Designer Brands Correlations

Stocks . USA . 
Stock . Designer Brands
DBI Stock  USD 4.89  0.23  4.94%   
The current 90-days correlation between Designer Brands and Wolverine World Wide is 0.33 (i.e., Weak diversification). The correlation of Designer Brands 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.

Designer Brands Correlation With Market

Modest diversification

The correlation between Designer Brands and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Designer Brands and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Designer Brands. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.
For more detail on how to invest in Designer Stock please use our How to Invest in Designer Brands guide.

Moving together with Designer Stock

  0.79AN AutoNationPairCorr
  0.75FL Foot Locker Earnings Call This WeekPairCorr
  0.84AEO American Eagle Outfitters Sell-off TrendPairCorr
  0.65ASO Academy Sports Outdoors Earnings Call This WeekPairCorr
  0.64FND Floor Decor HoldingsPairCorr
  0.84HVT Haverty FurniturePairCorr
  0.72ARHS Arhaus IncPairCorr
  0.64VC Visteon CorpPairCorr
  0.73WING WingstopPairCorr
  0.8FOXF Fox Factory HoldingPairCorr
  0.79DAN Dana IncPairCorr

Moving against Designer Stock

  0.67DORM Dorman ProductsPairCorr
  0.58LAD Lithia MotorsPairCorr
  0.51RMBL RumbleONPairCorr
  0.42WEYS Weyco GroupPairCorr
  0.42TTSH Tile Shop HoldingsPairCorr
  0.39BH Biglari HoldingsPairCorr
  0.32HD Home DepotPairCorr
  0.32PLCE Childrens PlacePairCorr
  0.32DNUT Krispy KremePairCorr
  0.78EVRI Everi HoldingsPairCorr
  0.75EAT Brinker InternationalPairCorr
  0.69FLXS Flexsteel IndustriesPairCorr
  0.62AGS PlayAGSPairCorr
  0.52DAO Youdao IncPairCorr
  0.43CMG Chipotle Mexican GrillPairCorr
  0.32DRI Darden RestaurantsPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
WEYS
+ 0.7
WWW
VRA
+ 0.61
CAL
CAL
+ 0.54
RCKY
RCKY
+ 0.48
SHOO
VRA
+ 0.25
RCKY
VRA
+ 0.08
WEYS
  
High negative correlations   
RCKY
- 0.69
WEYS
RCKY
- 0.68
WWW
CAL
- 0.62
WWW
CAL
- 0.38
WEYS
CAL
- 0.24
SHOO
SHOO
- 0.23
WEYS

Risk-Adjusted Indicators

There is a big difference between Designer Stock performing well and Designer Brands 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 Designer Brands' 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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY