First Northwest Correlations

FNWB Stock  USD 7.70  0.15  1.91%   
The current 90-days correlation between First Northwest Bancorp and Community West Bancshares is 0.47 (i.e., Very weak diversification). The correlation of First Northwest 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 Northwest Correlation With Market

Weak diversification

The correlation between First Northwest Bancorp and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Northwest Bancorp and DJI 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 First Northwest Bancorp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with First Stock

  0.72TFC-PI Truist FinancialPairCorr

Moving against First Stock

  0.9KB KB Financial GroupPairCorr
  0.85WF Woori Financial Group Earnings Call TodayPairCorr
  0.79DB Deutsche Bank AG Earnings Call TomorrowPairCorr
  0.78TECTP Tectonic FinancialPairCorr
  0.73RF Regions Financial Normal TradingPairCorr
  0.73EBTC Enterprise BancorpPairCorr
  0.72AX Axos Financial Earnings Call This WeekPairCorr
  0.59EFSC Enterprise FinancialPairCorr
  0.58VBTX Veritex HoldingsPairCorr
  0.55TFC-PO Truist FinancialPairCorr
  0.44NU Nu HoldingsPairCorr
  0.44VABK Virginia NationalPairCorr
  0.44CFG-PE Citizens FinancialPairCorr
  0.43CFG-PH Citizens Financial Group,PairCorr
  0.41PB Prosperity Bancshares Earnings Call TodayPairCorr
  0.4TFC-PR Truist FinancialPairCorr
  0.35BY Byline Bancorp Earnings Call TomorrowPairCorr
  0.33VBNK VersaBankPairCorr
  0.78WSBCP WesBanco Earnings Call TodayPairCorr
  0.74TFINP Triumph FinancialPairCorr
  0.72KEY-PL KeyCorpPairCorr
  0.69WTFC Wintrust FinancialPairCorr
  0.65BANC-PF Banc of CaliforniaPairCorr
  0.59KEY-PK KeyCorpPairCorr
  0.58WSBC WesBanco Earnings Call This WeekPairCorr
  0.53FBNC First Bancorp Earnings Call TodayPairCorr
  0.49WSFS WSFS Financial Earnings Call TomorrowPairCorr
  0.48ESSA ESSA Bancorp Earnings Call TodayPairCorr
  0.48FBIZ First Business Financial Earnings Call TodayPairCorr
  0.44EQBK Equity Bancshares,PairCorr
  0.43WAFD Washington FederalPairCorr
  0.4KEY-PJ KeyCorpPairCorr
  0.38FCBC First Community BancPairCorr

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   
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FMBHHTB
FMBHESSA
ESSAHTB
  
High negative correlations   
FGBIHTB
HTBFCAP
FMBHFGBI
FCAPCWBC
FGBICWBC
ESSAFCAP

Risk-Adjusted Indicators

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

First Northwest Corporate Management