0.09		0.4	-0.06	0.55	ATCO-PH
PFG	0.62	0.71	0.67	0.76	0.6	0.09	0.4		0.02	0.6	PFG
TGE	-0.36	-0.03	0.39	0.18	0.28	0.44	-0.06	0.02		-0.28	TGE
NTRSO	0.63	0.82	0.38	0.53	0.5	-0.07	0.55	0.6	-0.28		NTRSO
	PSEC-PA	STT-PG	OCCIM	OCCIN	OCCIO	GECCO	ATCO-PH	PFG	TGE	NTRSO

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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

OCCIN	+ 0.85	OCCIM
OCCIO	+ 0.84	OCCIM
NTRSO	+ 0.82	STT-PG
OCCIO	+ 0.82	OCCIN
PFG	+ 0.76	OCCIN
PFG	+ 0.71	STT-PG

High negative correlations

TGE	- 0.36	PSEC-PA
NTRSO	- 0.28	TGE
NTRSO	- 0.07	GECCO
TGE	- 0.06	ATCO-PH
TGE	- 0.03	STT-PG

Risk-Adjusted Indicators

There is a big difference between Bank Preferred Stock performing well and Bank Of 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 Bank Of'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
PSEC-PA	1.28	0.20	0.05	0.79	1.62	(1.40)	2.88	(2.09)	9.68
STT-PG	0.47	0.02	(0.13)	0.24	0.46	(0.54)	0.97	(0.86)	2.52
OCCIM	0.39	0.07	(0.10)	(0.56)	0.40	(0.55)	1.06	(0.93)	2.87
OCCIN	0.29	0.03	(0.16)	0.59	0.32	(0.36)	0.71	(0.54)	2.65
OCCIO	0.30	0.04	(0.19)	1.05	0.28	(0.41)	0.68	(0.65)	2.63
GECCO	0.54	(0.01)	(0.06)	0.09	1.06	(1.03)	1.58	(1.77)	13.10
ATCO-PH	1.63	0.48	0.06	(0.50)	2.45	(1.70)	1.01	(2.43)	61.34
PFG	1.06	0.00	0.03	0.13	1.15	(1.20)	2.44	(1.99)	7.65
TGE	6.68	(1.03)	0.00	30.25	0.00	0.00	19.52	(19.29)	57.32
NTRSO	0.56	0.04	(0.07)	0.29	0.56	(0.59)	1.24	(0.98)	2.90

Bank Of Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Bank Of preferred stock to make a market-neutral strategy. Peer analysis of Bank Of could also be used in its relative valuation, which is a method of valuing Bank Of by comparing valuation metrics with similar companies.

Prospect Capital State Street OFS Credit Company, OFS Credit OFS Credit Great Elm Capital Atlas Corp Principal Financial Group The Generation Essentials Northern Trust American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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