Dicks Sporting Correlations

Stocks . USA . 
Stock . Dicks Sporting Goods
DKS Stock  USD 189.51  5.17  2.80%   
The current 90-days correlation between Dicks Sporting Goods and AutoZone is 0.32 (i.e., Weak diversification). The correlation of Dicks Sporting 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.

Dicks Sporting Correlation With Market

Good diversification

The correlation between Dicks Sporting Goods and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dicks Sporting Goods and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Dicks Stock
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dicks Sporting Goods. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Dicks Stock

  0.87DIBS 1StdibsComPairCorr
  0.95HD Home DepotPairCorr
  0.95WEYS Weyco GroupPairCorr
  0.92ASO Academy Sports OutdoorsPairCorr
  0.9BBY Best BuyPairCorr
  0.93FND Floor Decor Holdings Earnings Call This WeekPairCorr
  0.97GCT GigaCloud TechnologyPairCorr
  0.79HVT Haverty Furniture Earnings Call This WeekPairCorr
  0.98LOW Lowes CompaniesPairCorr
  0.94GLBE Global E OnlinePairCorr
  0.87HOUR Hour LoopPairCorr
  0.91KIRK KirklandsPairCorr
  0.69MOGU MOGU IncPairCorr
  0.94ARHS Arhaus IncPairCorr
  0.9TTSH Tile Shop HoldingsPairCorr
  0.74BH Biglari HoldingsPairCorr
  0.77SG SweetgreenPairCorr
  0.85DOOO BRP IncPairCorr
  0.92VUZI Vuzix Corp CmnPairCorr
  0.84WING Wingstop Earnings Call This WeekPairCorr
  0.84WLDS Wearable DevicesPairCorr
  0.92FLXS Flexsteel Industries Earnings Call This WeekPairCorr
  0.9FOSL Fossil GroupPairCorr
  0.95CMG Chipotle Mexican Grill Buyout TrendPairCorr
  0.92DTC Solo BrandsPairCorr
  0.67EAT Brinker International Earnings Call This WeekPairCorr
  0.86ETD Ethan Allen InteriorsPairCorr
  0.73FWRG First Watch RestaurantPairCorr

Moving against Dicks Stock

  0.65RAY Raytech HoldingPairCorr
  0.58MCD McDonalds Earnings Call This WeekPairCorr
  0.48ADT ADT IncPairCorr
  0.46HBB Hamilton Beach BrandsPairCorr

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   
WSM
+ 0.97
RH
WSM
+ 0.94
BBY
BBY
+ 0.91
RH
WOOF
+ 0.78
ULTA
ORLY
+ 0.74
AZO
ULTA
+ 0.68
RH
  
High negative correlations   
AZO
- 0.78
RH
WSM
- 0.77
AZO
WSM
- 0.64
ORLY
BBY
- 0.64
AZO
ORLY
- 0.55
RH
ORLY
- 0.48
BBY

Risk-Adjusted Indicators

There is a big difference between Dicks Stock performing well and Dicks Sporting 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 Dicks Sporting'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.

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