OceanFirst Financial Correlations

OCFC Stock

USD 18.60 0.08 0.43%

The current 90-days correlation between OceanFirst Financial Corp and Preferred Bank is 0.72 (i.e., Poor diversification). The correlation of OceanFirst Financial 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.

OceanFirst Financial Correlation With Market

Poor diversification

The correlation between OceanFirst Financial Corp and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OceanFirst Financial Corp and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OceanFirst Financial Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with OceanFirst Stock

0.97	AX	Axos Financial Earnings Call This Week	Pair Corr
0.94	BY	Byline Bancorp Earnings Call This Week	Pair Corr
0.87	DB	Deutsche Bank AG Earnings Call This Week	Pair Corr
0.81	KB	KB Financial Group Earnings Call Today	Pair Corr
0.86	NU	Nu Holdings Aggressive Push	Pair Corr
0.94	PB	Prosperity Bancshares Earnings Call This Week	Pair Corr
0.96	RF	Regions Financial Buyout Trend	Pair Corr
0.85	WF	Woori Financial Group Earnings Call This Week	Pair Corr
0.78	VABK	Virginia National	Pair Corr
0.63	VBNK	VersaBank	Pair Corr
0.88	VBTX	Veritex Holdings Normal Trading	Pair Corr
0.8	TECTP	Tectonic Financial	Pair Corr
0.9	TFC-PO	Truist Financial	Pair Corr
0.83	TFC-PR	Truist Financial	Pair Corr
0.91	CFG-PE	Citizens Financial	Pair Corr
0.85	CFG-PH	Citizens Financial Group,	Pair Corr
0.96	EFSC	Enterprise Financial Earnings Call Today	Pair Corr
0.7	KEY-PI	KeyCorp Earnings Call Tomorrow	Pair Corr
0.78	KEY-PJ	KeyCorp Earnings Call Tomorrow	Pair Corr
0.82	KEY-PK	KeyCorp Earnings Call Tomorrow	Pair Corr
0.79	KEY-PL	KeyCorp Earnings Call Tomorrow	Pair Corr
0.86	WABC	Westamerica Bancorporation	Pair Corr
0.94	WAFD	Washington Federal	Pair Corr
0.85	WASH	Washington Trust Bancorp Earnings Call Today	Pair Corr
0.78	BANC-PF	Banc of California Earnings Call Today	Pair Corr
0.94	EQBK	Equity Bancshares,	Pair Corr
0.95	ESSA	ESSA Bancorp Earnings Call This Week	Pair Corr
0.68	TFINP	Triumph Financial	Pair Corr
0.88	WSBCP	WesBanco Earnings Call This Week	Pair Corr
0.84	WNEB	Western New England Earnings Call Tomorrow	Pair Corr
0.97	WSBC	WesBanco	Pair Corr

Related Correlations Analysis

	ABCB	PFBC	DCOM	BHLB	FFIC	PGC	HFWA
ABCB		0.84	0.86	0.84	0.63	0.86	0.94	ABCB
PFBC	0.84		0.9	0.77	0.57	0.85	0.93	PFBC
DCOM	0.86	0.9		0.83	0.68	0.91	0.93	DCOM
BHLB	0.84	0.77	0.83		0.91	0.96	0.92	BHLB
FFIC	0.63	0.57	0.68	0.91		0.87	0.75	FFIC
PGC	0.86	0.85	0.91	0.96	0.87		0.96	PGC
HFWA	0.94	0.93	0.93	0.92	0.75	0.96		HFWA
	ABCB	PFBC	DCOM	BHLB	FFIC	PGC	HFWA

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Risk-Adjusted Indicators

There is a big difference between OceanFirst Stock performing well and OceanFirst Financial 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 OceanFirst Financial'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
ABCB	1.19	0.26	0.22	0.35	0.87	(1.44)	2.79	(1.71)	8.02
PFBC	1.22	0.17	0.08	0.32	1.50	(1.27)	3.04	(2.06)	10.60
DCOM	1.39	0.13	0.08	0.24	1.56	(1.55)	3.04	(3.44)	9.32
BHLB	1.34	0.05	0.05	0.17	1.35	(1.56)	3.19	(2.77)	7.71
FFIC	1.48	0.07	0.05	0.20	1.59	(1.62)	3.11	(3.44)	7.77
PGC	1.35	0.08	0.07	0.19	1.40	(1.48)	2.87	(2.45)	9.53
HFWA	1.23	0.14	0.09	0.26	1.26	(1.37)	2.90	(2.10)	7.61

OceanFirst Financial Corporate Management

Steven Esq	General EVP	Profile
CISSP CISA	Senior Officer	Profile
Chad Dally	Defense Aerospace	Profile
David Berninger	Executive CRO	Profile
Kevin Georgetti	Senior Officer	Profile

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