Boot Barn Correlations
| BOOT Stock | USD 164.84 1.56 0.94% |
The current 90-days correlation between Boot Barn Holdings and Childrens Place is 0.46 (i.e., Very weak diversification). The correlation of Boot Barn 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.
Boot Barn Correlation With Market
Poor diversification
The correlation between Boot Barn Holdings 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 Boot Barn Holdings and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Boot Stock
| 0.69 | HD | Home Depot | PairCorr |
| 0.79 | WEYS | Weyco Group | PairCorr |
| 0.92 | BKE | Buckle Inc | PairCorr |
| 0.61 | ROST | Ross Stores | PairCorr |
| 0.93 | URBN | Urban Outfitters | PairCorr |
| 0.95 | RL | Ralph Lauren Corp | PairCorr |
| 0.78 | VUZI | Vuzix Corp Cmn | PairCorr |
| 0.78 | PVH | PVH Corp | PairCorr |
| 0.92 | WWW | Wolverine World Wide | PairCorr |
Moving against Boot Stock
| 0.87 | JZ | Jianzhi Education | PairCorr |
| 0.75 | VLCN | Volcon Inc | PairCorr |
| 0.39 | KIRK | Kirklands | PairCorr |
| 0.55 | LXEH | Lixiang Education Holding | PairCorr |
| 0.5 | EEIQ | Elite Education Group | PairCorr |
| 0.38 | WKHS | Workhorse Group | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Boot Stock performing well and Boot Barn 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 Boot Barn'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ROST | 1.48 | 0.08 | 0.03 | 0.09 | 2.19 | 2.94 | 17.80 | |||
| PLCE | 5.01 | 0.00 | 0.00 | 0.00 | 6.00 | 14.94 | 33.41 | |||
| BKE | 1.76 | 0.25 | 0.09 | 0.25 | 2.45 | 3.34 | 13.34 | |||
| HIBB | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GES | 4.29 | 0.56 | 0.11 | 0.27 | 4.58 | 9.76 | 41.89 | |||
| BURL | 2.48 | 0.12 | 0.03 | 0.08 | 3.39 | 6.24 | 21.94 | |||
| SCVL | 2.74 | (0.04) | 0.00 | (0.04) | 0.00 | 5.20 | 21.54 | |||
| CATO | 4.11 | 0.07 | 0.02 | (0.16) | 4.83 | 7.42 | 25.74 | |||
| GCO | 3.67 | (0.38) | 0.00 | (0.18) | 0.00 | 6.94 | 26.16 |