First Commonwealth Correlations

Stocks . USA . 
Stock . First Commonwealth Financial
FCF Stock  USD 16.90  0.12  0.72%   
The current 90-days correlation between First Commonwealth and ST Bancorp is 0.95 (i.e., Almost no diversification). The correlation of First Commonwealth 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.

First Commonwealth Correlation With Market

Poor diversification

The correlation between First Commonwealth Financial and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Commonwealth Financial and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Commonwealth Financial. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

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Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Commonwealth 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 First Commonwealth'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.

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