Statistics of Price Movements of First Business Finan (FBIZ)

The price movements of First Business Finan (ticker FBIZ) are summarized in five ways:

• Table 1. Statistics of daily price changes using the closing prices
• Table 2. Statistics of daily price changes using the closing and opening prices
• Table 3 – 7. Statistics of daily price changes when FBIZ opened with an increase of 1%, 2%, 3%, 4%, or more than 5%
• Table 8 – 10. Statistics of stock price changes in the 20 days after FBIZ had a big price move
• Table 11. Statistics of daily price changes in the 20 days after FBIZ moved 5% with twice the 30-day average volume

The statistics are calculated using FBIZ's price data across 1,547 trading days from 2015 to 2020.

Table 1. Statistics of FBIZ one-day price changes

In this table, the one-day price change is calculated using the closing price and the previous day's closing price.

In the past 1,547 trading days, 47.2% of the time (730 days), FBIZ closed above the previous day's closing price. 47.1% of the time (728 days), it closed below the previous day's closing price. 5.7% of the time (88 days), it did not change.

Also see: VIX price movement study.

FBIZ Price Change (%)	Number of Days	% of Total Sessions
17 – 18%	1	0.06%
16 – 17%	1	0.06%
15 – 16%	1	0.06%
14 – 15%	1	0.06%
12 – 13%	1	0.06%
11 – 12%	2	0.13%
10 – 11%	1	0.06%
9 – 10%	1	0.06%
8 – 9%	3	0.19%
7 – 8%	2	0.13%
6 – 7%	7	0.45%
5 – 6%	11	0.71%
4 – 5%	14	0.91%
3 – 4%	31	2.01%
2 – 3%	70	4.53%
1 – 2%	164	10.61%
0 – 1%	419	27.10%
0%	88	5.69%
0 – -1%	404	26.13%
-1 – -2%	196	12.68%
-2 – -3%	59	3.82%
-3 – -4%	21	1.36%
-4 – -5%	11	0.71%
-5 – -6%	11	0.71%
-6 – -7%	8	0.52%
-7 – -8%	5	0.32%
-8 – -9%	2	0.13%
-9 – -10%	4	0.26%
-10 – -11%	2	0.13%
-12 – -13%	2	0.13%
-13 – -14%	2	0.13%
-49 – -50%	1	0.06%

Table 2. Statistics of FBIZ: Closing vs. Open

In this table, instead of using the closing price of the previous day, the opening price is used to calculate the one-day price change of FBIZ.

47.3% of the time (731 days), FBIZ closed above the opening price. 47.4% of the time (733 days), it closed below the opening price. 5.4% of the time (83 days), it closed where it started.

Closing - Open (%)	Number of Days	% of Total Sessions
25 – 26%	1	0.06%
15 – 16%	1	0.06%
12 – 13%	3	0.19%
11 – 12%	1	0.06%
10 – 11%	2	0.13%
8 – 9%	2	0.13%
7 – 8%	1	0.06%
6 – 7%	5	0.32%
5 – 6%	6	0.39%
4 – 5%	21	1.36%
3 – 4%	26	1.68%
2 – 3%	72	4.65%
1 – 2%	202	13.06%
0 – 1%	388	25.08%
0%	83	5.37%
0 – -1%	405	26.18%
-1 – -2%	183	11.83%
-2 – -3%	78	5.04%
-3 – -4%	30	1.94%
-4 – -5%	12	0.78%
-5 – -6%	10	0.65%
-6 – -7%	4	0.26%
-7 – -8%	2	0.13%
-8 – -9%	3	0.19%
-9 – -10%	2	0.13%
-10 – -11%	1	0.06%
-11 – -12%	3	0.19%

Table 3. One-day performance when FBIZ opened 5% higher than previous close

In the past 1,547 trading days, FBIZ opened more than 5% higher than the previous day's closing price 3 times. Of these days, 0.0% (0 days) had closing prices above the opening price, and 100.0% (3 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
0 – -1%	1	33.33%
-1 – -2%	1	33.33%
-6 – -7%	1	33.33%

Table 4. Closing vs. open when FBIZ opened 4–5% higher

On 7 days, FBIZ opened 4–5% higher than the previous day's closing price. Of these days, 57.1% (4 days) had closing prices above the opening price, and 42.9% (3 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
12 – 13%	1	14.29%
3 – 4%	1	14.29%
1 – 2%	1	14.29%
0 – 1%	1	14.29%
0 – -1%	1	14.29%
-2 – -3%	1	14.29%
-4 – -5%	1	14.29%

Table 5. Closing vs. open when FBIZ open 3 – 4% higher

15 times FBIZ opened 3 – 4% higher than the previous day's closing price. Among these days, 26.7% (4 days) closed above the opening price, 73.3% (11 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
12 – 13%	1	6.67%
8 – 9%	1	6.67%
2 – 3%	2	13.33%
0 – -1%	1	6.67%
-1 – -2%	1	6.67%
-2 – -3%	5	33.33%
-3 – -4%	3	20.00%
-5 – -6%	1	6.67%

Table 6. Closing vs. open when FBIZ open 2 – 3% higher

37 times FBIZ opened 2 – 3% higher than the previous day's closing price. Among these days, 40.5% (15 days) closed above the opening price, 56.8% (21 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
8 – 9%	1	2.70%
6 – 7%	2	5.41%
4 – 5%	2	5.41%
3 – 4%	1	2.70%
2 – 3%	1	2.70%
1 – 2%	4	10.81%
0 – 1%	4	10.81%
0%	1	2.70%
0 – -1%	4	10.81%
-1 – -2%	7	18.92%
-2 – -3%	5	13.51%
-3 – -4%	3	8.11%
-4 – -5%	1	2.70%
-8 – -9%	1	2.70%

Table 7. Closing vs. open when FBIZ open 1 – 2% higher

112 times FBIZ opened 1 – 2% higher than the previous day's closing price. Among these days, 28.6% (32 days) closed above the opening price, 69.6% (78 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
12 – 13%	1	0.89%
6 – 7%	1	0.89%
4 – 5%	1	0.89%
3 – 4%	3	2.68%
2 – 3%	3	2.68%
1 – 2%	12	10.71%
0 – 1%	11	9.82%
0%	2	1.79%
0 – -1%	23	20.54%
-1 – -2%	34	30.36%
-2 – -3%	10	8.93%
-3 – -4%	4	3.57%
-4 – -5%	1	0.89%
-5 – -6%	2	1.79%
-7 – -8%	2	1.79%
-10 – -11%	1	0.89%
-11 – -12%	1	0.89%

Table 8. Periods when FBIZ moved 15% or more

In this table, we track the price movements in the 20 days after FBIZ had a one-day price change of at least 15%.

Date	Price Change	Price Change after 15% Move
Days after:		1	4	7	10	13	16	19
20200518	17.1%	-10.0	-5.9	4.1	-4.2	4.1	5.1	.8
20200427	16.1%	-2.5	-4.6	-13.7	-11.3	-18.8	-14.3	-10.5
20200326	15%	-10.1	-19.8	-15.3	-6.1	-12.0	-9.0	-16.9
20150831	-49.1%	-1.6	-.5	2.8	2.7	2.0	2.8	4.0

Table 8a. FBIZ average price changes following a 15% up day

Of the 1,547 trading days from 2015 to 2020, there were 3 days in which FBIZ was up more than 15%. This table shows the average price changes over the 3 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 15%	-7.5	-10.1	-8.3	-7.2	-8.9	-6.1	-8.9

Table 8b. FBIZ average price changes following a 15% down day

Of the 1,547 trading days from 2015 to 2020, there were 1 days in which FBIZ was down more than -15%. This table shows the average price changes over the 1 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -15%	-1.6	-.5	2.8	2.7	2.0	2.8	4.0

Table 9. Periods when FBIZ moved 10% or more

In this table, we track the price movements in the 20 days after FBIZ had a one-day price change of at least 10%.

Date	Price Change	Price Change after 10% Move
Days after:		1	4	7	10	13	16	19
20200518	17.1%	-10.0	-5.9	4.1	-4.2	4.1	5.1	.8
20200427	16.1%	-2.5	-4.6	-13.7	-11.3	-18.8	-14.3	-10.5
20200326	15%	-10.1	-19.8	-15.3	-6.1	-12.0	-9.0	-16.9
20200409	14.3%	.0	-9.6	-7.6	-9.1	1.0	-1.2	-10.5
20200417	12.1%	-4.6	-6.2	4.3	2.0	-7.6	-5.1	-13.2
20200603	11.6%	-.5	.4	-3.7	-3.7	-3.1	-6.8	-2.8
20200810	11.1%	.0	6.8	-4.9	-9.4	-10.5	-11.2	-13.1
20200406	10.8%	.3	10.9	.3	2.4	.7	12.0	9.5
20200327	-10.1%	4.5	-12.2	-5.5	4.5	-5.5	-3.4	-5.0
20200318	-10.6%	8.4	.9	13.1	1.0	6.6	18.2	10.7
20200316	-12%	.1	-5.9	-2.2	5.6	-11.2	-4.4	5.7
20200309	-12.4%	3.3	-10.5	-29.7	-33.3	-11.5	-21.4	-32.4
20161028	-13.3%	-3.6	-2.2	-3.4	4.9	10.0	12.7	13.5
20200312	-13.4%	5.8	-16.8	-21.1	4.7	-7.0	-20.0	-14.0
20150831	-49.1%	-1.6	-.5	2.8	2.7	2.0	2.8	4.0

Table 9a. FBIZ average price changes following a 10% up day

Of the 1,547 trading days from 2015 to 2020, there were 8 days in which FBIZ was up more than 10%. This table shows the average price changes over the 8 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 10%	-3.4	-3.5	-4.6	-4.9	-5.8	-3.8	-7.1

Table 9b. FBIZ average price changes following a 10% down day

Of the 1,547 trading days from 2015 to 2020, there were 7 days in which FBIZ was down more than -10%. This table shows the average price changes over the 7 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -10%	2.4	-6.7	-6.6	-1.4	-2.4	-2.2	-2.5

Table 10. Periods when FBIZ moved 5% or more

In this table, we track the price movements in the 20 days after FBIZ had a one-day price change of at least 5%.

Date	Price Change	Price Change after 5% Move
Days after:		1	4	7	10	13	16	19
20200518	17.1%	-10.0	-5.9	4.1	-4.2	4.1	5.1	.8
20200427	16.1%	-2.5	-4.6	-13.7	-11.3	-18.8	-14.3	-10.5
20200326	15%	-10.1	-19.8	-15.3	-6.1	-12.0	-9.0	-16.9
20200409	14.3%	.0	-9.6	-7.6	-9.1	1.0	-1.2	-10.5
20200417	12.1%	-4.6	-6.2	4.3	2.0	-7.6	-5.1	-13.2
20200603	11.6%	-.5	.4	-3.7	-3.7	-3.1	-6.8	-2.8
20200810	11.1%	.0	6.8	-4.9	-9.4	-10.5	-11.2	-13.1
20200406	10.8%	.3	10.9	.3	2.4	.7	12.0	9.5
20201109	9.4%	6.9	-3.0	1.6	1.9	8.7	.7	4.1
20200304	8.5%	-8.4	-16.1	-27.3	-42.9	-45.8	-28.1	-36.2
20200319	8.4%	-2.9	.9	9.0	-8.4	-1.4	9.0	-1.4
20200325	8.4%	15.0	2.1	-12.1	-5.5	1.4	-6.7	.0
20200429	7.4%	-3.5	-15.6	-14.0	-16.6	-9.2	-14.6	-11.3
20161110	7.2%	-.6	4.2	6.7	7.5	7.3	8.2	10.4
20201110	6.9%	-5.5	-4.0	-4.3	.2	.1	-4.8	-2.6
20200812	6.7%	-.8	-5.8	-15.6	-16.0	-17.9	-18.7	-19.3
20200527	6.6%	-6.5	-10.0	6.5	-.5	-4.1	-2.8	-2.6
20200605	6.4%	2.3	-13.8	-9.2	-12.7	-15.4	-10.4	-10.1
20200324	6.3%	8.4	17.1	-1.6	5.9	17.1	5.9	8.2
20190426	6.2%	3.7	2.1	7.0	3.4	4.6	4.2	-.4
20201007	6.2%	2.4	3.2	6.0	6.4	6.0	6.3	19.6
20180126	5.9%	.3	.7	-2.1	.1	.4	2.7	1.3
20200715	5.9%	-1.4	-4.1	-6.5	-8.1	-4.8	-.4	12.4
20200313	5.8%	-12.0	-14.7	-20.6	-11.1	-20.6	-16.2	-7.0
20201116	5.8%
20200520	5.7%	-1.2	2.6	7.5	10.0	19.2	.4	5.8
20150424	5.6%	1.7	-.7	-1.4	-3.7	-4.8	-4.2	-4.0
20200612	5.5%	-.9	.4	.6	-5.0	-.7	-.7	-11.8
20200924	5.5%	-1.4	-1.4	3.4	12.6	13.4	16.5	17.0
20200805	5.1%	.1	13.0	20.6	7.4	2.4	1.1	.3
20200529	5%	-6.4	1.8	2.7	-1.5	-1.5	-.9	-4.7
20201124	5%
20160324	-5.3%	.0	7.5	8.8	9.0	10.2	14.6	16.7
20181204	-5.3%	.0	-.1	1.4	-2.0	-2.6	-4.8	-3.5
20200311	-5.4%	-13.4	-19.3	-24.1	-21.1	-14.9	-28.4	-23.0
20200331	-5.4%	-9.6	-4.6	5.8	-.9	2.5	-6.4	9.6
20200819	-5.4%	-3.4	-5.7	-4.8	-6.9	-9.0	-10.5	-11.8
20201111	-5.4%	-4.3	2.7	1.6	7.6	-1.9	.2	3.4
20151203	-5.5%	2.8	-.5	-2.6	-1.1	-1.7	-1.6	-1.0
20160115	-5.6%	.0	1.0	-.3	3.4	-2.9	-2.7	-7.6
20160627	-5.7%	.1	.3	-.9	.4	4.4	4.7	6.6
20200501	-5.7%	-1.7	-7.2	-8.5	-14.8	-5.0	-6.1	-2.8
20200505	-5.7%	-2.3	.3	-8.2	-3.1	1.3	12.1	3.1
20200413	-6%	-.3	3.1	-5.8	10.3	11.6	-2.5	-.6
20200709	-6%	4.9	9.5	4.9	2.4	1.2	3.4	8.9
20170428	-6.1%	-2.0	-5.9	-7.5	-9.8	-13.3	-12.2	-12.6
20200303	-6.2%	8.5	-11.8	-25.5	-30.6	-34.7	-32.1	-26.7
20200707	-6.3%	1.0	-.7	2.4	-.4	-2.8	-4.6	-1.1
20200921	-6.3%	-1.5	1.3	1.2	6.2	15.7	16.5	19.6
20200528	-6.4%	5.1	7.5	16.5	-1.9	3.4	-.6	-3.7
20200601	-6.4%	-2.1	15.8	8.2	4.3	5.7	5.9	.0
20200514	-7.1%	.1	11.6	10.3	14.2	9.9	30.0	21.5
20200609	-7.3%	-1.4	-5.0	-3.7	-3.5	-8.9	-4.8	-4.8
20201130	-7.4%
20200624	-7.5%	4.1	8.5	6.3	.9	-.7	2.4	-.5
20200611	-7.8%	5.5	5.6	6.1	2.1	6.5	4.3	-1.0
20200305	-8.3%	1.2	-13.5	-30.2	-32.4	-37.1	-29.5	-37.0
20190823	-8.6%	3.4	2.8	.1	1.1	6.3	9.0	8.3
20150724	-9%	-1.0	1.2	-.2	-.9	-.6	2.4	1.8
20200401	-9.6%	-1.6	5.9	17.1	5.9	8.1	6.4	18.3
20200323	-9.9%	6.4	19.2	6.5	12.4	24.6	16.7	20.7
20200519	-9.9%	5.7	4.5	8.2	4.1	23.1	15.1	10.9
20200327	-10.1%	4.5	-12.2	-5.5	4.5	-5.5	-3.4	-5.0
20200318	-10.6%	8.4	.9	13.1	1.0	6.6	18.2	10.7
20200316	-12%	.1	-5.9	-2.2	5.6	-11.2	-4.4	5.7
20200309	-12.4%	3.3	-10.5	-29.7	-33.3	-11.5	-21.4	-32.4
20161028	-13.3%	-3.6	-2.2	-3.4	4.9	10.0	12.7	13.5
20200312	-13.4%	5.8	-16.8	-21.1	4.7	-7.0	-20.0	-14.0
20150831	-49.1%	-1.6	-.5	2.8	2.7	2.0	2.8	4.0

Table 10a. FBIZ average price changes following a 5% up day

Of the 1,547 trading days from 2015 to 2020, there were 32 days in which FBIZ was up more than 5%. This table shows the average price changes over the 32 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 5%	-1.1	-2.4	-2.5	-3.8	-3.1	-2.6	-2.8

Table 10b. FBIZ average price changes following a 5% down day

Of the 1,547 trading days from 2015 to 2020, there were 37 days in which FBIZ was down more than -5%. This table shows the average price changes over the 37 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -5%	.6	-.2	-1.6	-1.5	-.5	-.5	-.2

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Also see: VIX price movement study.