Patrick Star FCF

Asset Allocation

Position	Category/Sector	Target Weight
ARCH Arch Resources, Inc.	Energy	0.80%
ARCT Arcturus Therapeutics Holdings Inc.	Healthcare	0.80%
ASC Ardmore Shipping Corporation	Industrials	0.80%
BNTX BioNTech SE	Healthcare	6%
BPOP Popular, Inc.	Financial Services	1%
CALM Cal-Maine Foods, Inc.	Consumer Defensive	0.80%
CARG CarGurus, Inc.	Communication Services	0.80%
CATY Cathay General Bancorp	Financial Services	0.80%
CINF Cincinnati Financial Corporation	Financial Services	4%
DHI D.R. Horton, Inc.	Consumer Cyclical	10%
DOX Amdocs Limited	Technology	3%
ESNT Essent Group Ltd.	Financial Services	1%
ETD Ethan Allen Interiors Inc.	Consumer Cyclical	0.90%
FHB First Hawaiian, Inc.	Financial Services	0.80%
GRBK Green Brick Partners, Inc.	Consumer Cyclical	0.80%
HCC Warrior Met Coal, Inc.	Basic Materials	0.80%
HTBK Heritage Commerce Corp	Financial Services	0.80%
IMMR Immersion Corporation	Technology	0.80%
JHG Janus Henderson Group plc	Financial Services	2%
LEN Lennar Corporation	Consumer Cyclical	9%
MFC Manulife Financial Corporation	Financial Services	8%
MLI Mueller Industries, Inc.	Industrials	0.80%
MOMO Momo Inc.	Communication Services	0.80%
MTG MGIC Investment Corporation	Financial Services	1%
MTH Meritage Homes Corporation	Consumer Cyclical	1%
NMIH NMI Holdings, Inc.	Financial Services	0.80%
NTB The Bank of N.T. Butterfield & Son Limited	Financial Services	0.80%
ORI Old Republic International Corporation	Financial Services	2%
OSUR OraSure Technologies, Inc.	Healthcare	0.90%
PHM PulteGroup, Inc.	Consumer Cyclical	5%
PLAB Photronics, Inc.	Technology	0.80%
PRDO Perdoceo Education Corporation	Consumer Defensive	0.80%
RNST Renasant Corporation	Financial Services	0.80%
SBCF Seacoast Banking Corporation of Florida	Financial Services	0.80%
SILV SilverCrest Metals Inc	Basic Materials	0.90%
SSB SouthState Corporation	Financial Services	2%
SSTK Shutterstock, Inc.	Communication Services	0.80%
SWKS Skyworks Solutions, Inc.	Technology	4%
TBBK The Bancorp, Inc.	Financial Services	0.80%
TNK Teekay Tankers Ltd.	Energy	0.80%
TROW T. Rowe Price Group, Inc.	Financial Services	6%
TS Tenaris S.A.	Energy	5%
UCBI United Community Banks, Inc.	Financial Services	1%
VBTX Veritex Holdings, Inc.	Financial Services	0.80%
WIT Wipro Limited	Technology	7%
ZYME Zymeworks Inc.	Healthcare	0.90%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Patrick Star FCF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced Every 3 months.

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The earliest data available for this chart is Feb 6, 2026, corresponding to the inception date of VBTX

Returns By Period

	1D	1M	YTD	6M	1Y	3Y*	5Y*	10Y*
Benchmark S&P 500 Index	0.11%	-3.43%	-3.84%	-1.98%	16.08%	16.86%	10.37%	12.29%
Portfolio Patrick Star FCF	0.97%	-3.85%	—	—	—	—	—	—
Portfolio components:
DHI D.R. Horton, Inc.	1.04%	-8.47%	-2.74%	-18.05%	10.45%	13.61%	10.04%	17.95%
LEN Lennar Corporation	1.23%	-20.22%	-15.49%	-32.01%	-23.89%	-3.92%	-1.45%	7.90%
MFC Manulife Financial Corporation	0.35%	1.69%	-2.84%	13.22%	12.21%	29.31%	15.45%	14.98%
WIT Wipro Limited	2.37%	-1.82%	-21.98%	-15.42%	-26.87%	0.85%	-6.39%	-0.10%
BNTX BioNTech SE	1.97%	-9.51%	-4.22%	-12.75%	-2.29%	-11.04%	-3.91%	—
TROW T. Rowe Price Group, Inc.	0.33%	-2.04%	-10.61%	-8.92%	1.21%	-2.50%	-8.23%	5.96%
PHM PulteGroup, Inc.	0.12%	-10.97%	0.24%	-12.68%	13.32%	26.71%	18.14%	22.61%
TS Tenaris S.A.	0.33%	9.77%	51.13%	63.96%	52.84%	29.80%	24.09%	12.53%
SWKS Skyworks Solutions, Inc.	3.70%	-5.09%	-11.92%	-26.99%	-11.12%	-19.57%	-19.52%	-1.23%
CINF Cincinnati Financial Corporation	0.48%	-5.45%	-2.43%	-0.21%	9.79%	14.98%	11.47%	12.18%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since Feb 9, 2026, Patrick Star FCF's average daily return is -0.18%, while the average monthly return is -2.23%.

Historically, 33% of months were positive and 67% were negative. The best month was Apr 2026 with a return of +1.2%, while the worst month was Mar 2026 at -7.3%. The longest winning streak lasted 1 consecutive months, and the longest losing streak was 2 months.

On a daily basis, Patrick Star FCF closed higher 39% of trading days. The best single day was Mar 31, 2026 with a return of +2.2%, while the worst single day was Mar 18, 2026 at -1.8%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026		-0.58%	-7.26%	1.16%									-6.73%

Expense Ratio

Patrick Star FCF has an expense ratio of 0.00%, meaning no management fees are charged. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.

The portfolio doesn't include any funds that charge management fees.

Return for Risk

Return / Risk — by metrics

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

How much return does each position deliver for the risk it carries? Higher values mean better reward for the risk taken.

	Risk / Return Rank	Sharpe ratio	Sortino ratio	Omega ratio	Calmar ratio	Martin ratio
DHI D.R. Horton, Inc.	47	0.27	0.74	1.08	0.40	0.82
LEN Lennar Corporation	14	-0.64	-0.77	0.91	-0.58	-1.49
MFC Manulife Financial Corporation	55	0.49	0.78	1.12	0.85	2.65
WIT Wipro Limited	7	-0.84	-1.15	0.86	-0.85	-1.99
BNTX BioNTech SE	38	-0.05	0.29	1.04	0.03	0.06
TROW T. Rowe Price Group, Inc.	39	0.04	0.28	1.04	0.15	0.38
PHM PulteGroup, Inc.	52	0.37	0.86	1.10	0.73	1.55
TS Tenaris S.A.	81	1.67	2.22	1.30	2.39	6.51
SWKS Skyworks Solutions, Inc.	28	-0.25	-0.05	0.99	-0.31	-0.62
CINF Cincinnati Financial Corporation	52	0.42	0.71	1.09	0.70	2.22

Sharpe Ratio

There isn't enough data available to calculate the Sharpe ratio for Patrick Star FCF. This metric is based on the past 12 months of trading data. Please check back later for updated information.

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Dividends

Dividend yield

Patrick Star FCF provided a 2.78% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	2.78%	2.58%	2.15%	2.19%	2.65%	1.94%	1.62%	1.84%	2.16%	1.87%	1.51%	1.80%
Portfolio components:
DHI D.R. Horton, Inc.	1.22%	1.15%	0.93%	0.69%	1.04%	0.76%	1.05%	1.18%	1.51%	0.83%	1.24%	0.84%
LEN Lennar Corporation	2.31%	1.95%	1.47%	1.01%	1.66%	0.86%	0.82%	0.29%	0.41%	0.25%	0.37%	0.33%
MFC Manulife Financial Corporation	3.72%	3.45%	4.16%	4.86%	5.71%	4.91%	4.70%	3.71%	4.08%	3.93%	4.15%	5.38%
WIT Wipro Limited	5.69%	4.43%	0.17%	0.22%	1.69%	0.14%	0.25%	0.28%	0.31%	0.27%	0.91%	1.65%
BNTX BioNTech SE	0.00%	0.00%	0.00%	0.00%	2.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TROW T. Rowe Price Group, Inc.	5.67%	4.96%	4.39%	4.53%	4.40%	3.72%	2.38%	2.50%	3.03%	2.17%	2.87%	5.71%
PHM PulteGroup, Inc.	0.82%	0.78%	0.75%	0.66%	1.34%	1.00%	1.16%	1.16%	1.46%	1.08%	1.96%	1.85%
TS Tenaris S.A.	1.96%	2.96%	3.55%	3.11%	2.56%	2.59%	0.88%	3.62%	3.85%	4.39%	2.41%	3.78%
SWKS Skyworks Solutions, Inc.	5.13%	4.45%	3.11%	2.31%	2.59%	1.37%	1.23%	1.36%	2.09%	1.26%	1.45%	1.02%
CINF Cincinnati Financial Corporation	2.24%	2.13%	2.25%	2.90%	2.70%	2.21%	2.75%	2.13%	2.74%	3.33%	2.53%	3.89%

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

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Worst Drawdowns

The table below displays the maximum drawdowns of the Patrick Star FCF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Patrick Star FCF was 10.62%, occurring on Mar 30, 2026. The portfolio has not yet recovered.

The current Patrick Star FCF drawdown is 7.60%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-10.62%	Feb 11, 2026	33	Mar 30, 2026	—	—	—
-0.34%	Feb 9, 2026	1	Feb 9, 2026	1	Feb 10, 2026	2

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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Diversification

Diversification Metrics

Number of Effective Assets

The portfolio contains 46 assets, with an effective number of assets of 20.33, reflecting the diversification based on asset allocation. This number of effective assets suggests that the portfolio's investments are spread across a variety of assets, indicating a well-diversified allocation. However, true diversification also depends on the correlations between assets.

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.

	Benchmark	ARCH	VBTX	UCBI	SILV	CALM	HCC	MOMO	OSUR	BNTX	ORI	WIT	TS	SSTK	CARG	CINF	ZYME	DOX	SWKS	TNK	PRDO	LEN	ASC	ARCT	NMIH	DHI	ESNT	MTG	JHG	PHM	IMMR	PLAB	NTB	MLI	TBBK	GRBK	MTH	ETD	BPOP	CATY	TROW	HTBK	SBCF	FHB	MFC	RNST	SSB	Portfolio
Benchmark	1.00	0.00	0.00	0.00	0.00	-0.01	0.17	0.43	0.38	0.47	-0.01	0.21	0.41	0.20	0.33	0.17	0.49	0.21	0.30	0.34	0.35	0.29	0.43	0.47	0.32	0.36	0.24	0.33	0.28	0.42	0.73	0.68	0.54	0.53	0.52	0.39	0.52	0.47	0.52	0.44	0.50	0.60	0.71	0.51	0.61	0.48	0.52	0.69
ARCH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VBTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UCBI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SILV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CALM	-0.01	0.00	0.00	0.00	0.00	1.00	-0.08	-0.25	0.08	0.13	0.06	-0.25	-0.05	0.16	-0.04	0.08	-0.00	-0.03	-0.07	-0.16	0.05	-0.20	0.02	-0.16	-0.07	-0.06	-0.21	-0.05	-0.11	0.10	0.04	-0.22	-0.04	0.06	-0.10	0.02	-0.11	-0.20	-0.05	-0.15	-0.07	-0.06	-0.18	-0.09	-0.14	0.03	-0.12	-0.10
HCC	0.17	0.00	0.00	0.00	0.00	-0.08	1.00	-0.06	0.09	0.29	-0.31	-0.23	0.28	-0.21	-0.09	-0.46	0.03	-0.09	0.17	0.22	0.00	0.09	0.19	-0.02	-0.22	-0.00	-0.27	-0.28	-0.22	0.01	-0.01	0.37	-0.06	-0.07	-0.00	-0.04	0.00	-0.04	-0.01	-0.13	0.01	-0.03	-0.11	-0.07	0.03	-0.18	-0.18	0.07
MOMO	0.43	0.00	0.00	0.00	0.00	-0.25	-0.06	1.00	0.02	0.09	-0.12	0.07	0.04	-0.06	0.02	0.13	0.22	-0.07	-0.04	0.07	-0.02	0.13	0.00	0.47	0.03	0.08	0.04	0.02	0.18	-0.01	0.27	0.29	0.39	0.20	0.27	0.11	0.19	0.31	0.22	0.17	0.19	0.19	0.38	0.01	0.22	0.11	0.18	0.14
OSUR	0.38	0.00	0.00	0.00	0.00	0.08	0.09	0.02	1.00	0.34	0.01	0.08	0.20	0.12	-0.08	-0.04	0.25	0.47	0.17	0.27	-0.08	0.27	0.30	0.28	-0.20	0.34	-0.07	-0.03	-0.11	0.44	0.36	0.09	0.08	0.14	-0.12	0.20	0.33	0.10	0.03	0.04	0.16	0.18	0.11	0.01	0.19	0.05	-0.00	0.38
BNTX	0.47	0.00	0.00	0.00	0.00	0.13	0.29	0.09	0.34	1.00	-0.10	-0.15	0.40	0.13	0.01	-0.13	0.05	0.27	0.16	0.01	0.12	0.25	0.11	0.17	0.03	0.21	0.10	-0.09	-0.14	0.26	0.34	0.23	0.12	0.05	0.14	0.23	0.32	0.26	0.09	-0.02	0.23	0.12	0.08	0.14	0.29	0.00	0.12	0.42
ORI	-0.01	0.00	0.00	0.00	0.00	0.06	-0.31	-0.12	0.01	-0.10	1.00	-0.05	0.04	0.08	0.02	0.47	0.14	0.03	0.18	0.18	-0.00	0.27	0.11	0.10	0.51	0.27	0.52	0.50	0.25	0.33	0.11	-0.02	0.04	0.15	0.01	0.31	0.31	0.08	0.05	0.13	0.24	0.10	0.16	0.19	0.24	0.35	0.20	0.29
WIT	0.21	0.00	0.00	0.00	0.00	-0.25	-0.23	0.07	0.08	-0.15	-0.05	1.00	-0.05	0.38	0.24	-0.03	0.14	0.53	0.14	0.01	0.19	0.14	0.05	0.18	0.02	0.23	0.09	0.07	0.17	0.17	0.26	0.05	0.18	0.09	0.24	0.17	0.27	0.41	0.14	0.28	0.21	0.13	0.23	0.33	0.37	0.24	0.35	0.40
TS	0.41	0.00	0.00	0.00	0.00	-0.05	0.28	0.04	0.20	0.40	0.04	-0.05	1.00	-0.08	0.03	0.03	0.33	-0.04	0.18	0.44	-0.17	0.27	0.47	0.38	0.09	0.23	0.03	-0.02	0.15	0.36	0.27	0.31	0.18	0.29	0.15	0.11	0.26	0.09	0.09	0.12	0.13	0.20	0.22	0.21	0.24	0.17	0.17	0.42
SSTK	0.20	0.00	0.00	0.00	0.00	0.16	-0.21	-0.06	0.12	0.13	0.08	0.38	-0.08	1.00	0.52	0.01	0.15	0.46	-0.04	-0.10	0.18	0.02	0.02	-0.03	0.12	0.13	0.15	0.19	0.30	0.29	0.43	0.02	0.18	0.35	0.16	0.39	0.21	0.54	0.10	0.14	0.36	0.15	0.03	0.22	0.29	0.27	0.27	0.39
CARG	0.33	0.00	0.00	0.00	0.00	-0.04	-0.09	0.02	-0.08	0.01	0.02	0.24	0.03	0.52	1.00	0.05	0.14	0.27	-0.04	0.12	0.49	-0.09	0.26	0.06	0.27	-0.12	0.21	0.24	0.38	-0.01	0.36	0.14	0.18	0.25	0.35	0.13	0.12	0.33	0.19	0.28	0.46	0.31	0.28	0.44	0.21	0.27	0.40	0.28
CINF	0.17	0.00	0.00	0.00	0.00	0.08	-0.46	0.13	-0.04	-0.13	0.47	-0.03	0.03	0.01	0.05	1.00	0.30	0.02	-0.05	0.05	0.09	-0.11	0.07	0.13	0.50	-0.03	0.52	0.57	0.31	-0.02	0.13	-0.06	0.50	0.09	0.43	0.08	-0.01	0.05	0.39	0.38	0.09	0.42	0.54	0.36	0.26	0.52	0.46	0.07
ZYME	0.49	0.00	0.00	0.00	0.00	-0.00	0.03	0.22	0.25	0.05	0.14	0.14	0.33	0.15	0.14	0.30	1.00	0.01	-0.08	0.07	0.02	0.08	0.02	0.45	0.25	0.21	0.18	0.26	0.04	0.25	0.33	0.28	0.21	0.40	0.36	0.28	0.29	0.20	0.14	0.33	0.11	0.41	0.49	0.21	0.26	0.32	0.28	0.30
DOX	0.21	0.00	0.00	0.00	0.00	-0.03	-0.09	-0.07	0.47	0.27	0.03	0.53	-0.04	0.46	0.27	0.02	0.01	1.00	0.17	-0.01	0.23	0.19	0.07	0.11	-0.04	0.29	0.09	0.06	-0.02	0.33	0.25	-0.14	0.20	-0.06	0.21	0.37	0.39	0.46	0.27	0.30	0.41	0.30	0.17	0.37	0.42	0.27	0.40	0.49
SWKS	0.30	0.00	0.00	0.00	0.00	-0.07	0.17	-0.04	0.17	0.16	0.18	0.14	0.18	-0.04	-0.04	-0.05	-0.08	0.17	1.00	0.35	0.25	0.39	0.38	0.31	0.21	0.35	0.28	0.26	0.17	0.44	0.07	0.40	0.17	0.22	0.14	0.21	0.30	0.05	0.27	0.26	0.33	0.29	0.22	0.30	0.35	0.30	0.22	0.50
TNK	0.34	0.00	0.00	0.00	0.00	-0.16	0.22	0.07	0.27	0.01	0.18	0.01	0.44	-0.10	0.12	0.05	0.07	-0.01	0.35	1.00	-0.20	0.32	0.82	0.37	0.18	0.41	0.18	0.23	0.37	0.40	0.13	0.47	0.18	0.36	0.12	0.13	0.32	0.05	0.15	0.04	0.14	0.29	0.26	0.24	0.17	0.25	0.19	0.42
PRDO	0.35	0.00	0.00	0.00	0.00	0.05	0.00	-0.02	-0.08	0.12	-0.00	0.19	-0.17	0.18	0.49	0.09	0.02	0.23	0.25	-0.20	1.00	0.00	-0.03	-0.04	0.28	0.03	0.23	0.20	0.19	0.04	0.32	0.35	0.18	0.15	0.55	0.23	0.18	0.44	0.40	0.50	0.40	0.46	0.37	0.58	0.32	0.43	0.47	0.31
LEN	0.29	0.00	0.00	0.00	0.00	-0.20	0.09	0.13	0.27	0.25	0.27	0.14	0.27	0.02	-0.09	-0.11	0.08	0.19	0.39	0.32	0.00	1.00	0.35	0.06	0.18	0.86	0.27	0.12	0.27	0.78	0.05	0.26	-0.00	0.30	-0.10	0.61	0.74	0.33	0.09	-0.01	0.40	0.01	0.02	0.13	0.41	0.02	0.09	0.69
ASC	0.43	0.00	0.00	0.00	0.00	0.02	0.19	0.00	0.30	0.11	0.11	0.05	0.47	0.02	0.26	0.07	0.02	0.07	0.38	0.82	-0.03	0.35	1.00	0.32	0.10	0.38	0.09	0.20	0.44	0.48	0.20	0.39	0.23	0.34	0.14	0.17	0.27	0.03	0.33	0.19	0.26	0.31	0.25	0.34	0.30	0.32	0.26	0.51
ARCT	0.47	0.00	0.00	0.00	0.00	-0.16	-0.02	0.47	0.28	0.17	0.10	0.18	0.38	-0.03	0.06	0.13	0.45	0.11	0.31	0.37	-0.04	0.06	0.32	1.00	0.16	0.13	0.16	0.23	0.06	0.22	0.34	0.30	0.35	0.38	0.36	0.16	0.28	0.15	0.22	0.36	0.33	0.43	0.56	0.22	0.23	0.38	0.31	0.36
NMIH	0.32	0.00	0.00	0.00	0.00	-0.07	-0.22	0.03	-0.20	0.03	0.51	0.02	0.09	0.12	0.27	0.50	0.25	-0.04	0.21	0.18	0.28	0.18	0.10	0.16	1.00	0.22	0.86	0.86	0.32	0.24	0.10	0.22	0.27	0.22	0.32	0.23	0.23	0.20	0.33	0.22	0.30	0.43	0.42	0.38	0.21	0.38	0.36	0.33
DHI	0.36	0.00	0.00	0.00	0.00	-0.06	-0.00	0.08	0.34	0.21	0.27	0.23	0.23	0.13	-0.12	-0.03	0.21	0.29	0.35	0.41	0.03	0.86	0.38	0.13	0.22	1.00	0.25	0.18	0.24	0.89	0.20	0.30	0.02	0.41	0.00	0.73	0.79	0.39	0.15	0.01	0.29	0.18	0.13	0.19	0.44	0.16	0.20	0.74
ESNT	0.24	0.00	0.00	0.00	0.00	-0.21	-0.27	0.04	-0.07	0.10	0.52	0.09	0.03	0.15	0.21	0.52	0.18	0.09	0.28	0.18	0.23	0.27	0.09	0.16	0.86	0.25	1.00	0.84	0.32	0.21	0.16	0.16	0.39	0.22	0.26	0.28	0.27	0.26	0.33	0.25	0.34	0.43	0.38	0.39	0.28	0.39	0.40	0.40
MTG	0.33	0.00	0.00	0.00	0.00	-0.05	-0.28	0.02	-0.03	-0.09	0.50	0.07	-0.02	0.19	0.24	0.57	0.26	0.06	0.26	0.23	0.20	0.12	0.20	0.23	0.86	0.18	0.84	1.00	0.35	0.25	0.17	0.14	0.45	0.28	0.36	0.24	0.17	0.20	0.49	0.34	0.28	0.51	0.52	0.38	0.24	0.51	0.41	0.33
JHG	0.28	0.00	0.00	0.00	0.00	-0.11	-0.22	0.18	-0.11	-0.14	0.25	0.17	0.15	0.30	0.38	0.31	0.04	-0.02	0.17	0.37	0.19	0.27	0.44	0.06	0.32	0.24	0.32	0.35	1.00	0.27	0.21	0.28	0.30	0.46	0.30	0.40	0.32	0.38	0.42	0.38	0.45	0.36	0.29	0.47	0.38	0.46	0.49	0.47
PHM	0.42	0.00	0.00	0.00	0.00	0.10	0.01	-0.01	0.44	0.26	0.33	0.17	0.36	0.29	-0.01	-0.02	0.25	0.33	0.44	0.40	0.04	0.78	0.48	0.22	0.24	0.89	0.21	0.25	0.27	1.00	0.25	0.27	0.07	0.48	-0.03	0.71	0.73	0.34	0.16	0.08	0.32	0.18	0.13	0.17	0.47	0.25	0.21	0.77
IMMR	0.73	0.00	0.00	0.00	0.00	0.04	-0.01	0.27	0.36	0.34	0.11	0.26	0.27	0.43	0.36	0.13	0.33	0.25	0.07	0.13	0.32	0.05	0.20	0.34	0.10	0.20	0.16	0.17	0.21	0.25	1.00	0.42	0.47	0.49	0.34	0.37	0.33	0.49	0.28	0.31	0.45	0.47	0.51	0.38	0.46	0.45	0.43	0.54
PLAB	0.68	0.00	0.00	0.00	0.00	-0.22	0.37	0.29	0.09	0.23	-0.02	0.05	0.31	0.02	0.14	-0.06	0.28	-0.14	0.40	0.47	0.35	0.26	0.39	0.30	0.22	0.30	0.16	0.14	0.28	0.27	0.42	1.00	0.34	0.51	0.42	0.28	0.34	0.44	0.36	0.39	0.30	0.42	0.49	0.43	0.47	0.43	0.41	0.49
NTB	0.54	0.00	0.00	0.00	0.00	-0.04	-0.06	0.39	0.08	0.12	0.04	0.18	0.18	0.18	0.18	0.50	0.21	0.20	0.17	0.18	0.18	-0.00	0.23	0.35	0.27	0.02	0.39	0.45	0.30	0.07	0.47	0.34	1.00	0.40	0.57	0.32	0.16	0.45	0.72	0.66	0.37	0.54	0.64	0.56	0.56	0.70	0.68	0.37
MLI	0.53	0.00	0.00	0.00	0.00	0.06	-0.07	0.20	0.14	0.05	0.15	0.09	0.29	0.35	0.25	0.09	0.40	-0.06	0.22	0.36	0.15	0.30	0.34	0.38	0.22	0.41	0.22	0.28	0.46	0.48	0.49	0.51	0.40	1.00	0.26	0.63	0.57	0.44	0.33	0.37	0.39	0.30	0.49	0.36	0.46	0.54	0.43	0.58
TBBK	0.52	0.00	0.00	0.00	0.00	-0.10	-0.00	0.27	-0.12	0.14	0.01	0.24	0.15	0.16	0.35	0.43	0.36	0.21	0.14	0.12	0.55	-0.10	0.14	0.36	0.32	0.00	0.26	0.36	0.30	-0.03	0.34	0.42	0.57	0.26	1.00	0.24	0.20	0.53	0.60	0.67	0.32	0.75	0.68	0.71	0.42	0.66	0.68	0.33
GRBK	0.39	0.00	0.00	0.00	0.00	0.02	-0.04	0.11	0.20	0.23	0.31	0.17	0.11	0.39	0.13	0.08	0.28	0.37	0.21	0.13	0.23	0.61	0.17	0.16	0.23	0.73	0.28	0.24	0.40	0.71	0.37	0.28	0.32	0.63	0.24	1.00	0.79	0.63	0.37	0.34	0.60	0.31	0.29	0.42	0.62	0.47	0.49	0.75
MTH	0.52	0.00	0.00	0.00	0.00	-0.11	0.00	0.19	0.33	0.32	0.31	0.27	0.26	0.21	0.12	-0.01	0.29	0.39	0.30	0.32	0.18	0.74	0.27	0.28	0.23	0.79	0.27	0.17	0.32	0.73	0.33	0.34	0.16	0.57	0.20	0.79	1.00	0.57	0.24	0.23	0.51	0.30	0.33	0.32	0.64	0.28	0.36	0.81
ETD	0.47	0.00	0.00	0.00	0.00	-0.20	-0.04	0.31	0.10	0.26	0.08	0.41	0.09	0.54	0.33	0.05	0.20	0.46	0.05	0.05	0.44	0.33	0.03	0.15	0.20	0.39	0.26	0.20	0.38	0.34	0.49	0.44	0.45	0.44	0.53	0.63	0.57	1.00	0.46	0.50	0.53	0.40	0.38	0.51	0.66	0.49	0.56	0.64
BPOP	0.52	0.00	0.00	0.00	0.00	-0.05	-0.01	0.22	0.03	0.09	0.05	0.14	0.09	0.10	0.19	0.39	0.14	0.27	0.27	0.15	0.40	0.09	0.33	0.22	0.33	0.15	0.33	0.49	0.42	0.16	0.28	0.36	0.72	0.33	0.60	0.37	0.24	0.46	1.00	0.82	0.51	0.66	0.71	0.76	0.62	0.76	0.76	0.48
CATY	0.44	0.00	0.00	0.00	0.00	-0.15	-0.13	0.17	0.04	-0.02	0.13	0.28	0.12	0.14	0.28	0.38	0.33	0.30	0.26	0.04	0.50	-0.01	0.19	0.36	0.22	0.01	0.25	0.34	0.38	0.08	0.31	0.39	0.66	0.37	0.67	0.34	0.23	0.50	0.82	1.00	0.49	0.64	0.72	0.81	0.63	0.86	0.85	0.44
TROW	0.50	0.00	0.00	0.00	0.00	-0.07	0.01	0.19	0.16	0.23	0.24	0.21	0.13	0.36	0.46	0.09	0.11	0.41	0.33	0.14	0.40	0.40	0.26	0.33	0.30	0.29	0.34	0.28	0.45	0.32	0.45	0.30	0.37	0.39	0.32	0.60	0.51	0.53	0.51	0.49	1.00	0.47	0.46	0.64	0.56	0.48	0.56	0.68
HTBK	0.60	0.00	0.00	0.00	0.00	-0.06	-0.03	0.19	0.18	0.12	0.10	0.13	0.20	0.15	0.31	0.42	0.41	0.30	0.29	0.29	0.46	0.01	0.31	0.43	0.43	0.18	0.43	0.51	0.36	0.18	0.47	0.42	0.54	0.30	0.75	0.31	0.30	0.40	0.66	0.64	0.47	1.00	0.67	0.67	0.37	0.64	0.65	0.45
SBCF	0.71	0.00	0.00	0.00	0.00	-0.18	-0.11	0.38	0.11	0.08	0.16	0.23	0.22	0.03	0.28	0.54	0.49	0.17	0.22	0.26	0.37	0.02	0.25	0.56	0.42	0.13	0.38	0.52	0.29	0.13	0.51	0.49	0.64	0.49	0.68	0.29	0.33	0.38	0.71	0.72	0.46	0.67	1.00	0.68	0.56	0.77	0.76	0.48
FHB	0.51	0.00	0.00	0.00	0.00	-0.09	-0.07	0.01	0.01	0.14	0.19	0.33	0.21	0.22	0.44	0.36	0.21	0.37	0.30	0.24	0.58	0.13	0.34	0.22	0.38	0.19	0.39	0.38	0.47	0.17	0.38	0.43	0.56	0.36	0.71	0.42	0.32	0.51	0.76	0.81	0.64	0.67	0.68	1.00	0.62	0.83	0.89	0.60
MFC	0.61	0.00	0.00	0.00	0.00	-0.14	0.03	0.22	0.19	0.29	0.24	0.37	0.24	0.29	0.21	0.26	0.26	0.42	0.35	0.17	0.32	0.41	0.30	0.23	0.21	0.44	0.28	0.24	0.38	0.47	0.46	0.47	0.56	0.46	0.42	0.62	0.64	0.66	0.62	0.63	0.56	0.37	0.56	0.62	1.00	0.60	0.62	0.77
RNST	0.48	0.00	0.00	0.00	0.00	0.03	-0.18	0.11	0.05	0.00	0.35	0.24	0.17	0.27	0.27	0.52	0.32	0.27	0.30	0.25	0.43	0.02	0.32	0.38	0.38	0.16	0.39	0.51	0.46	0.25	0.45	0.43	0.70	0.54	0.66	0.47	0.28	0.49	0.76	0.86	0.48	0.64	0.77	0.83	0.60	1.00	0.91	0.54
SSB	0.52	0.00	0.00	0.00	0.00	-0.12	-0.18	0.18	-0.00	0.12	0.20	0.35	0.17	0.27	0.40	0.46	0.28	0.40	0.22	0.19	0.47	0.09	0.26	0.31	0.36	0.20	0.40	0.41	0.49	0.21	0.43	0.41	0.68	0.43	0.68	0.49	0.36	0.56	0.76	0.85	0.56	0.65	0.76	0.89	0.62	0.91	1.00	0.58
Portfolio	0.69	0.00	0.00	0.00	0.00	-0.10	0.07	0.14	0.38	0.42	0.29	0.40	0.42	0.39	0.28	0.07	0.30	0.49	0.50	0.42	0.31	0.69	0.51	0.36	0.33	0.74	0.40	0.33	0.47	0.77	0.54	0.49	0.37	0.58	0.33	0.75	0.81	0.64	0.48	0.44	0.68	0.45	0.48	0.60	0.77	0.54	0.58	1.00

The correlation results are calculated based on daily price changes starting from Feb 9, 2026