Carriage Services Correlations

CSV Stock

USD 40.48 0.26 0.65%

The current 90-days correlation between Carriage Services and Biglari Holdings is -0.03 (i.e., Good diversification). The correlation of Carriage Services 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.

Carriage Services Correlation With Market

Modest diversification

The correlation between Carriage Services and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carriage Services 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 Carriage Services. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For more information on how to buy Carriage Stock please use our How to Invest in Carriage Services guide.

Moving together with Carriage Stock

0.82	BH	Biglari Holdings	Pair Corr
0.92	WH	Wyndham Hotels Resorts	Pair Corr
0.66	DKNG	DraftKings	Pair Corr
0.84	EVRI	Everi Holdings Sell-off Trend	Pair Corr
0.91	EXPE	Expedia Group	Pair Corr
0.91	BYD	Boyd Gaming	Pair Corr
0.89	CCL	Carnival Aggressive Push	Pair Corr
0.86	CHH	Choice Hotels Intern	Pair Corr
0.61	CMG	Chipotle Mexican Grill	Pair Corr
0.88	CUK	Carnival Plc ADS	Pair Corr
0.8	DPZ	Dominos Pizza	Pair Corr
0.62	DRI	Darden Restaurants	Pair Corr
0.93	EAT	Brinker International	Pair Corr
0.83	FAT	FAT Brands	Pair Corr
0.94	FUN	Six Flags Entertainment	Pair Corr
0.91	FTDR	Frontdoor	Pair Corr
0.84	HGV	Hilton Grand Vacations	Pair Corr
0.84	HLT	Hilton Worldwide Holdings	Pair Corr
0.89	IHG	InterContinental Hotels	Pair Corr
0.88	FWRG	First Watch Restaurant	Pair Corr

Moving against Carriage Stock

0.87	CZR	Caesars Entertainment	Pair Corr
0.82	BDL	Flanigans Enterprises Earnings Call This Week	Pair Corr
0.79	WING	Wingstop	Pair Corr
0.77	EJH	E Home Household	Pair Corr
0.72	CDROW	Codere Online Luxembourg	Pair Corr
0.49	WYNN	Wynn Resorts Limited	Pair Corr
0.36	DNUT	Krispy Kreme	Pair Corr
0.77	MGM	MGM Resorts International	Pair Corr
0.7	QSR	Restaurant Brands	Pair Corr
0.69	HRB	HR Block	Pair Corr
0.65	RGS	Regis Common	Pair Corr
0.6	IGT	International Game	Pair Corr
0.59	FLL	Full House Resorts	Pair Corr
0.57	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.53	GHG	GreenTree Hospitality	Pair Corr
0.48	LTH	Life Time Group	Pair Corr
0.46	BTBDW	BT Brands Warrant	Pair Corr
0.35	MSC	Studio City International	Pair Corr

Related Correlations Analysis

	H	BH	EM	SG	WH	DKNG	DNUT	CDROW	WING
H		0.6	-0.03	0.25	0.57	0.7	-0.46	-0.45	-0.13	H
BH	0.6		0.21	0.09	0.87	0.64	-0.72	-0.7	-0.66	BH
EM	-0.03	0.21		0.02	0.2	-0.12	-0.42	-0.02	-0.35	EM
SG	0.25	0.09	0.02		0.33	0.38	0.27	-0.29	-0.21	SG
WH	0.57	0.87	0.2	0.33		0.6	-0.44	-0.67	-0.82	WH
DKNG	0.7	0.64	-0.12	0.38	0.6		-0.36	-0.54	-0.2	DKNG
DNUT	-0.46	-0.72	-0.42	0.27	-0.44	-0.36		0.42	0.27	DNUT
CDROW	-0.45	-0.7	-0.02	-0.29	-0.67	-0.54	0.42		0.5	CDROW
WING	-0.13	-0.66	-0.35	-0.21	-0.82	-0.2	0.27	0.5		WING
	H	BH	EM	SG	WH	DKNG	DNUT	CDROW	WING

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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

WH	+ 0.87	BH
DKNG	+ 0.7	H
DKNG	+ 0.64	BH
BH	+ 0.6	H
DKNG	+ 0.6	WH
WH	+ 0.57	H

High negative correlations

WING	- 0.82	WH
DNUT	- 0.72	BH
CDROW	- 0.7	BH
CDROW	- 0.67	WH
WING	- 0.66	BH
CDROW	- 0.54	DKNG

Risk-Adjusted Indicators

There is a big difference between Carriage Stock performing well and Carriage Services 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 Carriage Services' 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
H	1.48	0.03	0.02	0.04	2.22	(1.36)	2.80	(3.89)	11.01
BH	1.83	0.53	0.25	0.90	1.57	(2.25)	4.03	(2.23)	17.89
EM	3.00	0.68	0.18	(0.68)	2.57	(4.20)	7.84	(4.17)	36.31
SG	3.24	(0.01)	0.00	0.02	3.76	(3.61)	6.33	(6.27)	22.40
WH	1.23	0.33	0.22	0.27	1.12	(1.49)	2.76	(2.10)	15.27
DKNG	1.84	0.03	0.02	0.04	2.29	(1.86)	4.94	(3.83)	12.51
DNUT	1.57	(0.38)	0.00	(0.95)	0.00	0.00	2.52	(3.41)	9.13
CDROW	5.15	(0.14)	0.00	0.23	0.00	0.00	11.39	(11.50)	36.07
WING	1.99	(0.54)	0.00	(0.37)	0.00	0.00	3.21	(4.56)	23.67

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