Carnival Plc Correlations

CUK Stock

USD 17.83 0.81 4.76%

The current 90-days correlation between Carnival Plc ADS and Callaway Golf is 0.61 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Carnival Plc moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Carnival Plc ADS moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Carnival Plc Correlation With Market

Good diversification

The correlation between Carnival Plc ADS and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carnival Plc ADS 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 Plc ADS. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Carnival Stock

0.91	AS	Amer Sports,	Pair Corr
0.67	DOGZ	Dogness International	Pair Corr
0.94	FNKO	Funko Inc	Pair Corr
0.94	FUN	Six Flags Entertainment	Pair Corr
0.8	HWH	HWH International	Pair Corr
0.75	MAT	Mattel Inc	Pair Corr
0.94	OSW	OneSpaWorld Holdings	Pair Corr
0.93	XPOF	Xponential Fitness	Pair Corr
0.87	YETI	YETI Holdings Earnings Call This Week	Pair Corr
0.93	HKPD	Hong Kong Pharma	Pair Corr
0.92	JAKK	JAKKS Pacific	Pair Corr
0.94	JOUT	Johnson Outdoors	Pair Corr
0.85	LUCK	Lucky Strike Enterta Earnings Call This Week	Pair Corr
0.8	MODG	Callaway Golf Earnings Call This Week	Pair Corr
0.91	MSGE	Madison Square Garden	Pair Corr
0.84	NWTG	Newton Golf Symbol Change	Pair Corr
0.95	PLBY	Plby Group Earnings Call This Week	Pair Corr
0.67	PLNT	Planet Fitness Earnings Call This Week	Pair Corr
0.92	PRKS	United Parks Resorts Earnings Call This Week	Pair Corr
0.87	PTON	Peloton Interactive	Pair Corr
0.92	CLAR	Clarus Corp	Pair Corr
0.96	H	Hyatt Hotels Earnings Call This Week	Pair Corr
0.88	M	Macys Inc Earnings Call This Week	Pair Corr
0.96	W	Wayfair	Pair Corr
0.93	DIBS	1StdibsCom Earnings Call This Week	Pair Corr
0.89	AN	AutoNation	Pair Corr
0.75	BH	Biglari Holdings Earnings Call This Week	Pair Corr
0.95	BQ	Boqii Holding Limited	Pair Corr
0.78	EM	Smart Share Global	Pair Corr
0.9	FL	Foot Locker	Pair Corr

Moving against Carnival Stock

0.67	YYAI	Connexa Sports Techn	Pair Corr
0.39	GT	Goodyear Tire Rubber Earnings Call Tomorrow	Pair Corr
0.38	F	Ford Motor Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	MODG	PTON	VSTO	CLAR	JOUT	ESCA	JAKK	SEAS	BOWL	YETI
MODG		0.74	0.0	0.59	0.72	0.14	0.66	0.0	-0.03	0.55	MODG
PTON	0.74		0.0	0.82	0.86	0.14	0.85	0.0	0.12	0.77	PTON
VSTO	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	VSTO
CLAR	0.59	0.82	0.0		0.95	0.13	0.96	0.0	0.41	0.95	CLAR
JOUT	0.72	0.86	0.0	0.95		0.16	0.95	0.0	0.29	0.92	JOUT
ESCA	0.14	0.14	0.0	0.13	0.16		0.16	0.0	0.2	0.2	ESCA
JAKK	0.66	0.85	0.0	0.96	0.95	0.16		0.0	0.37	0.94	JAKK
SEAS	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SEAS
BOWL	-0.03	0.12	0.0	0.41	0.29	0.2	0.37	0.0		0.42	BOWL
YETI	0.55	0.77	0.0	0.95	0.92	0.2	0.94	0.0	0.42		YETI
	MODG	PTON	VSTO	CLAR	JOUT	ESCA	JAKK	SEAS	BOWL	YETI

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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

JAKK	+ 0.96	CLAR
JOUT	+ 0.95	CLAR
YETI	+ 0.95	CLAR
JAKK	+ 0.95	JOUT
YETI	+ 0.94	JAKK
YETI	+ 0.92	JOUT

High negative correlations

BOWL	- 0.03	MODG
YETI	- 0.0	SEAS
BOWL	- 0.0	SEAS
SEAS	- 0.0	JAKK
SEAS	- 0.0	ESCA
SEAS	- 0.0	JOUT

Risk-Adjusted Indicators

There is a big difference between Carnival Stock performing well and Carnival Plc 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 Plc'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
MODG	2.90	(0.14)	0.00	3.59	0.00	0.00	4.55	(5.25)	18.84
PTON	4.06	(0.04)	0.03	(0.06)	4.93	(4.69)	10.57	(7.56)	30.57
VSTO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CLAR	1.88	(0.49)	0.00	1.51	0.00	0.00	4.02	(3.53)	14.81
JOUT	1.94	(0.27)	0.00	0.96	0.00	0.00	4.44	(3.57)	12.87
ESCA	2.43	0.10	0.08	(0.66)	2.96	(2.64)	4.73	(5.43)	11.80
JAKK	2.72	(0.64)	0.00	4.39	0.00	0.00	5.29	(7.31)	20.82
SEAS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BOWL	3.59	1.91	0.00	(4.61)	0.00	0.00	9.78	(2.23)	11.61
YETI	2.11	(0.31)	0.00	2.38	0.00	0.00	3.42	(4.76)	19.83

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