ELF Beauty Correlations

ELF Stock

USD 119.22 1.56 1.33%

The current 90-days correlation between ELF Beauty and Coty Inc is 0.5 (i.e., Very weak diversification). The correlation of ELF Beauty 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.

ELF Beauty Correlation With Market

Very weak diversification

The correlation between ELF Beauty and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ELF Beauty and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ELF Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ELF Beauty. 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 economic analysis.

For more detail on how to invest in ELF Stock please use our How to Invest in ELF Beauty guide.

Moving together with ELF Stock

0.78	EL	Estee Lauder Companies	Pair Corr
0.86	EWCZ	European Wax Center	Pair Corr
0.62	MED	MEDIFAST INC	Pair Corr
0.85	NUS	Nu Skin Enterprises	Pair Corr
0.87	YSG	Yatsen Holding Downward Rally	Pair Corr
0.89	IPAR	Inter Parfums	Pair Corr
0.76	SKIN	Beauty Health	Pair Corr
0.8	SLSN	Solesence, Common Stock	Pair Corr
0.89	DG	Dollar General	Pair Corr

Moving against ELF Stock

0.9	CLX	Clorox Earnings Call This Week	Pair Corr
0.87	EPC	Edgewell Personal Care	Pair Corr
0.83	SPB	Spectrum Brands Holdings	Pair Corr
0.74	KVUE	Kenvue Inc Aggressive Push	Pair Corr
0.7	XAGE	Longevity Health Hol Symbol Change	Pair Corr
0.57	FTLF	FitLife Brands, Common	Pair Corr
0.53	BSLKW	Bolt Projects Holdings, Symbol Change	Pair Corr
0.47	MTEX	Mannatech Incorporated	Pair Corr
0.36	CL	Colgate Palmolive	Pair Corr
0.35	DSY	Big Tree Cloud	Pair Corr
0.34	UL	Unilever PLC ADR Earnings Call This Week	Pair Corr
0.32	SHOT	Safety Shot	Pair Corr
0.89	WGRX	Wellgistics Health,	Pair Corr
0.88	JZ	Jianzhi Education	Pair Corr
0.82	GO	Grocery Outlet Holding	Pair Corr
0.73	BSLK	Bolt Projects Holdings, Symbol Change	Pair Corr
0.71	K	Kellanova Earnings Call Tomorrow	Pair Corr
0.64	DOLE	Dole PLC	Pair Corr
0.63	BJ	BJs Wholesale Club	Pair Corr
0.63	DNUT	Krispy Kreme Trending	Pair Corr
0.46	YI	111 Inc	Pair Corr
0.41	KO	Coca Cola Sell-off Trend	Pair Corr

Related Correlations Analysis

	COTY	EL	FIZZ	HIMS	PG
COTY		-0.01	0.36	0.07	0.01	COTY
EL	-0.01		0.45	0.27	-0.53	EL
FIZZ	0.36	0.45		0.28	0.05	FIZZ
HIMS	0.07	0.27	0.28		-0.03	HIMS
PG	0.01	-0.53	0.05	-0.03		PG
	COTY	EL	FIZZ	HIMS	PG

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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

FIZZ	+ 0.45	EL
FIZZ	+ 0.36	COTY
HIMS	+ 0.28	FIZZ
HIMS	+ 0.27	EL
HIMS	+ 0.07	COTY
PG	+ 0.05	FIZZ

High negative correlations

PG	- 0.53	EL
PG	- 0.03	HIMS
EL	- 0.01	COTY

Risk-Adjusted Indicators

There is a big difference between ELF Stock performing well and ELF Beauty 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 ELF Beauty'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
COTY	2.01	(0.32)	(0.05)	0.05	2.80	(2.24)	5.47	(3.05)	14.59
EL	1.92	0.28	0.24	0.37	1.50	(2.20)	5.33	(3.30)	14.71
FIZZ	1.25	(0.06)	(0.08)	0.15	1.29	(1.37)	2.99	(2.27)	6.95
HIMS	5.17	1.23	0.18	1.24	6.16	(6.25)	15.92	(5.52)	57.66
PG	0.80	(0.17)	0.00	(0.12)	0.00	0.00	1.29	(1.78)	5.02

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