Carriage Services Correlations

CSV Stock

USD 46.61 0.20 0.43%

The current 90-days correlation between Carriage Services and Matthews International is 0.49 (i.e., Very weak 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

Very weak diversification

The correlation between Carriage Services and DJI is 0.47 (i.e., Very weak 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.

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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

0.94	H	Hyatt Hotels Earnings Call This Week	Pair Corr
0.92	BH	Biglari Holdings	Pair Corr
0.75	EM	Smart Share Global	Pair Corr
0.82	DKNG	DraftKings	Pair Corr
0.83	WING	Wingstop	Pair Corr
0.82	WYNN	Wynn Resorts Limited	Pair Corr
0.88	FLUT	Flutter Entertainment plc	Pair Corr
0.84	BDL	Flanigans Enterprises	Pair Corr
0.94	BYD	Boyd Gaming Earnings Call This Week	Pair Corr
0.65	CHH	Choice Hotels Intern	Pair Corr
0.79	CMG	Chipotle Mexican Grill Earnings Call This Week	Pair Corr
0.96	CUK	Carnival Plc ADS	Pair Corr
0.82	DIN	Dine Brands Global	Pair Corr
0.78	DRI	Darden Restaurants	Pair Corr
0.71	EAT	Brinker International	Pair Corr
0.93	HLT	Hilton Worldwide Holdings Earnings Call This Week	Pair Corr
0.69	IHG	InterContinental Hotels	Pair Corr
0.89	MAR	Marriott International	Pair Corr
0.96	RRR	Red Rock Resorts Earnings Call This Week	Pair Corr
0.87	KRUS	Kura Sushi USA	Pair Corr

Moving against Carriage Stock

0.81	SG	Sweetgreen	Pair Corr
0.72	DNUT	Krispy Kreme	Pair Corr
0.94	ZSPC	zSpace, Common stock	Pair Corr
0.76	EJH	E Home Household	Pair Corr
0.76	WEN	The Wendys	Pair Corr
0.7	BTBDW	BT Brands Warrant	Pair Corr
0.66	MCD	McDonalds	Pair Corr
0.66	JACK	Jack In	Pair Corr
0.55	DPZ	Dominos Pizza Common Earnings Call This Week	Pair Corr
0.51	LTH	Life Time Group Sell-off Trend	Pair Corr
0.49	FWRG	First Watch Restaurant	Pair Corr
0.49	GENK	GEN Restaurant Group,	Pair Corr
0.37	HTHT	Huazhu Group	Pair Corr

Related Correlations Analysis

	SCI	BFAM	ROL	EM	MATW	HI	HVT	CBZ
SCI		-0.37	-0.11	0.53	0.78	0.41	0.45	-0.08	SCI
BFAM	-0.37		0.76	-0.3	-0.27	-0.53	0.05	-0.28	BFAM
ROL	-0.11	0.76		-0.13	-0.06	-0.55	0.15	-0.23	ROL
EM	0.53	-0.3	-0.13		0.73	0.25	0.7	0.11	EM
MATW	0.78	-0.27	-0.06	0.73		0.44	0.77	0.04	MATW
HI	0.41	-0.53	-0.55	0.25	0.44		0.33	0.03	HI
HVT	0.45	0.05	0.15	0.7	0.77	0.33		-0.05	HVT
CBZ	-0.08	-0.28	-0.23	0.11	0.04	0.03	-0.05		CBZ
	SCI	BFAM	ROL	EM	MATW	HI	HVT	CBZ

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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

MATW	+ 0.78	SCI
HVT	+ 0.77	MATW
ROL	+ 0.76	BFAM
MATW	+ 0.73	EM
HVT	+ 0.7	EM
EM	+ 0.53	SCI

High negative correlations

HI	- 0.55	ROL
HI	- 0.53	BFAM
BFAM	- 0.37	SCI
EM	- 0.3	BFAM
CBZ	- 0.28	BFAM
MATW	- 0.27	BFAM

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
SCI	0.90	(0.05)	(0.09)	0.04	1.13	(0.96)	2.18	(1.78)	7.85
BFAM	1.07	(0.03)	0.00	(14.10)	0.00	0.00	2.45	(1.91)	7.61
ROL	0.82	(0.05)	(0.12)	0.01	1.01	(0.83)	1.44	(1.77)	4.96
EM	1.06	0.09	(0.01)	0.57	1.12	(1.58)	1.92	(1.85)	7.42
MATW	2.06	0.11	0.06	0.21	2.30	(2.13)	4.15	(4.39)	13.60
HI	2.69	(0.17)	(0.01)	0.05	3.32	(2.80)	6.04	(5.25)	16.63
HVT	1.84	0.07	0.07	0.18	1.78	(2.28)	4.61	(3.72)	14.94
CBZ	1.45	(0.19)	0.00	(0.09)	0.00	0.00	2.76	(2.83)	15.98

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