Continental Correlations

CAL Stock

USD 14.94 0.64 4.11%

The current 90-days correlation between Continental and Wolverine World Wide is 0.67 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Continental moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Caleres moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Continental Correlation With Market

Very weak diversification

The correlation between Caleres and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Caleres and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Caleres. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Continental Stock

0.7	RH	RH	Pair Corr
0.75	VSCO	Victorias Secret	Pair Corr
0.67	ASO	Academy Sports Outdoors	Pair Corr
0.75	BGI	Birks Group	Pair Corr
0.71	GAP	Gap, Symbol Change	Pair Corr
0.79	JFBR	Jeffs Brands	Pair Corr
0.8	MNRO	Monro Muffler Brake	Pair Corr
0.74	MOGU	MOGU Inc	Pair Corr
0.64	PETS	PetMed Express	Pair Corr
0.69	PRTS	CarPartsCom	Pair Corr
0.81	SG	Sweetgreen	Pair Corr
0.64	AXL	American Axle Manufa	Pair Corr
0.75	BLD	Topbuild Corp	Pair Corr
0.67	CMG	Chipotle Mexican Grill Earnings Call This Week	Pair Corr
0.69	FOXF	Fox Factory Holding	Pair Corr

Moving against Continental Stock

0.5	EYE	National Vision Holdings	Pair Corr
0.34	GPC	Genuine Parts Earnings Call Tomorrow	Pair Corr
0.31	LOGC	Contextlogic Symbol Change	Pair Corr
0.62	AGS	PlayAGS	Pair Corr
0.72	MCD	McDonalds	Pair Corr
0.64	RGR	Sturm Ruger	Pair Corr
0.58	DPZ	Dominos Pizza Common	Pair Corr
0.52	QSR	Restaurant Brands	Pair Corr
0.44	GHC	Graham Holdings	Pair Corr
0.35	DRI	Darden Restaurants	Pair Corr

Related Correlations Analysis

	VRA	WWW	RCKY	SHOO	WEYS	DBI
VRA		0.91	0.94	0.95	0.9	0.92	VRA
WWW	0.91		0.88	0.91	0.79	0.92	WWW
RCKY	0.94	0.88		0.96	0.9	0.92	RCKY
SHOO	0.95	0.91	0.96		0.94	0.96	SHOO
WEYS	0.9	0.79	0.9	0.94		0.87	WEYS
DBI	0.92	0.92	0.92	0.96	0.87		DBI
	VRA	WWW	RCKY	SHOO	WEYS	DBI

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Risk-Adjusted Indicators

There is a big difference between Continental Stock performing well and Continental 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 Continental'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
VRA	3.65	(0.70)	(0.58)	6.33	(8.10)	22.25
WWW	3.00	(0.78)	(0.47)	4.28	(9.65)	32.09
RCKY	2.59	(0.69)	(0.58)	3.59	(8.70)	18.35
SHOO	2.45	(0.84)	(0.69)	3.14	(7.63)	25.96
WEYS	1.89	(0.12)	(0.17)	3.20	(3.44)	18.07
DBI	4.04	(0.75)	(0.47)	6.40	(8.47)	36.03

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