Independent Bank Correlations

IBCP Stock

USD 32.26 0.81 2.58%

The current 90-days correlation between Independent Bank and First Financial is 0.84 (i.e., Very poor diversification). The correlation of Independent Bank 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Independent Bank Correlation With Market

Very weak diversification

The correlation between Independent Bank and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Independent Bank and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Independent Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Independent Bank. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in private.

To learn how to invest in Independent Stock, please use our How to Invest in Independent Bank guide.

Moving together with Independent Stock

0.72	WTFC	Wintrust Financial	Pair Corr
0.64	CFR	CullenFrost Bankers Earnings Call This Week	Pair Corr
0.65	ONB	Old National Bancorp Normal Trading	Pair Corr
0.68	WBS	Webster Financial Sell-off Trend	Pair Corr
0.75	HTBK	Heritage Commerce Corp	Pair Corr
0.71	NKSH	National Bankshares	Pair Corr
0.8	NRIM	Northrim BanCorp Normal Trading	Pair Corr

Moving against Independent Stock

0.31

BWXT

BWX Technologies

Pair Corr

Related Correlations Analysis

	THFF	CAC	SPFI	MPB	NPB	MCBS	GSBC	BFST	FCBC	HTB
THFF		0.86	0.89	0.9	0.7	0.84	0.85	0.79	0.66	0.84	THFF
CAC	0.86		0.9	0.7	0.43	0.9	0.75	0.91	0.83	0.74	CAC
SPFI	0.89	0.9		0.76	0.59	0.84	0.84	0.91	0.71	0.76	SPFI
MPB	0.9	0.7	0.76		0.84	0.65	0.86	0.56	0.42	0.77	MPB
NPB	0.7	0.43	0.59	0.84		0.28	0.84	0.32	0.0	0.73	NPB
MCBS	0.84	0.9	0.84	0.65	0.28		0.63	0.88	0.94	0.61	MCBS
GSBC	0.85	0.75	0.84	0.86	0.84	0.63		0.68	0.41	0.83	GSBC
BFST	0.79	0.91	0.91	0.56	0.32	0.88	0.68		0.86	0.67	BFST
FCBC	0.66	0.83	0.71	0.42	0.0	0.94	0.41	0.86		0.42	FCBC
HTB	0.84	0.74	0.76	0.77	0.73	0.61	0.83	0.67	0.42		HTB
	THFF	CAC	SPFI	MPB	NPB	MCBS	GSBC	BFST	FCBC	HTB

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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

FCBC	+ 0.94	MCBS
BFST	+ 0.91	CAC
BFST	+ 0.91	SPFI
MPB	+ 0.9	THFF
SPFI	+ 0.9	CAC
MCBS	+ 0.9	CAC

High negative correlations

FCBC

- 0.0

NPB

Risk-Adjusted Indicators

There is a big difference between Independent Stock performing well and Independent Bank 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 Independent Bank'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
THFF	1.19	(0.12)	0.00	(0.02)	0.00	0.00	3.03	(2.11)	8.88
CAC	1.48	(0.27)	0.00	(0.09)	0.00	0.00	3.70	(2.95)	11.35
SPFI	1.34	(0.19)	0.00	(0.06)	0.00	0.00	2.66	(2.96)	9.61
MPB	1.30	(0.06)	(0.02)	0.01	1.92	(1.41)	3.03	(2.78)	8.91
NPB	1.42	0.07	0.06	0.09	1.74	(1.51)	3.35	(3.49)	8.94
MCBS	1.23	(0.28)	0.00	(0.13)	0.00	0.00	2.19	(2.59)	8.53
GSBC	1.21	(0.16)	0.00	(0.04)	0.00	0.00	3.02	(1.89)	15.42
BFST	1.18	(0.24)	0.00	(0.09)	0.00	0.00	2.75	(2.57)	10.13
FCBC	1.29	(0.38)	0.00	(0.19)	0.00	0.00	2.04	(2.71)	9.09
HTB	1.14	(0.11)	0.00	(0.02)	0.00	0.00	2.79	(2.04)	8.30

Independent Bank Corporate Management

Stefanie Kimball	Chief Risk Officer and Executive VP	Profile
CPA CPA	CEO Pres	Profile
Mark Olsen	VP Mang	Profile
Keith Lightbody	Officer Bank	Profile

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