Independent Bank Correlations

IBCP Stock

USD 34.06 0.11 0.32%

The current 90-days correlation between Independent Bank and Home Bancorp is 0.67 (i.e., 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

Poor diversification

The correlation between Independent Bank and DJI is 0.64 (i.e., Poor 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 main economic indicators.

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

Moving together with Independent Stock

0.92	AX	Axos Financial Earnings Call This Week	Pair Corr
0.97	BY	Byline Bancorp Earnings Call Tomorrow	Pair Corr
0.77	DB	Deutsche Bank AG Earnings Call Tomorrow	Pair Corr
0.66	KB	KB Financial Group	Pair Corr
0.78	NU	Nu Holdings	Pair Corr
0.96	PB	Prosperity Bancshares Earnings Call Today	Pair Corr
0.9	RF	Regions Financial Normal Trading	Pair Corr
0.76	WF	Woori Financial Group Earnings Call Today	Pair Corr
0.69	VABK	Virginia National	Pair Corr
0.61	VBNK	VersaBank	Pair Corr
0.86	VBTX	Veritex Holdings	Pair Corr
0.73	TECTP	Tectonic Financial	Pair Corr
0.86	TFC-PO	Truist Financial	Pair Corr
0.81	TFC-PR	Truist Financial	Pair Corr
0.85	CFG-PE	Citizens Financial	Pair Corr
0.84	CFG-PH	Citizens Financial Group,	Pair Corr
0.94	EFSC	Enterprise Financial	Pair Corr
0.71	EFSI	Eagle Financial Services Earnings Call Tomorrow	Pair Corr
0.73	EGBN	Eagle Bancorp Earnings Call Today	Pair Corr
0.68	KEY-PJ	KeyCorp	Pair Corr
0.71	KEY-PK	KeyCorp	Pair Corr
0.62	KEY-PL	KeyCorp	Pair Corr
0.89	WABC	Westamerica Bancorporation	Pair Corr
0.94	WAFD	Washington Federal	Pair Corr
0.91	WASH	Washington Trust Bancorp	Pair Corr
0.65	BANC-PF	Banc of California	Pair Corr
0.87	EQBK	Equity Bancshares,	Pair Corr
0.95	ESSA	ESSA Bancorp Earnings Call Today	Pair Corr
0.78	WSBCP	WesBanco Earnings Call Today	Pair Corr
0.89	WNEB	Western New England	Pair Corr
0.93	WSBC	WesBanco Earnings Call This Week	Pair Corr

Moving against Independent Stock

0.32

FCAP

First Capital Earnings Call Tomorrow

Pair Corr

Related Correlations Analysis

	HBCP	HTB	GSBC	BKSC	FNWD	MBWM	FRME	INDB	HTBK
HBCP		0.91	0.92	0.0	-0.63	0.93	0.88	0.88	0.92	HBCP
HTB	0.91		0.92	0.0	-0.8	0.95	0.87	0.91	0.95	HTB
GSBC	0.92	0.92		0.0	-0.65	0.97	0.88	0.88	0.96	GSBC
BKSC	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	BKSC
FNWD	-0.63	-0.8	-0.65	0.0		-0.73	-0.63	-0.64	-0.77	FNWD
MBWM	0.93	0.95	0.97	0.0	-0.73		0.91	0.92	0.98	MBWM
FRME	0.88	0.87	0.88	0.0	-0.63	0.91		0.84	0.87	FRME
INDB	0.88	0.91	0.88	0.0	-0.64	0.92	0.84		0.89	INDB
HTBK	0.92	0.95	0.96	0.0	-0.77	0.98	0.87	0.89		HTBK
	HBCP	HTB	GSBC	BKSC	FNWD	MBWM	FRME	INDB	HTBK

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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

HTBK	+ 0.98	MBWM
MBWM	+ 0.97	GSBC
HTBK	+ 0.96	GSBC
MBWM	+ 0.95	HTB
HTBK	+ 0.95	HTB
MBWM	+ 0.93	HBCP

High negative correlations

FNWD	- 0.8	HTB
HTBK	- 0.77	FNWD
MBWM	- 0.73	FNWD
FNWD	- 0.65	GSBC
INDB	- 0.64	FNWD
FRME	- 0.63	FNWD

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
HBCP	1.30	0.20	0.19	0.32	0.86	(1.40)	3.01	(1.62)	14.27
HTB	1.12	0.13	0.10	0.30	0.96	(1.29)	2.77	(2.00)	5.84
GSBC	1.26	0.05	0.05	0.21	1.15	(1.52)	3.69	(2.67)	8.69
BKSC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FNWD	0.81	(0.18)	0.00	(1.22)	0.00	0.00	1.88	(2.10)	5.91
MBWM	1.25	0.07	0.07	0.23	1.26	(1.42)	3.02	(2.81)	7.28
FRME	1.29	0.27	0.05	(1.78)	1.40	(1.44)	3.23	(2.57)	7.63
INDB	1.49	0.09	0.11	0.23	1.34	(1.81)	4.17	(2.49)	9.17
HTBK	1.14	0.10	0.10	0.26	0.92	(1.41)	2.80	(1.67)	5.99

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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