Carnival Correlations

CCL Stock

USD 22.18 0.00 0.00%

The current 90-days correlation between Carnival and Royal Caribbean Cruises is 0.94 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Carnival moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Carnival moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Carnival Correlation With Market

Very poor diversification

The correlation between Carnival and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carnival and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Carnival Stock

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

For more information on how to buy Carnival Stock please use our How to buy in Carnival Stock guide.

Moving together with Carnival Stock

0.95	H	Hyatt Hotels	Pair Corr
0.93	WH	Wyndham Hotels Resorts	Pair Corr
0.91	CHH	Choice Hotels Intern	Pair Corr
0.93	HLT	Hilton Worldwide Holdings Sell-off Trend	Pair Corr
0.95	IHG	InterContinental Hotels	Pair Corr
0.95	MAR	Marriott International	Pair Corr
0.93	HD	Home Depot Earnings Call Today	Pair Corr
0.76	HWH	HWH International	Pair Corr
0.96	AXP	American Express	Pair Corr
0.91	HPQ	HP Inc	Pair Corr
0.83	CSCO	Cisco Systems Earnings Call This Week	Pair Corr
0.89	DIS	Walt Disney	Pair Corr
0.95	BAC	Bank of America Aggressive Push	Pair Corr
0.9	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.85	CAT	Caterpillar	Pair Corr
0.8	DD	Dupont De Nemours	Pair Corr

Moving against Carnival Stock

0.5	MCD	McDonalds	Pair Corr
0.7	VZ	Verizon Communications	Pair Corr
0.65	T	ATT Inc	Pair Corr

Related Correlations Analysis

	RCL	ABNB	EXPE	BKNG	NCLH	TRIP
RCL		0.83	0.83	0.72	0.89	0.9	RCL
ABNB	0.83		0.93	0.62	0.83	0.77	ABNB
EXPE	0.83	0.93		0.59	0.88	0.82	EXPE
BKNG	0.72	0.62	0.59		0.42	0.46	BKNG
NCLH	0.89	0.83	0.88	0.42		0.92	NCLH
TRIP	0.9	0.77	0.82	0.46	0.92		TRIP
	RCL	ABNB	EXPE	BKNG	NCLH	TRIP

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Risk-Adjusted Indicators

There is a big difference between Carnival Stock performing well and Carnival 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 Carnival'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
RCL	2.46	0.10	0.00	(0.07)	0.00	0.00	4.60	(7.31)	24.39
ABNB	2.32	0.21	0.04	0.02	3.29	(2.22)	3.32	(5.95)	21.64
EXPE	2.52	0.18	0.00	(0.02)	0.00	0.00	4.27	(7.28)	26.49
BKNG	1.70	0.29	0.12	0.11	1.99	(1.84)	3.62	(3.74)	13.83
NCLH	2.82	(0.38)	0.00	(0.32)	0.00	0.00	4.04	(6.58)	27.58
TRIP	2.74	0.11	0.00	(0.07)	0.00	0.00	4.41	(8.42)	27.46

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